Lesson 3: What Does Your IP Strategy Look Like?

SOME FINAL CONSIDERATIONS FOR DEVELOPING YOUR OWN IP STRATEGY

From what you’ve learned throughout this course, what does your IP strategy look like? What are you business goals? Are you just starting out or are you more established? What approaches are you considering to finance your business? How do you see your business growing in 5 years? 10 years?

Reflect on these and the following questions in relation to matching your IP strategy to your business goals:

  • What forms of IP do you own?
    • What do you need to do in order to secure ownership in each case?
    • Is your IP registered? Unregistered?
    • What are the costs and benefits of choosing to register some or all forms of IP that can be registered?
  • What are all the monetary implications (financing, asset value, filing and maintenance costs, revenue considerations and enforcement costs) arising from your IP portfolio?
    • What are the current markets and anticipated markets for your products and services and what do you need to do in terms of IP protection for your current markets?
    • What about in anticipated markets?
  • Are you aware of any third party IP that you are relying on in your business?
  • What actions should you take to ensure that you fully address all third party IP ?
  • What are the relevant considerations for IP protection in your employment and other agreements?
  • Is licensing your IP an option for you? What are the various licensing strategies that you can pursue?
  • What are the enforcement strategies you should anticipate offensively as well as defensively?
  • Do you have a plan to continuously assess, reassess and monitor your IP strategy in light of changing circumstances?
These are some of the questions whose answers should form the basic foundation of your specific IP strategy. There is no single IP strategy that is optimal for every business because each business is unique. All you can do is apply the basic principles we’ve discussed throughout these modules to formulate your own IP strategy, making sure to align it with your business goals and taking into account the expert advice you receive.
Last modified: Monday, 11 September 2017, 3:23 PM