IP Strategy - The power of knowledge
Sun Tzu (Author of the Art of War) said: “So it is said that if you know others and know yourself, you will not be imperiled in a hundred battles; if you do not know others but know yourself, you win one and lose one; if you do not know others and do not know yourself, you will be imperiled in every single battle.”
Sun Tzu emphasizes the risk of being ignorant to your competitors and yourself. Opportunities will come from the knowledge of the strength and weaknesses of your business and your competitors business.
To find and exploit your competitor’s weakness requires a deep understanding of their capabilities, thoughts and desires, as well as similar depth of knowledge of your own strengths and weaknesses.
However most of the information needed for sound business strategy decisions is already available. You just have to create a process to capture and synthesize it meaningfully.
Monitoring the IP activities of your competitors can provide you with powerful insights:
- You will be aware of your competitor’s activities and about the state of their IP protection
- You will be alerted about new technologies that could affect your products and services
- You will be aware of changes taking place in your general business environment.
- You will be able to change your business strategy, in time, and to better guide the development and promotion of new products and services
- You will be able to intervene with infringements that may obstruct your activities and affect your economic growth
A good decision is based on knowledge. If you underestimate your competitors, you will most likely expose yourself. If you overestimate your competitors, you will most likely miss opportunities.
Please contact us, if you want to learn more about IP monitoring.
Martin Hjelm Kristensen