Bringing an innovation to market is a significant investment. This week, you discuss what a manager needs to consider to protect their innovation.
How important do you think intermediaries, such as patent attorneys, are in bringing a product to market? What services do you think these intermediaries can provide? Name some advantages and disadvantages of engaging an intermediary to support bringing a new product to market to help with patents, copyrights, trademarks, or trade secrets. When might you choose to go it alone?
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Sample Answer
Intermediaries, such as patent attorneys, can be very important in bringing a product to market. They can provide a number of services, including:
- Helping to identify and protect intellectual property (IP):Â This includes filing patents, copyrights, trademarks, and trade secrets.
- Negotiating licensing agreements:Â This can help to ensure that the company is properly compensated for the use of its IP.
- Resolving IP disputes:Â This can help to protect the company’s IP from infringement.
- Advising on IP strategy:Â This can help the company to make the best decisions about how to protect and use its IP.
There are a number of advantages to engaging an intermediary to support bringing a new product to market to help with patents, copyrights, trademarks, or trade secrets. These include:
- Expertise:Â Intermediaries have the expertise and experience to help companies navigate the complex world of IP law.
- Time savings:Â Intermediaries can save companies time by handling the paperwork and filing requirements associated with IP protection.
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