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May 23, 2005
IP Foresight Is Missing
Maybe it is just me, but I have grown a little weary of firms complaining about competitive pressures as a reason that their margins are receding. While indeed market pressure are likely the cause of current woes, I think that the real reason for their slow downward spiral is a lack of IP foresight. Their margins are being eroded because they have not competitive advantage. Often firms think they can use their talent to stay one step ahead of the competition. This may very well be the case in some industries; however at some point you will start dealing with incremental improvements. If you have not spent the diligence to protect your early advancements, your firm will be in a features and price war when you were initially the market leader.
The next time you read a quarterly report of a firm crying into their beer, take a close look for anything resembling an IP strategy. I suspect you will find none.
Posted by David McFeeters-Krone at May 23, 2005 11:51 AM | Patents In Business