IP Assessment & Plan
You always want to be pushing out to the limit of how far you can go in terms of futuristic applications because the further you can get your thinking into the future, the more likely it is that you’ve got fewer pieces of prior art to deal with.
An understanding of the IP related to a company’s technology, and alignment of IP strategy with business strategy, is critical for maximizing the value of innovation and R&D activities. For any product lines or development initiatives involving technology not generally in the public domain, an IP assessment could be conducted on a periodic basis.
The IP assessment should be accompanied by an IP plan to address any issues identified in the assessment and to align the IP strategy with the business strategy.