Recently I wrote about the many innovation styles that I’ve encountered as a consultant in the world of business strategy. Perhaps the most recognizable is the Cowboy or Cowgirl – those people (or companies) that love coming up with a new idea. The excitement is contagious and often leads to immediate action. Invest! Patent! Hire! That full-speed ahead mentality can be immensely rewarding. After all, doesn’t society love the first in line? But jumping quickly into a new idea is not always a sound business strategy and it defies the personal style of many very successful business people.
Have you heard of Patent Prison? That’s my term for the quagmire that too many companies – especially brand-new ones – get sucked into when handling innovations. Odds are the company you’re currently working at has been there, too. Patent Prison is time-consuming, legally complicated and expensive. It can keep businesses from moving forward with new ideas.
After working with and mentoring hundreds (maybe thousands) of new and established companies, I’ve noticed that they typically fall into predicable groups. I decided to share these groups with you to see how well they stack up against your perspective.
Trump’s platform sends a strong message of support for intellectual property as an essential component to American innovation and economic stimulation. Moreover, his policy indicates tougher penalties against infringement and stricter enforcement of domestic and international intellectual property rights. This is encouraging, as are the potential ramifications of some of Trump’s policies.
I just came back from the Chicago Toy Fair and wrote about some of the hottest new toys I saw in my last post. Aside from the fun for kids, there were many takeaways for inventors and entrepreneurs that I’ll share with you here.
I’ll share more details about my favorites and the latest trends I saw in my upcoming blogs, but here’s a sneak peek at one of my favorites: the tiny, shiny Tesla. Ready to drive and create memories.
I just came back from the Chicago Toy and Game Fair, my second year to attend this exciting and fun event. The Toy Fair is a terrific opportunity to see new toys on the horizon and to assess which ones may become the next big hit.
I picked up my utensils and noticed the tiny white paper strip that held together the napkin rolled around them. Nothing fancy. In fact it was about as simple as you could get: a single snip of paper with some glue on one end, not unlike the sticky note made famous by 3M® years ago. But the detail that I consider the most important was the printing on one end: “U.S. Patent No. 6,644,498.” You know that caught MY eye!
To demonstrate the power of real-time patent activity information, the Pearson Strategy Group is currently providing free examples on 3D Printing, Aerial Drones (UAVs) and MEMS (Microelectromechanical Systems). These sample alerts are updated once a week, usually on Sundays, and offer a simplified demonstration of PSG’s most basic offering.
Don’t worry if the words “Due Diligence” don’t fill you or your colleagues with excitement, as most people are “normal” just like you. I’m probably one of the few folks who perks up when I hear the phrase. Let me help you understand how a little background research can be incredibly powerful for your business outlook and you’ll never make important decisions without Due Diligence again.