How to Conduct an IP Review to Align With Business Goals
Nigel Chen-Tan
Empowering Start-ups & SMEs with Strategic IP Guidance | Helping Innovators Turn Ideas into Market Success | Bridging Science, Business & Practical Solutions
When scaling your start-up or SME, intellectual property (IP) isn't front of mind compared to immediate operational concerns. However, without a clear understanding of your IP assets and how they support your business objectives, you could be leaving significant value untapped or exposed.
In my career, I’ve been privileged to work with businesses in manufacturing and emerging tech that were on the cusp of growth but lacked a coherent IP strategy. A common challenge of these businesses is the escalating IP costs. Prosecution fees, renewal fees, and maintenance. These costs often become an anchor that hinders or even destroys their business. This article will walk you through the essentials of conducting an IP review that doesn’t just lists your assets, but aligns them with your long-term business goals while managing costs effectively.
What is an IP Review and Why is it Essential?
An IP review is a systematic evaluation of your IP assets. These include patents, trade marks, industrial designs, copyright, trade secrets, and know-how. It goes beyond compliance and legal protection to answer two key questions:
For start-ups and SMEs, an IP review isn’t just about recording your assets. Its about ensuring that your IP is a competitive advantage, and not a financial burden.
Steps to Conducting an Effective IP Review
1. Clarify your Business Goals
Before thinking about IP specifics, it is important to first clearly understand your shot and long-term business goals. Are you aiming to expand internationally? Enter a new market? Build strategic partnerships? Your business goals will shape the focus of your review.
Example: A manufacturing start-up with a business goal to license its tech globally will prioritise patent protection and freedom-to-operate analysis.
2. Identify and List Your IP Assets
Taken inventory of your existing IP, including:
3. Assess Alignment with Business Objectives
Evaluate how each asset adds to your business goals. Ask:
4. Identify Risks, Gaps, and Cost Drains
Look for potential vulnerabilities and financial inefficiencies:
5. Develop a Roadmap
Based on the findings, create a roadmap that highlights:
Case Study: Netflix’s Strategic Use of IP
Netflix is well known as an online streaming giant. However, Netflix’s growth story is also a masterclass in IP management. Early in its journey, Netflix faced challenges with competitors copying its algorithms for personalised recommendations. Instead of spreading itself thing with blanket IP coverage, it focused on strategically protecting its key proprietary algorithms while simultaneously securing trade marks and copyright for its brand identify and original content.
By prioritising high-impact IP assets that aligned with its goal of dominating the online streaming space, Netflix fortified its competitive edge while reducing unnecessary costs. This strategy enabled it to expand globally, strike licensing deals, and build a war chest of original content, all underpinned by a well-managed IP portfolio.
Why This Matters
Many businesses approach IP reviews as a legal or compliance exercise. I take a different approach. I see IP as a foundation of your business strategy. It is a multitool that creates value, secures partnerships, and helps you to scale sustainably. A review isn’t just a checklist. It is a critical step in aligning your intellectual assets with the future of your business while ensuring that costs don’t become a burden.
If escalating IP costs or strategic misalignment has been holding you back, it is a great time to rethink your approach. Let’s work together to transform your IP into a growth enabler rather than an anchor.