MEDICAL DEVICES
In the fast-changing consumer medical devices market, companies must seriously ponder how to use their IP assets strategically. Successful IP programmes require systematic planning and preparation, with the key elements of the IP lifecycle considered. First, a competitive and technology landscape should be performed to assess strength, weakness, opportunity and threat. Ten, an IP strategy should be developed that is consistent with corporate business goals. Once the strategy is in place, the right patent portfolio can be built through innovation and acquisition, evaluating technical merit, market impact, evidence of use, supportability and claim language.
Te final critical piece of the IP lifecycle is to put the patent portfolio to work through well- planned and well-executed IP programmes. Tis is where many semiconductor and consumer electronics firms have historically excelled. An effective programme includes selecting the appropriate patents and the right products to target, while considering business goals and strategy. Performing upfront research and analysis on target products based on comprehensive knowledge of the industry, its products and technologies pays off in results.
This article sounds a warning for companies entering the burgeoning medical devices space. In what will inevitably become a rapidly evolving, high-volume, consumer electronics market, the stakes are high. Early players can gain substantial competitive advantage by effectively levering their IP. It should be expected that the IP management practices honed by semiconductor and electronics companies over the past 20 years will be aggressively applied, despite the added complexities of the regulatory environment. In addition to patent filing practices, this includes the use of product teardowns and advanced semiconductor reverse-engineering techniques for competitive intelligence and IPR initiatives. Competitors, especially those whose previous experience is derived from the pharmaceutical industry, need to prepare by adopting similarly rigorous and proactive IP management policies, including a structured, IP life-cycle approach that aligns with corporate goals.
Gary Johnson is the vice president of business development for UBM TechInsights. He can be contacted at:
gjohnson@ubmtechinsights.com
Gary Johnson is the vice president of business development for UBM TechInsights, where he focuses on medical devices market development. Gary advises clients on a range of technology and intellectual property issues to support their technical innovation, cost control and IP management efforts. Gary holds a Bachelor of Science - Electrical Engineering degree from the University of Minneapolis, Minnesota and has over 20 years’ experience in the medical devices market.
62 World Intellectual Property Review November/December 2010
www.worldipreview.com
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