How to use IP rights to lead your company to sustainable success

Security instead of uncertainty - how to use intellectual property rights to lead your company to sustainable success

In order for your company to be sustainably successful in the marketplace, it is well known that it must assert itself against the competition. However, this is usually easier said than done.

Many companies and especially start-ups can be proud of many innovative developments, but are often overrun by competitors. As soon as the competition offers similar solutions or even legally copies innovations, the initial competitive advantage immediately fizzles out again. As a result, neither sustainable corporate success nor corporate growth is possible.

The battle for the pole position begins

Often a kind of vicious circle develops - the following is a negative example:

A product should be brought to market as quickly as possible. Time pressure and hectic pace dominate the project. For time reasons and in order to save costs, the protection of unique selling points (e.g. the invention) is waived. Within a very short time, the competition brings a similar product on the market - but with additional functions and at an attractive price. It is then almost inevitable to react with a price reduction, faster delivery time and an improved product. The initial hectic pace is taken to the extreme. The mood is tense, especially with regard to finances, and not only the CEO worries. But how can such a scenario be avoided?

Property rights as a success factor  

In our positive example, intellectual property rights play the decisive role:

Already at the initial stage of product development, research is used to identify relevant unique selling points. In this way, a targeted patent application can be filed early on to protect the core of the product.  Once the product has been launched on the market, the competition has consequently no chance of copying the product or offering it in a similar form.  The same applies to innovative technology. As a result, competitive advantages are sustainably secured and revenues will be solid.

And the end of the story?  

You simply apply for industrial property rights and business success follows automatically? Of course it is not quite that simple. Instead it is more important to pay attention your intellectual property rights and an intelligent patent portfolio. Your chances of success, possibilities and costs in connection with the competitive advantage sought, can be weighed up early on in order to steer towards sustainable success. An expert, preferably a patent attorney with the appropriate professional focus, can help you in the process.  

noventive patent attorneys are scientific or engineering professionals. Due to this mutual expertise, they understand your concerns on a professional level and find the best way for you to obtain comprehensive legal protection.

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Further information:
https://www.dpma.de/docs/dpma/nachhaltigesunternehmenswachstumdurchschutzrechte.pdf