Creating IP with impact
- publish258
- Mar 22, 2024
- 2 min read
Updated: May 22
Early stage? Little finance? No proof? Diffuse ownership? Three EPO case studies review how layer by layer IP creates a foundation for ventures in one of the most complex fields of innovation: fighting cancer
In the early inspired stages of discovery, most concepts are usually far from market with little funding, no proof and a diffuse outlook in terms of ownership. IP creates a solid basis by establishing the rights of the founders and how they can engage with business partners or users. In terms of cancer treatments, a core or platform patent is usually the first step, establishing exclusivity and securing time to develop and test the technology while exploring the market.
Options for the most promising uses are subsequently investigated, often resulting in more specific product patents down the value chain, as well as the accumulation of a portfolio around trade secrets, materials, prototypes and designs. As a product evolves between technology push and market pull, a new treatment will coalesce as a brand underpinned by a trade mark. Extra value is created at this stage too, with artificial intelligence used to track metrics on how a treatment performs and what can be improved next.
An overarching IP strategy will provide guidance and filter where, when and which IP rights to pursue, based on the venture’s overall objectives. As it grows, a set of IP policies will be put in place and someone will take responsibility for overseeing the portfolio to make sure that the IP is proactively managed. Protocols around confidentiality and non-disclosure will be established early on, as well as how these requirements are communicated to fellow researchers.
At each funding stage, investors will check the robustness of an IP portfolio to protect their investment and whether the business is ready to scale up. Ultimately, it is the IP that will determine the venture’s success and constitute its main source of value as an asset.
The EPO case studies follow the path of three promising concepts to combat cancer. The case studies highlight how these concepts were managed over a cycle of ten to twelve years to create treatments and diagnostics that are already in use – or close to adoption – and starting to give genuine hope to millions of people at difficult moments in their lives.
Typically, as such a venture, you face a series of dilemmas as you progress. Early on, should you bring in an additional partner or a co-founder? At what stage can you then seek venture capital without diluting control or giving away too much? To what extent can you pivot your technology in light of what you subsequently discover? How do you structure yourself to serve different markets? Are you going to maintain your independence and invest in the challenges of building your own sales? Or will you opt for a trade sale to assure yourself of faster adoption? IP creates a foundation to give you the agility to shape how you make all these choices and realise the full value of your innovation.
• See here for the full version of the article about the EPO’s three case studies of innovative ventures that are turning their IP into an asset to fight cancer.
