Inventions and Value Creation-Commercializing IP
The key assets of any company are its people and its IP. However, the Field of Dreams' model rarely works. To get the full value out of the IP, it is necessary to develop a strategy that meets the business realities and the market place. An aggressive, exclusionary posture may spur development of competing technologies, but giving away IP is unlikely to find favour with investors. Will you allow wide spread use of your IP while reserving the high value niches for yourself? Will you access other's IP by trading your IP for theirs? Can you segment the marketplace and generate value from an area in which you have no intention of competing? These are just a few of the options that will be discussed with the pros and cons vigourously debated.
Great ideas need nuturing and support if they are to reach their potential. This usually translates in to finacial support from venture capitalists. What do they expect in return? How much of a bargaining position do you have and what can you do to make yourself attractive to potential investors? Corporate structures can be critical in fulfilling the investors objectives. What is a compnay, who has what responsibility and how is control of the company exercised? What is the end game of the company, buy out or going public and where does management of your IP fit in to these objectives?