Most medium and small scale companies in India do not leverage intellectual property as a strategic tool to accelerate their commercial success. For example, when you have an idea for a business that is unique, that has a value proposition, you have some intellectual capital. How do you derive value from it?
Intellectual capital is not just about filing patents. It is the aggregate intellectual material knowledge, information, intellectual property, experience that can be put to use strategically to create wealth in a company.
However, it is rare that an SME owner would have access to in-house IP expertise. One way out is to hire right consultants. This could be critical for your business if you wish to grow over a longer time horizon with a sustained competitive advantage.
What could be the benefits of hiring the right consultant to guide your growth and maximize the value of your intellectual property? We list a few benefits here:
- Dramatically Enhance Value, Competitiveness and Market Share
- Assessment and Transfer of Technology
- Product Development for Various Specialized Applications in Many Diverse Industries
- Market Research, Competitive Analysis, Business Development and Worldwide Marketing
- Material Selection, Formulations and Product Development for Optimization of Performance, Cost and Processibility
- Accelerating Projects from Conception to Innovation to Patenting to Commercialization and Product Introduction
- Productivity Improvement, Scale-up, Cost Reduction, Quality Improvement, Quality Control and Quality Assurance
- Strategic Direction and Planning and P/L Turnaround
- Patents and Licensing – Legally Getting Around Existing Patents
- Trouble-Shooting and Technical Service
- Helping You to “Go Green” by Utilizing Recycled and Bio-derived Materials and Using Recycle Materials for Value-Added Applications
- Other Business and Technical Areas in Plastics, Polymers, Composites and Packaging
In subsequent posts I shall provide more insights on how to do so.
Author: Ashok M. Adur, Ph.D. in Polymer Science & Engineering
- Innovations Consultant; Product, Business & Strategy Development; Optimization of IP, Cost & Resources.
- Consulting Experience since 1992.
- Published 13 papers in professional journals and presented over 45 papers at regional, national and international professional conferences. Also moderated and organized some conferences.
- Listed in “Who’s Who in Plastics” and “International Who’s Who of Entrepreneurs”.
- Developed several new proprietary inventions, over 66 patents applied, 26 granted so far, resulting in commercializing numerous value-added products to meet specific customer needs and in new annual business of over $1 billion.
4 thoughts on “Intellectual Property and its relevance to SMEs”
Message from, Paul W. Reidl, International Trademark and Alcohol Beverage Lawyer; Litigator, Former President, International Trademark Association, http://www.linkedin.com/in/paulwreidl:
Thanks for posting the interesting article. Leveraging intellectual property, whether patent, trademark, or copyright, or others, should begin almost at the moment of its creation.
By that I mean that the business should have a philosophy and practice of investing in the affirmative steps necessary to establish legal protection as a predicate to the onset of leveraging. The same strategic business vision that was applied to creating the asset should be applied to protecting it. Otherwise, the discussion of leveraging might have been made moot (or far more difficult and expensive).
surely,a lot of innovative work get lost in the business field…but on the one hand, it helps to that company which going for intellectual property rights, but on the other hand kills the possibility new businesses working on the same model/idea..
But, the experience from the developing world says that, getting intellectual property rights helps in the longer run in the form of burgeoning creativity…
@ this post,
Surely, would be of great help to startups…