It is important for every company to have a business development strategy from the outset of trading as it will govern the company’s actions going forward. The strategy identifies whether the company intends to develop the end product itself by building a manufacturing and distribution force; utilise a downstream licensing strategy to enable others to commercialise the technology; or whether it plans to have a combination strategy and outsource certain aspects of the commercialisation to a third party. You may find the 7 Step Guide and the Guide on Accessing Innovation useful. Once the strategy has been created, a company will then be able to identify at what point additional (third party) technology is required. The strategy will need to be continuously reviewed and updated as the company broadens its activities.

<<Legal Guide Contents|Step 2 - Identify the Intellectual Property >>