His view as a business man is of course practical and simple:
– you need to have a patent strategy
– you need to visualize your IP portfolio
– you need to have a business method.
He went on: you need to be honest about yourself, your company and your IP investments and take decisions.
What does it mean?
- Cut the poor dogs (IPs that don’t have market growth and market share).
- Be careful on question marks (IPs that can have a potential market growth but that still do not have market share).
- Profit from cash cows (IPs with big market share but maybe little market growth) and
- Focus on stars (IPs with big market growth and big market share)
IP Faber does think that market growth and market share is a good way to think in simple terms and get a complicated situation clear. What about a product that is still a prototype and doesn’t have a market yet?
What’s your take?
(Stars on a cow, photo courtesy of Mazda6 (Tor)’s at Flickr)