Thursday, December 13, 2012

Making Products Work For The Market Through A Working Patent Licensing Strategy

By Selma Casey


Patent licensing strategy is considered part of the important growth aspects of the IP market. The companies need to prosper and the best way to do that is to focus on research and development. The company would greatly depend on these so that it would carry out a good future. Steps are involved in securing the property. Steps that are involved are competitive intelligence, analysis, research and the preparation. Following the steps can ensure that good results will be observed.

The competitors always want to get the most licenses and patents because they want to best their competitors out. Because of these efforts they are able to increase the growth chances of the company. The steps are crucial for them to carry out their plans and efficiently succeed.

First thing is the diagnosis of the problem or the topic. As with anything, there should be a clear definition of what the topic is. It is important to diagnose the topic through the use of data mining as well as extraction tools. There are databases and literature search that can be used for this.

It is good to interpret and analyze the data first. The gaps should be properly addressed in order to ensure the proper evaluation of the topic. There could also be improvement that the industry has established in its landscape. Such could be applied in the new research. This is very crucial since this could also serve as reference in solving and interpreting future topics.

The policy or work-plan can be prepared after this. The main basis to figure out the work-flow policy are the results of the past research. There could be discussions with experts regarding the matter to shed light on the plan especially on its feasibility.

Optimization of the work-plan will come as soon as the main objectives are already laid out. The main objectives must be added so that the work-flow policy will be concise. It would be important to allow the easy optimization so that the plan would be carried out even in future goals.

The initiation or objective laying should have all the needed tools so everything will come in a simpler tune. The steps should be made simpler in order to keep things doable. The main goal is to make sure that there will be results later on. Achieving results will only be done if the steps are made so that everyone can do it efficiently even after the task is done.

Projection of the budget is also an important step in the project. It is necessary that everyone involved will work with cost efficiency in mind. There should be enough funds for the project to be carried out fully. The products and inventions of others could serve as models for the budget.

It is also important not only with patent licensing strategy but with everything else, to continue with the monitoring. There will be progress or failures eventually and it is important to monitor everything. As much as possible, everyone must consider the things that needs to be improved and see to it that they will attend to those. The results of the research could be merged to come up with a report.




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