IP for Inventors/Entrepreneurs

Many inventors/entrepreneurs become enamored with their idea/concept and fail to look at it from a marketing point of view. There may not be a clear market for the product, or the best target market may be entirely missed by a rush to bring a patented product to market. More importantly, a completely novel product may require an education process for the consumers to understand what they have been missing all their lives. Few inventors/entrepreneurs have the financial backing for a prolonged educational marketing campaign while their product that is "ahead of its time" waits for "its time".

SBP works with these inventors to commercialize their inventions.

The COMPASS System provides marketing expertise to inventors/entrepreneurs:

• An early (after provisional patent filing) market needs assessment can vector claims to meet market needs
• A market is identified into which you are inventing rather than inventing to create a market
• Market entry for the patented product establishes a monopoly and would-be competitors are forced to "design around" your product
• Market segmentation is conducted and segment attractiveness is analyzed to identify methods of commercialization on a segment specific basis
• Strategic Partners and/or funding sources are identified by market segment
• Business Plans based on market needs met by patented products and funding requirements are developed

Bringing patent technology to market is especially difficult for the individual inventor/entrepreneur. They frequently must at least consider forming a company (business plan) in order to demonstrate the profitability of one application of their invention. Identifying business partners and licensing alternatives will frequently make the difference in profit realization. Many individual inventors exhaust their resources (financial & time) long before they bring their technology to a position where it can be commercialized.

Careful and consistent positioning of a technology, and an IP Plan, is key to eventually bringing it to commercial success.