The IP strategy of a company focuses on the management of existing and future intellectual property rights, such as patents, design registrations and trademarks. At Hoffmann Dragsted, we see patents as an investment. Therefore, we believe that it makes good sense to consider and plan how a patent portfolio may contribute to creating the intended return.
The underlying basis of a company’s IP strategy is the specific situation and position of the company and should match the company’s overall strategy and objectives. Patents can create value at various levels. For instance, patents may help improve a company’s market position, strengthen the competitiveness or increase the overall value of the company. Consequently, determining how an investment in patents can create value for money should be pivotal in the formulation of an IP strategy.
Another central IP strategy aspect of a more tactical nature is determining what rights to invest in – both in terms of what inventions, products or services to protect and in terms of how they should be protected. It may e.g. be worth considering if the expected gross margin and the anticipated sales figures for a specific product justify investing in patents in a large number of countries. Alternatively, another type of protection for the product may be selected, e.g. a design registration. Much money can be saved by patenting your invention in a few strategically selected countries rather than in many potential markets.
Hoffmann Dragsted can help you in all aspects of setting up an IP strategy – from the initial strategic and commercial deliberations and the more tactical decisions to the actual implementation and execution.