Innovative thinking is something Steven Brown of Etienne Lawyers is renowned for.
He has done it again.
At the same time, how do you:
- explain the complicated and intricate creatures of statute called intellectual property; and
- illustrate how to commercialise a trademark, patent, integrated circuit right and other forms of intellectual property?
Usually, the process is not fun or often is not informative. Etienne Lawyers has changed all that.
Commercialisation is the new ground backing game that in a fun way: yes really, fun and engaging; runs you through a scenario of you being the Managing Director of a business that is launching a new product.
The game puts in control of a company. You have the power to make the decisions to make or break the new product. Will you be the most successful of the participants to launch the product on to the market or will you fail?
You have in front of you a board. The board contains some basic information and the cost of acquiring each form of intellectual property protection available to you. You are taken through the scenarios by Steven Brown. You receive an overview of the types of Intellectual Property the plot deals with and the need to be profitable. To help you in what happens next, Steven gives a brief explanation of the forms of intellectual property.
The game gives you a starting project budget. With the limited starting budget you have to decide between the following:
Do you buy IP protection at the risk of not having money to produce the new product?
If you get IP protection what types of protection can you take?
By going through the rounds of the Commercialisation scenarios you see how your choices play out. You can see if your decisions make or lose money for your company.
The game allows you to take risks and try your luck or to be risk-averse and see where that strategy leads you. It simulates the real world choices businesses face. With my limited resources how much do I spend on protection against how much do I use to make a success of what I am doing?
This is an age old dilemma. Robert Wannamaker the father of modern day advertising is reported to have said:
"Fifty percent of my marketing dollar is wasted.
But I do not know which fifty percent."
As Steven Brown explains it:
"If you spend money on getting all or as much protection as you can afford, and you are never challenged on your intellectual property rights, is that because of the protection you obtained, or is it just good luck. But by spending money on defence, you have less money to spend on armies to attacked and gain ground.
For businesses: do you spend money on intellectual property protection or use what money you have to make your business so successful that you put off competitors for entering the market. Who would now seek to enter into the cola market. Coke and Pepsi have been so successful as to deter all new entrants to this market.
In truth, you will never know. It is like the times
of castles. A King who built a grand fortress and is never attacked. Was it due to luck or the fact that he build the grand fortress which deterred his rivals attacking such a formidable castle?
Commercialisation allows you to test your theories and see what happens."
With others playing you can then debrief at the end of the game to see what others did.
Commercialisation allows you to learn valuable business lessons in a risk-free manner.
Your results can then be taken to the real world.
Not only is Commercialisation fun but it is a real-life business simulation. As in the real world, you do not have the money to do everything. You need to take risks. Commercialisation allows you to take risks and then see what can
happen. By playing you are getting business experience in a quarantined environment.
The inaugural launch occurred on 2018 at the Breed Bottomline Series. Around twenty current and prospective entrepreneurs attended.
Comments from those that attended included:
It is a groundbreaking way of informing you of the complicated subject of Intellectual Property.
If you have the need or desire to find out how the intellectual property in your business can be commercialised, having Etienne Lawyers run you through Commercialisation is a must.