Books Databases How you can protect them: Like trademarks, you have some rights to your original work without registering the copyright at the U.
The challenge that many ventures face, however, is that most investors will not sign non-disclosure agreements NDAsand NDAs are critical to maintaining the proprietary nature of the IP.
This article details the appropriate strategy for addressing proprietary IP in your business plan in order to attract investor attention while retaining the confidentiality of your inventions.
Focus on the Benefits of and Applications of the IP: The business plan should not discuss the confidential aspects of the IP.
Rather, the plan should discuss the benefits of the IP. Remember that even the most amazing of technologies will not excite investors unless it has tangible benefits to customers. The business plan first needs to discuss the products and services into which the IP will be integrated.
It then must detail the benefits that these products and services have to customers and differentiate them from competitive products. When applicable, it is helpful to include non-confidential drawings and backup materials of the products and services in the Appendix.
The business plan must also discuss how the benefits of the IP fulfill a large customer need. Secondly, the plan needs to discuss the marketplace in which the IP is offered and the size of this marketplace.
Critical to this analysis is determining the relevant market size. Focus on Competition and Competitive Differentiation: Your business plan must also prove that your IP is better than competitive inventions.
In identifying competitors, note that listing no or few competitors have a negative connotation. On the other hand, should there be too many competitors, then the market may be too saturated to support the profitability of a new entrant.
The answer -- any company that also serves the customer needs that you serve should be considered a competitor. Prove that you can Execute on the Opportunity: As importantly as proving the quality of the IP and that a vast market exists for its applications, the business plan most prove that the company can successfully execute on the opportunity.
Later, during the due diligence process, the investor will review the actual technology. At this point, a discussion regarding signing an NDA would be appropriate.
We regularly receive requests from entrepreneurs who want to hire Growthink but cannot afford our consulting fees. For this reason, we have developed a business plan template that allows entrepreneurs to quickly and cost-effectively develop professional plans.Intellectual Property Business Plan The intellectual property component of a business plan is instrumental in protecting and promoting engineering innovations.
Here’s how chemical engineers can provide valuable input into the preparation of an IP business plan. A business plan is a mechanism to ensure that the resources or assets of a business are applied profitably across all its activities for developing and retaining a competitive edge in the market place.
Describing Intellectual Property in Your Business Plan Most companies that are worthy of raising venture capital have proprietary Intellectual Property (IP). In fact, the quality of the IP and the management team are often the two most important aspects of a venture capitalist's investment decision.
Secondly, the business plan will typically refer to intellectual property (IP) and intellectual property rights (IPR)-protected elements to describe the company's unique specificities and the assets and resources that can be called upon for establishing win-win collaborations with clients, partners and investors.
Protecting your intellectual property is a crucial foundation for the success of any business. At the most basic level, protecting your intellectual property improves your competitive position. For example, if your product or idea is useful, new and nonobvious, patent protection may provide important barriers to competition.
An intellectual property (IP) business plan will allow you to do just that. The IP business plan is one compo-nent of a comprehensive business plan, which serves as a Intellectual Property — a set of rights in intangible .