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Stage of development of the Organization: The stage of development
of the organization should also be taken into account. At the initial stages
of a business while it is establishing a market, building and registering
its IPR should be focused on. At a developed stage, enforcement of
such IPR may take on a more significant role. And at a matured stage
of a business, increasing the brand value of the business by adopting
different measures etc. may be of prime focus.

Other factors: There are a plethora of factors that shall be taken into
account in formulating a robust and effective IP strategy. We do not
suggest an exhaustive list of factors rather the same may also vary
from organization to organization. Few important factors to consider
are: barrier to entry/market barrier, exit strategy, IP protection budget,
defined mechanism to regulate third-party interventions, including:
employment contracts, Key Person insurance, succession planning,
confidentiality agreements, development agreements, documentation
protocols, visitor protocols, award schemes, etc. licenses, IP trends,
technological development and trend, marketing trend, consumer focus
and evolving behavior, regulator’s behavior, local and international
legislations, forthcoming legislations, knowledge about both organized
and disorganized competitors, timing, auditing etc.

Organizations should conduct detailed market survey (i.e. product
valuation, return on investment, competitors’ positions etc.) before
launching any new product/providing any new service. The key issue
to be identified is if the brand, creative work or novel invention shall
provide a competitive advantage in the market. Organizations should
further look if the products/services are already in the market and if the
IP right for the same is already protected or not. Moreover, organizations
should also be updated at all times and stay vigilant on whether there is
any potential infringement of their IP rights by anyone and undertake
all possible actions against such infringement. In the similar vein, they
should also be careful in their organizational behaviors so that they do
not infringe the IP rights of others.

40 | QUEST : Intellectual Property