Xellect
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Xellect
Xellect

Consultancy

“Strategizing, valuation and portfolio…big words but simple underlying tasks, which when performed, will help realize business goals.”

Providing a stimulating environment is important for ideas to flow from the technically skilled personnel. Once the ideas start flowing, capturing the ideas in a standardized format to facilitate further steps in developing the ideas generated is very important. Further, when the ideas are being reduced to practice, documenting all of the intermediate steps from ideation to reduction to practice is also very important. All these go into proving various points such as due diligence, inventorship etc.

IP auditing is a good start for IP management. It provides an idea of the kinds of patents in force and those that have expired. IP housekeeping, while time consuming, is very important and useful to have an idea of what one has and doesn’t have. Without it, one would never know and never can be sure of it.

‘IP First’ is a motto that is being increasingly adopted by many firms. This mode of thinking will result in chalking out clear pathways for the kind of IP protection desired. Once the path is chosen, all other resources can be appropriately allocated. A strong strategy for research and development will then be put in place, as well as posing severe market barriers for any potential competitors. This kind of strategizing aids in a strong business development.

Periodical check on IP assets also involves a good IP portfolio management. This kind of management requires decisions based on technology expertise, market studies, market position, business strategy, IP strategy, value of active patents, etc. Decisions regarding maintenance and abandoning of patents are then made, as well as tying this information back to the strategy. This also assists in ensuring that the strategy put in place is being adhered to strictly.




 
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