Have you already passed the ideation phase, and do you want to scale your business, either nationally or even internationally? If so, you need an effective strategy and a well-developed plan in order to attract the attention of investors and to make sure that you are chosen by them.
There are a number of rules to follow to secure a place on the list of winners. Here are some of them:
Consider the following. A business plan should be between 15 and 20 pages long. A basic rule is to provide the context and a story so as to include the essential details and provide enough additional convincing information at the same time.
Start With the Beginning
A cover page containing the company name, logo, and contact details is a good starting point. You can continue with the history of the company and the main values that guide it. The next step is to provide information on the market in question. Who are your consumers? How can they reach you? How can you reach them? These are just a few questions you can ask yourself, and you need to find effective answers. In this section of the plan, it would be advisable to include some market research from which to locate information such as market segments, new trends or even the growth and development prospects of the market in question. Don’t forget to explain the whole process of creating and producing the products or services offered. This addition can be a real advantage.
When Intellectual Property Strategy Needs to be Created
Adopting an IP strategy at the right time can save your business and increase your competitive advantage, a conclusion drawn by a study conducted by Deloitte. It helps to obtain a strategic direction and obtain a competitive advantage in the market and the eyes of the investor. Thus, it is mandatory for a start-up to protect all the intellectual property assets it holds in its portfolio, whether it is a trademark, a patent or even copyright. Each asset depends very much on the sphere of activity of the respective company, and the same strategy can’t be applied to all businesses. As each of us has unique fingerprints, the imprint of a start-up is given by the intellectual property strategy.
The next question is: what should an IP strategy contain? Well, the answer depends on each business and the benefit it brings to consumers. You can start by establishing one or more people who will own the company’s intellectual property rights at the very beginning. It is necessary to clearly determine, from the establishment of the company, who will retain its intellectual property rights in case the person or persons concerned wish to leave the company. This delimitation can be achieved through assignment agreements that establish the rights and obligations of each party. Normally, it is preferable for all intellectual property assets to remain with the company, but in the absence of such delimitations, associates may own them in their own names, thus causing damage to the company.
What are the IP Assets You Can Protect
The company will consider the main IP assets that will be operated by the company. Whether it is a brand, an industrial design, software (for tech companies), or even geographical indications, the value of this asset can be equivalent to the price of the entire business if it is not protected from the outset. In the last 10-15 years, the value of such an asset has increased by up to 80%, a conclusion that emerges from a study conducted by KPMG.
Brand: the Well-Known IP Asset and How Important it is for Your Business
The next step you have to take when you want to implement a business idea is to seek the help of an intellectual property specialist. These specialists can help you throughout the process from the registration of the trademark. This is true whether we are talking about its registration at the national level or about registration at the international level. This aspect will be established together with the IP specialist, depending on the territories in which you want to develop your business.
Protect Other IP Assets as Well
Many entrepreneurs believe that only the brand is important. However, when you create new software, for example, such a product contains countless assets that can tell the difference between a company’s success or failure.
Once you have registered this software at the office of the designated territory, you can be sure that it will be protected from possible infringement. Another very important aspect that is often excluded is the registration of the domain name. It can have major implications for the company’s branding and implications for creating and maintaining brand value as the world of domains becomes increasingly complex. Managing and securing this asset is an important step in the future of the company.
You must not forget that .com domains, like any other international domains, have a limited duration for several years, and if you do not repurchase the domain when it expires, you may be put in a situation where it could be taken by someone else. You can check the availability of a domain by accessing this link.
Exceptions to the Rule
There is also the situation in which companies produce applications for mobile phones, for example, and succeed in generating a patent through innovation. This patent can also be protected with the help of an intellectual property specialist by filing it. You should also take this information into account because, in the last ten years, the value of a patent in a company’s portfolio has increased by up to 56%, according to a report by KPMG.
Do not forget! Investor attention and trust are quite difficult to obtain, but if you know that your product is not only effective but also protected, it will be easy to offer a guarantee and trust in your turn. Adopting an intellectual property strategy at the right time will save you a lot of trouble with promoting your business, especially from financial concerns.