Chapter 11: Intellectual Property

The new venture organization should carefully protect its intellectual property. Trade secrets, patents, trademarks, and copyrights can provide significant long-term value for a company and create barriers to entry for possible competitors. An organizational plan that supports a collaborative, performance-based culture and a sound compensation scheme must be created to attract good talent. The acquisition of resources and capabilities and facilities will be planned for and initiated in order to build momentum for the venture. The management of operations, processes, and manufacturing will be described in an operations plan. A plan for outsourcing some activities and acquiring necessary assets and technologies will facilitate the early growth of the firm. Finally, the venture team will describe the potential for acquisitions, if any, and the plan for operating internationally in order to further stimulate growth.