The commercialisation plan is an essential tool to:
- clarify and validate the opportunity
- guide the progress of the venture, comprehensively but flexibly, and
- assist in securing the support of funders and other participants.
In addition to covering all considerations in all sections above, an IP commercialisation plan should:
- evolve as circumstances change
- include the due diligence that preceded the plan
- not attempt to promote the opportunity to potential participants, but rather support separate information produced for that purpose
- not exaggerate or attempt to mislead in its assumptions, estimates and claims
- outline the venture’s vision and mission
- contain detailed market evaluation, including competition analysis, marketing strategy, predictions of expenses, income, and relevant assumptions,
- incorporate a SWOT analysis (Strengths, Weaknesses, Opportunities and Threats), and
- discuss the exit strategy
- remain a secret until IP is registered and only shared when NDAs are in place.
Many commercialisation plan templates are available online and may be useful, but all will require some adaptation to suit the particular characteristics of each unique IP venture.