Assess
Stage 2: Initial Evaluation
The initial evaluation of an invention is a key stage to successful commerical exploitation in the market place.
During our evaluation stage we look at the following aspect of your idea or concept:
- IP protectability
- Technical feasibility
- Commercial viability
IP Protectability
IP protectability means the invention can be protected by a patent, registered design or know-how. Other forms of IP protection include trade marks and unregistered designs, however our process focuses on patents and registered designs.
As part of our IP evaluation we focus on:
- Does the invention have any assocaited IP
- Outline the invention step of the innovation
- Has the invention been disclosed to third parties
- The general IP landscape of the area of innovation
Technical Feasibility
Technical feasibility is whether the invention could be made into a product or into its final form at a cost effective price that would be attractive to the end user.
Technical feasibility focuses on:
- Is the invention technically feasible?
- What are the main challenges?
- What is the level of technical risk?
- Would third party technology/know-how be required to develop the product?
Commercial Viability
The commercial viability of any innovation is key to its success. A true innovation should solve a market need and therefore as part of our evaluation we look for the following:
- What is the problem to be solved?
- Are there alternative ways of solving the problem?
- Who would be the customers?
- What is the general market opportunity for the innovation?