Mark Twain famously said, “there is no such thing as a new idea…” The reality is that greatness often comes by re-imagining and extending what already exists. What’s newly created is still unique and novel, just maybe a little familiar and occasionally spectacularly inventive.
With globalisation and Free Trade Agreements opening markets, there are now many more significant opportunities for both conflicts and value creation.
Protecting IP has two distinct value propositions.
- Risk Mitigation
- Value Creation
While both propositions always exist, there is often an emphasis to one.
Risk Mitigation is a strategic approach to developing a strong defensive position, should someone come knocking. Mitigation is important for all, but especially for SME’s and startups. It is somewhat like an insurance policy, securing IP assets so that there is a safety net if a conflict arises later.
Value Creation, as the caption implies, adds to the value potential of the IP. Assets are anchored and secured in all key markets and geographies, often extending/expanding the range of assets being protected, while also being much more vigilant in monitoring in-market activity.
There is a line between Risk Mitigation and Value Creation – and a question of when the line should be crossed and emphasis shifted. The answer often comes from pragmatic review of the business plan, taking into account the long-term vision, how scalable the opportunity is and what the exit strategy might be. These are all common indicators to where that line sits.
The place to start? A conversation with a partner at Gorton IP. We can provide advice to meet your specific circumstances and show how best to scale as your needs evolve. IP law is complex. Executing to a well-developed strategy turns that complexity into a competitive strength.
Find out more by visiting GortonIP.com
This is the full quote from Mark Twain – “There is no such thing as a new idea. It is impossible. We simply take a lot of old ideas and put them into a sort of mental kaleidoscope. We give them a turn and they make new and curious combinations. We keep on turning and making new combinations indefinitely; but they are the same old pieces of colored glass that have been in use through all the ages.”