Introduction
As a trusted service provider, we are partnering with our client, a leading company in the door manufacturing industry, to support their journey into the Smart Door business. Together, we are developing a winning IP strategy to strengthen their Intellectual Property (IP) foundation, helping them stay ahead of competitors, create valuable IP assets, and mitigate risks as they enter this exciting new market segment.
Diagnose: Assess the current position of the Client
The first step was to analyze the client’s existing IP assets and assess its position against its core competitors. A list of the components and technologies that are crucial for smart doors was created, and a diagnosis was conducted to establish a baseline in the following manner:
- Know your IP Portfolio and assess its coverage of the aspects of Smart Doors
- Assessment of core competitors to understand the positioning of the client’s existing IP portfolio
Design: Supporting Client on Smart Door Feature Development
Based on the Diagnosis, Evalueserve IP and R&D conducted the following to craft a detailed IP strategy:
- Comprehensive Competitive Intelligence: Extending the competitive intelligence beyond core competitors to identify threats from emerging players, door equipment manufacturers such as lock makers introducing new features for access controls, and software companies connecting doors to other apparatus in homes
- Product Analysis: Identify the new products and their features and assess the overall value that is being provided to the customers
- Brainstorming Sessions: Engaging with the company's team in collaborative workshops to brainstorm and identify next-generation features that would differentiate their products
- Strategy Creation: Creating short-term, mid-term, and long-term goals for technology development and subsequent protection by IP filings to ensure winning IP strategy
Deploy: Implementing the Strategies
The deployment phase emphasized strategic integration and continuous improvement:
Evaluation of Next-Generation Features: Assessing the potential of each next-gen feature based on the following:
- Whitespace: Extent of IP protection around each of these features and whether any of it could be considered opportunity areas
- Competitive Push: Look at competitors’ filing and inform the client if the client should pursue the features at a fast pace as competitors are crowding the areas, and it can become challenging to circumvent their patents
- Idea Harvesting: Advise the client that the ideas need to be further developed (more elements to be added and the work described), and then patent applications can be filed to protect them
Impact: Strategic Advantages and Business Impact of Optimizing IP Strategy
The collaboration and strategic study provided significant strategic benefits and positive business impacts:
- Enhanced Innovation and Competitiveness: By understanding best practices and technological trends, the company could streamline its R&D efforts and focus on developing unique and innovative features.
- Risk Mitigation: The detailed patent landscape analysis helped the company identify and mitigate risks, ensuring a smoother product launch.
- Strategic Clarity: The IP strategy provided guidelines on patent filings and potential collaborations, assisting the company in defining priority areas
Conclusion
Conclusion Evalueserve IP and R&D's comprehensive study and strategic partnership have empowered us to transition effectively into the smart door market. By leveraging industry best practices and competitive insights, we have enhanced our innovation capabilities, mitigated risks, and established a strong IP portfolio. This strategic approach ensures our sustained growth and continued leadership in the home improvement industry.
