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Strategies to protect your IP
Rapid production & development
Rapid production & development
Some products have only a short-life span
Rapid production and development simply means that a product is produced quickly and put out into the marketplace before any competitor can copy or compete with the product. This is ideal for hitting the market with a product that has a short-life span. It may be a new product or a refinement of an existing one.
Innovative companies and those operating in a fast moving industry often adopt a strategy that combines the use of trade secrets with rapid production and development in order to protect these kind of products.
These companies keep ahead of their competitors with rolling plans for future innovation, enthusiastic and loyal workers, strong commercial skills and a bit of luck.
This is an excellent strategy when secrecy is critical during the production stage but not later.
It's also a very effective for products with a quick turnover and limited research and development requirements.
Brand loyalty
Building brand loyalty, usually with a trade mark, is a useful adjunct to a rapid production and development strategy because once your product is in the market you can do nothing to prevent others copying it. Ensuring that customers recognise your brand as the market leader may therefore be the best way to gain the competitive edge.
For products with a longer development and production cycle and higher research and development costs, a patent is usually more suitable.
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