Strategic Intellectual Property Management and spin offs during Medical Device Innovation and commercialisation
Intellectual Property (IP) protection for medical technology innovations is a milestone, generally undermined by Start-ups. Effective and timely IP protection acts as a lifeline for entrepreneurs/start-ups as it not only helps them attract investments and get competitive advantage but also enables marketing tie-ups and potential acquisition by larger companies. This article delineates the strategies for effective IP protection during different phases of technology development to enable medical technology innovators unlock IP potential of their innovations thereby gain competitive edge as well as reap financial rewards. Some interesting case studies and experience sharing by entrepreneurs have also been included for empirical understanding and to serve as practical tools for innovators working in medical device innovation space.
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