What does a WINNING IP strategy look like? To develop one, you need to know 3 things:
- The answer is not out there.
YOUR winning IP strategy is actually already INSIDE your company, waiting to be discovered. You only need to ask the right questions.
“Your intellectual property needs are unique. What type of intellectual property matters to your company, and what you should do to protect it is highly company/industry dependent, requiring your own unique analysis.”
-Steve Blank, entrepreneur and author
Other people, like peers or even IP experts, can give you ideas – but not answers.
- A winning IP strategy is actually just part of your business strategy.
It’s the part that optimizes how your ideas, information and data (your IP!) help reach your business goals better.That’s right, IP plays a SUPPORTING role. Just like a good marketing plan helps provide tailwinds to your business, optimizing how you handle your IP will too.
But the winds have to be blowing in the right DIRECTION – your plan has to be customized to your business.
“The journey of every startup is unique.”
-Y Combinator, Facebook post
3. A winning IP strategy focuses on your high-impact IP.
IP is everywhere in your business, but the highest impact stuff plays key roles in differentiating your business and/or helps you reach key business objectives.
Finding your high-impact IP, and understanding the role it plays for your differentiators and objectives is how you develop
And having IP self-awareness is essential before you can find and develop your winning IP strategy.
Next Post: I’ll share a simple action plan to get you started. Until then, have a look around inside your business, think about what is your high-impact IP, and the role it plays for you.
(PSSST! Developing your IP self-awareness is free – it requires only your time & energy! )