INTELLECTUAL PROPERTY PROTECTION

INTELLECTUAL PROPERTY PROTECTION:
Generally, a firm tries to protect its intellectual property in three ways:

INTELLECTUAL PROPERTY STRATEGY


PRODUCT- MARKET CONTINUAL LEGAL
ACTIONS INNOVATION STRATEGY

Standards Continual Improvement Patents
Barriers to Imitation Cannibalization Copyright
Collaborative Product Platform Trade Secret
Agreements Radical Innovation Trademarks

1. A firm may undertake actions in the product market to prevent competitors from eroding its competitive position through imitation. For example, it may invest in advertising; develop a system of licensing with exclusive arrangements with the licensees, or shut out the distribution channels to potential imitators.
2. It may focus on continuous innovation to thwart imitation and obsolescence. Continuous innovation enables a firm to keep one step ahead of the competition by introducing, for example, a series of new products.
3. The firm may seek legal protection through patents, copyrights, trade secrets, or trademarks. When a firm seeks recourse in the legal system, it relies on the intellectual property system of a country to defend or protect its intellectual property from competitors.

PRODUCT-MARKET ACTIONS:
Strategic action in the product markets may thwart imitation and obsolescence.
IMITATION: For competitors to imitate, four set of requirement to be met.

· Recognition
· Diagnosis
· Resources
· Costs and incentives
Actions undertaken by a firm that are visible in the marketplace include:
· Engaging in the battle for the standards
· Erecting entry barriers
· Limiting pricing
· Making collaborative arrangements
OBSOLESCENCE:

CONTINUAL INNOVATION:
· Incremental innovation
· Product cannibalization
· Product platform and product family
· Radical innovation

LEGAL STRATEGY:
· Patents
· Copyright
· Trade Secret
· Trade marks