How You Can Be a Top Player in IP in 3 “Easy Steps”

3 steps to a winning IP strategy

3 steps to a winning IP strategy

As a forward-thinking business strategist, you will be interested in the reprinted article published in the Summer 2007 Sloan Management Review entitled “Patenting for Profits” (available in this link: sloanreview.mit.edu/wsj/insight/pdfs/48409.pdf). This article, which was written by two partners at Bain & Company, presents a very succinct explanation of the elements needed for a company to become a top player in the IP game.

As an IP Strategist and owner of an IP Strategy and Consulting services (more info here: http://www.jackiehutter/, I believe this article clearly lays out the necessary features for your company to create and deploy a patent strategy that will maximize your corporate assets. To summarize this article, as a top player in creating value from patents, you will create and deploy an infrastructure having each of these elements: 1) a strong market focus; 2) a holistic view; and 3) a strong organization.

When your organization has a strong market focus, you expend effort only on those markets that are the most important to you. Also, your market focused organization ensures “freedom of action” so that your innovation can be used as desired. To have this freedom of action, you must understand the patent playing field in your markets of interest, as well as what patent rights you need to compete in these spaces. In short, your collection and exploitation of patent information is paramount to ensure that you can exploit your innovation to the fullest extent you desire.

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