The best early-stage technology companies integrate business, technology, IP, market communication, and go-to-market strategies and tactical plans with one another. From our experience, risk, competitve landscape assessment, intellectual property management, and costs to commercialize technology tend to be the weakest elements in business plans. Risk is inherent in building technology based companies, yet risk scenarios and mitigation tactics tend to be less well developed and loosely integrated into the plans. Competitive landscape assessment involves thorough review of competitors within the value chain and across the relevant market segments, analysis of threats from new entrants, substitute solutions, and potentially disruptive technologies. Intellectual property management best practices involve a portfolio approach, freedom to operate analysis, a stage gate process to manage the pipeline, and integration with the business model, competitive landscape, go to market strategy, external partnerships and funding, market communication and technology development.
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