Legal and IPR aspects will impact IP solution in two situations. One, while building the IP solution or product and second while selling (actually licensing) the product or IP solution.

For development, it can include how we develop the solution (i.e. Open source re-use, development from scratch, partner technology etc.). Kind of licenses to be in place and their implications on the engagement and business models with our customers.

From IP rights perspective, it shall include:

• Identification of IP Assets and associated IPR to be protected.
  • Copyrights (Software, Documentation,  etc.), Patents, Trade marks, etc.
• Study and analysis of potential third party IPR infringements by the product/IP solution. Any suitable actions/pre-cautions to be taken.

Based on the product offering, clearly list down the terms of licensing or services to be offered in association with product/IP solution. This shall act as input to the legal agreement documents to be prepared. All the legal and IPR related activities MUST be done with involvement of legal team. 

New product/IP Solution

After the approval of Business Plan, Product Strategist shall initiate the product strategy definition activity.

Existing product

The process is to re-define the product strategy for existing products for aligning with the market dynamics based on the periodic reviews. The frequency of this can be on quarterly, half-yearly, yearly or longer durations. The frequency of such product strategy review and re-definition shall be decided based on the type of the product/IP solution and industry to which it has been targeted to. It can also be done on-demand due to some specific events/reasons.\

Roles & Responsibilities:

Trigger/Entry Criteria:

• New Product: Business Plan approved.
• Existing Product: Specific action based on Product/IP business review & monitoring activity.

Exit Criteria:

Product Strategy Document reviewed and approved.