Post by Woody Walker on May 5, 2008 5:31:01 GMT -5
A patent offers legal protection, but it can be expensive to enforce. While you are pricing your product to recover your development and patent costs, unscrupulous pirates can undercut your price and steal your customers. Some of them have the resources to put off lawsuits for years.
A good marketing strategy can leave them with the crumbs:
www.intelproplaw.com/ip_forum/index.php?topic=8910.msg41854#msg41854
A good marketing strategy can leave them with the crumbs:
www.intelproplaw.com/ip_forum/index.php?topic=8910.msg41854#msg41854
Barriers to entry are a major consideration. A patent when issued and if properly written is worth a lot. It will help with the risk of pouring your blood, sweat and many dollars needed to take an idea to market. But there are many unethical companies who WILL become your competitor and have no regard for the law or the rights of others. Once your product is doing well enough to be noticed, they will knock it off. You can count on it. Patent pending or patented doesn't matter. Knowing that it can take tens of thousands of dollars to enforce a patent and most patent holders being small companies do not have the resources. So they get in, make money and get out if they have to.
I feel that as important as patents are, the company with the best marketing strategy, does a great job of building the brand and becomes entrenched in the minds of your customers will not loose too much market share to your competitor. Of course, a quality product, great service and a fair price are expected. AND never sell on lowest price! You'll never survive.
Instead of worrying about competitors knocking you off, put all your energy into the marketing plan, sell millions and be thinking about the next WOW idea you can launch and let your competitors have your crumbs. Great marketing can sometimes be more valuable than the patent.
I feel that as important as patents are, the company with the best marketing strategy, does a great job of building the brand and becomes entrenched in the minds of your customers will not loose too much market share to your competitor. Of course, a quality product, great service and a fair price are expected. AND never sell on lowest price! You'll never survive.
Instead of worrying about competitors knocking you off, put all your energy into the marketing plan, sell millions and be thinking about the next WOW idea you can launch and let your competitors have your crumbs. Great marketing can sometimes be more valuable than the patent.