Practical Innovation Strategy Solutions

Simply put, practical solutions have the following characteristics, whether you are a not-for-profit research institute, small biotech company, IT business or multinational biopharmaceutical company:

  • support your business model and make success more likely for your inventions, products and enterprise

  • facilitate your business goals, including financing, transactions and exit strategies

  • are a key component of your enterprise’s overall strategic plan

  • take advantage of statutory and regulatory changes as well as relevant court decisions

  • optimize exclusivity from patents and other IP rights as well as the data and marketing exclusivity from regulatory agencies like FDA

  • deter market entry of future generic competitors

  • selectively limit your patent expenditures to the cases (and countries) where their strategic value and return on investment make them cost effective to pursue

  • make appropriate use of staff expertise and other internal resources in order to facilitate a culture of “ownership” yet are also informed by carefully chosen outside experts

  • include communication work flows to keep management informed and provide training

  • manage activities and costs for outside consultants and legal counsel

  • are more thoughtful and innovative than the cleverest strategies of your competitors

And, ideally, pursuing a practical solution will be enjoyable and a source of pride — although being practical trumps!