For small businesses, concepts like IP have often been beyond their means and dreams. But this is the very first step to provide the exclusiveness that helps them grow .
Without a proper understanding of the subject, or training in it, IP can be a daunting domain for most. And how does that influence their strategy and market potential? As most of SMEs and MSMEs are operating in overlapping markets, the tension and competition arises, especially since they hold the advantageous means of making their offer known faster and unique selling propositions that seem more reliable. IPs provide just that. Through LEADERSHIP 4SMEs, businesses and start-ups that are still taking it step by step get the chance to protect their content and further leverage it to expand their business operations. (link intern don’t know how to do that)
Intellectual property is not limited to technology companies, but is valuable for every business which invests large sums in research and development for creating indigenous products and services. After all that effort, without IP secured, it would all have been pointless if some other company brings the breakthrough to the table.
But how can that be avoided? For startups and SMEs, intellectual property rights can be used as a marketing tool, to build brand recognition and a reputation for innovation. A patent, or even a patent pending, could be presented to the market with attractive intros like “the first,” “the best,” or “the only” . In this way, the product is secured and highlighted from the competitive others.
Also, the originality of expression representing the organization is protected through logo, copyrights, services collateral, website copy, etc. Another impactful way to leverage intellectual property at the startup stage is as a tool to secure investment. An intellectual property portfolio, however small, represents a protectable basis upon which to grow and is attractive to outside investors. Therefore, in a pool of competitiveness, your patent stands upfront.
When leveraged effectively, intellectual property can be a key value and growth driver at any stage in an organization’s life. This way, SMEMs and start-ups IP protected can develop their pending patents with the confidence that their innovation finds its way through competition without any issues.