Many people file applications to protect their intellectual property without properly considering why they are seeking protection. Before any protection is sought, it is necessary to first consider how value will be extracted from the technology, product or process. Value may be extracted through the ability...

A strategy is the yardstick by which all business decisions are measured. A business strategy is a matrix of principles and policies used to ensure the scarce resources of the business are used to support its goals and objectives. The corporate strategy of a business is its...

Competencies required A business wanting to commercialise an innovation itself, will need access to competitive manufacturing facilities and good distribution channels. Very few businesses will have the necessary manufacturing and distribution capabilities required to commercialise a new product, at least in all possible markets for the...

Competencies required The outright sale strategy generally involves no ongoing involvement by the seller with the innovation or purchaser. Accordingly, there are no special competencies required to execute the strategy (apart from good marketing and negotiating skills during the sale and purchase phase). Resource investment As the innovation...

Competencies required Different competencies may be required depending on the nature of the licence arrangement. Relationship building and maintenance skills are essential, as the licence is an ongoing commitment by both parties to the licence. The licensor may be required to provide varying levels of ongoing support,...

What is a licence? A licence is permission to do something that would, in the absence of permission, infringe intellectual property rights. It is different to an assignment, which is a transfer of ownership of the intellectual property. Using a house as an analogy for the intellectual...

Competencies required In a joint venture, each JV party brings its own set of competencies. One may bring R&D and manufacturing expertise, while the other brings marketing and distribution capabilities. The idea is to find a partner with complimentary skill sets, to create synergies in the...

Licence terms: exclusivity In most cases a licensee will request an exclusive agreement. Exclusivity involves certain risks for the licensor, in particular, the risk that the licensee will be a poor performer and will effectively tie up the technology, resulting in a low return for the...

Do you have a great idea but don't know how to get it to market? You are not alone. No business can do everything and most great ideas involve input from a lot of people along the road from conception to market. You might need to...