Developing an IP Strategy for your Company
Are you at the helm of an innovative business? Are you serious about success, reaching goals, and building value? And are you not currently getting the best value for money when it comes to your IP? If we just described you, it’s time to develop your IP strategy.
As experts in IP consulting, we understand you don’t want to reinvent the wheel every time a new IP question arises, and that’s perfectly fair! In working with business founders and leaders who want the best return on their IP spend, we get to the crux of the matter in no time.
Stephen Carter, IP Consultant, IP Strategist and former IP Attorney with over 25 years experience.
Strategise Your IP
Are you at the helm of an innovative business? Are you serious about success, reaching goals, and building value? And are you not currently getting the best value for money when it comes to your IP? If we just described you, it’s time for an overhaul of your IP strategy.
At The Intellectual Property Works, we understand you don’t want to reinvent the wheel every time a new IP question arises, and that’s perfectly fair! In working with business founders and leaders who want the best return on their IP spend, we get to the crux of the matter in no time.
What Is IP Strategy?
Many ambitious companies recognise the importance of IP to their growing business, but often lack the time and experience to implement an effective IP strategy. That’s where The Intellectual Property Works steps in.
Our approach to IP strategy is to address it holistically in the context of your business. Your plan should be relatable to you and your investors and always tailored to your business specifically. We look at IP ownership, risk, and protection to create an effective plan we can implement as soon as possible, assisting you in the day-to-day operations of your business. We believe in putting an IP strategy (or plan) in place at the earliest opportunity and revisiting it regularly as your business grows or pivots.
What IP Strategy Includes
Development
We develop a suite of formal policies based on outputs from your IP audit. This typically includes direction around trade secret management, IP ownership, IP risk management, IP protection, and roles and responsibilities.
Recommendations
We provide top-level recommendations for your business to implement based on the information we uncover throughout the process.
The cost of an IP strategy will vary based on the scope of the project. Typically an IP strategy will cost between £5,000 and £10,000, with many falling around the £7,500 mark.
The Intellectual Property Strategy Process
The IP strategy process always begins with an IP audit, as this is a pre-requisite. An IP audit can also be packaged into the same project.
The strategy itself is built around the output from the audit. We identify your business needs and create tailored policies based on these needs. Typically, this involves further consultation with key stakeholders in the business and discussion of draft policies. We will then deliver the final package.
Frequently Asked Questions
An IP strategy is like a personalised roadmap that shows how your business will take care of its brilliant ideas and creations. It helps you to use your creativity and innovation wisely as well as guard what you’ve worked so hard to achieve. Any business that understands the value of its innovations needs an IP strategy to protect it in order to maximise profits.
We tailor your IP strategy to you, your business, and your creations. Whether it’s in the MedTech space or something else entirely, we consider all the relevant factors such as ownership and risk management so we can help you to grow your business and protect your innovations.
Our IP strategy is designed to take factors and results from your IP audit and apply them as formal strategies. This often includes IP ownership, risk management, protection strategies, and anything else that may apply to you and your creation/s.
The cost of an IP strategy depends on the scope of the project. Typically, an IP strategy falls within the range of £5,000 to £10,000, with many projects costing around £7,500.
We begin the process with an IP audit to assess your IP assets. From there, we build a strategy based on what we find in the audit. This involves creating policies tailored to you and delivering a final package that guides your IP management towards success.
The Intellectual Property Works’ founder Stephen Carter is an IP attorney and IP strategist with over 25 years of experience, so you can trust you— and your IP— are in good hands! We also pride ourselves on taking a personalised approach to your IP rather than applying a one-size-fits-all method and simply hoping for the best.
Our ultimate goal is to extract as much value as possible from your business’ IP assets. This ends up with you having the advantage over your competition, and having peace of mind that you have a robust risk management strategy in place for if it’s ever needed.
The first step to developing your IP strategy is to contact an experienced IP strategist such as The Intellectual Property Works. With our decades of experience and industry knowledge, we take the time to get to know everything there is to know about your business and your IP assets so that your IP strategy can work hard for you while you do what you do best.
IP Strategy Outcomes
The outcome we envision for your business is likely the same one you have yourself— a strategy or plan that ensures the business can extract the maximum value from its IP. We aim to secure your competitive advantage in the market and manage the risk presented by the IP rights of others.
Implementation of the strategy or plan seeks to ensure that your business’ approach to IP supports your business goals and demonstrates its value to investors, other funders, and potential acquirers.
Why The Intellectual
Property Works?
At The Intellectual Property Works, we offer our services backed by years of experience and a genuine desire to help. With a focus on IP in the context of business goals and providing actionable outcomes, all at a fixed price, our biggest goal is to help you achieve yours. Ultimately, we ask the right questions to get the best result for our clients – and we have 20+ years of industry experience to guide us.
Strategise Your IP Today
Not every IP strategy is built the same, and in many cases, may be missing altogether. And with affordable and high-quality IP advice having been hard to find bundled in one package before, we won’t blame you if you’d given up looking. That’s why The Intellectual Property Works is here, and we can’t wait to show you how we work. To extract value from your IP at a reasonable price, contact us today.
