Please be aware that our tools, processes, and advice are not for everybody.  First, you will need to bring persistence, a willingness to learn, your creativity, and the ability to build a team complementing our services.  The old adage about 1% inspiration and 99% perspiration is so true.  Second, fund raising is an important part of the innovation process.  IP services are not inexpensive but if you have done your homework up front and determined a sizable market for your innovation, then the cost for IP services pale in comparison to obtaining the exclusivity needed to succeed.  If this is still you, then we typically see three types of small business entrepreneurial clients who have decided to compete using innovative products and services:

1) The licensor.  You are a creative type who doesn’t care to engage in the manufacturing and distribution aspects of the business.  Instead, you typically need to protect your idea in its infancy and lock up at least the options to exclusive rights while attracting licensees while controlling a limited budget.  To flesh out your idea, you may need some prototyping help.  You understand the risk is lower but so are the rewards and that it is a numbers game requiring the generation of lots of ideas.  It’s possibly you may also decide to change your mind and become one of the client types below.

2) The start-up.  Some innovation is likely to be the cornerstone of your business plan and may comprise most of the value of your business.  You need confidentiality and trade secret controls in order to protect your idea at least initially.  This is often followed up with the pursuit of patent rights.  Unless, you are completely bootstrapping, you need to attract capital and they want to see possession of exclusive rights and a potential return.  You need help controlling the burn rate of your capital while evaluating the marketplace and taking risks.  Since the product or service is real and will reach the marketplace, you definitely need to avoid stepping on the toes of others or the game is over.

3) The going small or medium-sized concern.  You have an existing product or product lines but would like to grow by introducing new products.  You may have been burned by encroaching another company’s intellectual property rights and would like to know how to avoid these issues in the future.  You also understand that adding an IP budget eats into your bottom line but, without such expenditure, you are likely looking at a short future instead of obtaining sustainable competitive advantages.  Thus, you are looking for the best “bang for your IP buck”.  You also need to keep an eye on the competition and guard and increase your market share.  You may need to enter into contracts with larger entities and position yourself accordingly.  It’s likely you need to refine your innovation process to capture more protectable innovations that add value to company.

These client types all have different concerns and require different strategies.  It’s really about building a team and we provide the IP management aspects of your team.  If you’re the right fit, we want to be part of that team.