Maximising Intellectual property & Speed To Market Opportunties
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Transcript of Maximising Intellectual property & Speed To Market Opportunties
MAXIMISING INTELLECTUAL PROPERTY
AND SPEED TO MARKET OPPORTUNITIES
Sales/Path to Market
Dan Hansen, DirectorMSM Sales Specialists
T: 0800 123 529E:
SPEAKERS
Intellectual Property
David Macaskill, AssociateJames & Wells
T: 64 7 928 4470E: [email protected]
AGENDA
1. Introduction to MSM2. Introduction to James & Wells3. Background to this workshop4. IP and the path to market process5. Case study6. Q&A
COMMON MISCONCEPTIONS
1. I can’t launch my product as I don’t have it patented2. Patents are not worth anything, I’ll rely on being first to
market3. Patents are too expensive to enforce so there is no point in
filing them
OBSERVATION
We frequently see businesses in one of the following situations:
1. Going to market without any form of intellectual property protection
2. Having started the protection process way in advance of validating the market and finalising product design
3. Tied capital up way early in the business cycle which constrains growth and options at crucial stages later on
CHALLENGE
The questions we address are:
1. How can businesses implement effective protection of intellectual property and maximise the effectiveness of sales resources?
2. How can we develop a meaningful and cost effective IP protection strategy?
3. Can this be achieved in a near-cash-flow-positive fashion?
MSM Sales Specialists• MSM specialise in delivering increased profitability through
sales in local and export markets• We bridge the gap between the product, service or idea and
the market, through sales• Export and local market capability with commercial experience
in over 30 countries. Core competencies include Australia, North America, United Kingdom and Europe
Our expertise includes the following sectors;• Food and beverage• Health, beauty and nutrition• Manufacturing• Innovation, technology and media (intangibles)
MSM Sales Specialists
International business development
Market entrance (new markets with current products)
Commercialisation of new products and services
Developing best-in-class sales organisations
James & Wells
• Full service intellectual property firm• NZ’s most dynamic team of patent attorneys, lawyers, and
IP specialists• Three time winner of NZ law award for IP Firm of the Year
James & Wells
THE TYPICAL LIFECYCLE
AN IDEA IS FORMED
R&DPRODUCT
PRODUCEDTRADESHOWOR EXHIBIT
DISTRIBUTORS & RESELLERS IDENTIFIED
PROMOTIONAL SUPPORT ETC
REVENUE
MSM BLUEPRINT APPROACH
MARKET RESEARCH
& VALIDATION
CREATE THE
STRATEGY
EXECUTE
REFINE THE SALES PROCESS
MARKET RESEARCH & VALIDATION
The objective is to determine the market with the greatest potential return for the allocation of business resources.
• Separate market research and validation activities from strategy.
• Identify the market then create the plan to access the market.• To start the process we need to make some starting
assumptions• Most research requires macro, micro and consumer research• It is the convergence of criteria that highlight opportunity• Qualitative research is useful at R&D stages where a sufficient
sample size can be obtained
RELEVANT IP ISSUES
• Freedom to Operate in target markets
• Identification of competitive advantage e.g. what drives your customer’s propensity to purchase?
• Identification of intellectual property strategies appropriate to your competitive advantage.
GOOD RESEARCH CAN ANSWER
1. What is important about your product or service?
• Unmet need?
• Competitor Products
2. Where is the market?
• Geographical regions
• Industry or demographic needs
METHODOLOGY1. Articulate the business objective clearly 2. Establish starting assumptions and identify any existing constraints on the business
in terms of markets in which the product cannot sell because of non-compliance issues, language barriers, logistics or other barriers to entry
3. Macro analysisa. Identify indicators which model assumptionsb. Find data sources, compile and sort data by key variablesc. Identify patterns of convergence between key variables
4. Micro analysisa. Identify any new indicators which model regional assumptionsb. Find data sources, compile and sort by key variables at micro regional levelc. Identify patterns of convergence
5. Consumer and behavioural analysisa. Establish assumptions about consumer choices and buying behaviours in
these regionsb. Identify indicators and other relevant information on the competitive
landscapec. Find data sources, compile and score data
6. Assess findings against business objective
SALES STRATEGY
• The sales strategy is all about gaining access to the market and converting the market into sales revenue
• MSM’s approach includes sixteen areas that maximise path to market. IP issues are relevant to five core elements:
1. Core idea2. Routes to market 3. Value chain i.e. Partnering, OEM, distribution4. Messaging5. Competitive positioning
PATH TO MARKET & IP STRATEGIES
• Good research and understanding of your path to market can answer:
1. Who do you have to work with?
2. Why do your “partners” want/have to work with you?
3. When will you launch your product?
IP STRATEGY SELECTION
Selected based on your competitive advantage and everything learnt during market research & validation, sales strategy planning.
Can include:1. Patents to protect functional features2. Design registrations to protect appearance3. Trade mark registrations to protect brand and reputation4. Trade secrets to protect know-how and confidential information5. Employment agreements6. Distribution agreements to protect relationships7. R&D agreements with third parties8. IP holding structures and license agreements
A COMMON PATENT FILING STRATEGY
First filingNow
Second Filing (PCT Applications?)+ 12 months
Country specific filings+ 18 months
First sale and disclosure+ 17 months
A MORE STRATEGIC APPROACH
First filingFirst saleNow
Second Filing (PCT Applications?)
12 months
Country specific filings18 months
REFINEMENT
• Continuous product improvement process
• Sales process
• Competitive movements
• Competition often seeds from within
REMEMBER & APPLY
Key ‘take-aways’ from this workshop that you can apply today in your business:
•Separate MR&V from strategy and look for convergence of criteria
•Integrate research and development with market research and validation
to maximise opportunities for aligning and maximising protection
•Review IP protection in the five critical touch points of the strategy
•Sales execution uses a combination of internal and external agreements
across a variety of touch points
•The sales process and IP protection are evolving beasts and will benefit
from constant re-evaluation and adjustment
Sales/Path to Market
Dan Hansen, DirectorMSM Sales Specialists
T: 0800 123 529E:
CONTACT DETAILS
Intellectual Property
David Macaskill, AssociateJames & Wells
T: 64 7 928 4470E: [email protected]