Those who are focussed on building a competitive business realise the importance of understanding who their competitors are, what they are doing and where they are doing it. Competitive intelligence is knowledge that can give you an edge in your markets.
By tracking the direction of Intellectual Property in your space you can work out:
- present & future markets for others
- potential competing products/services
- marketing intentions
- what rights you need to avoid infringing
- who's new in the industry
- who a suitable business partner could be
Once you have this valuable market intelligence, the next step is to act on it, by planning:
- how to work around other's rights
- your R&D direction
- how to block off a competitive space
- what your branding strategies are
- how to challenge others rights - successfully & cost effectively
- what your filing strategies are
- whether you need to consider appropriate deal structures
- any border control strategies
- if ongoing intelligence gathering is needed
James & Wells Intellectual Property are experts in the Competitive Intelligence field. We can provide tailored packages to check on a regular basis where your competitors are at and work with you to devise what to do with this indispensable information -so you can have the competitive edge.
Contact us at James & Wells to discuss your options.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
James and Wells is the 2010 New Zealand Law Awards winner of the Intellectual Property Law Award for excellence in client service.
