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Intellectual Property makes you or your business worth more than you can be worth on your own. IP lets you command a premium for your s

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ervices. It lets you make money in your sleep. It lets you create a business that can be sold to others or passed on to your heirs.

To

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

o often IP discussions focus only on legal rights: patents, trademarks, copyrights, trade secrets, domain names and right of publicity.

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

These are important, of course. But the are the merely legal tools for protecting key business assets. The starting point for IP sho

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

uld be the underlying assets: information, innovation, content, brands, names, reputation, websites, and more.

Applying IP rights to t

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ese key assets can create value in four important ways.

1. Charge a premium for your goods and services.

Consider generic cola v. CO

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

KE. Why is one worth more? Because Coca-Cola has used IP to enhance the value of a simple commodity. It receives a premium because it

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

as a secret formula and a distinctive well-known brand. Generic cola has a formula, too, but its not secret; it also has a name, but it

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

is not distinctive. Anyone can make cola and use the cola name. IP keeps COKE from being copied. The formula is protected as a trade s

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

cret and the brand is protected as a trademark.

2. Earn additional revenue.

Consider the average software developer v. Microsoft. The

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

software developer is a knowledge worker paid for her labor. If she doesn't work, she can't make any money. Without her work, her busi

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ness has no value. Microsoft uses IP to turn the product of many knowledge workers into property that can be licensed and sold. Once th

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

t is done, Microsoft can make money without further time and effort from the knowledge worker. Copyrights and patents are the IP rights

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

that keep others from copying Microsoft's products.

3. Increase market valuation.

The value of a commodity business is typically the

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

book value of its hard assets. The market value of an S&P 500 company is usually several times book value. The difference is largely th

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

e value of IP.

4. Create marketable assets.

Markets exist for the resale of IP rights. Ross Perot has invested in a $200 million IP f

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

nd based on patent assets. David Bowie raised $57 million selling bonds backed by the royalties in his recordings. These financial stra

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

tegies let IP owners cash in on IP assets.

Corporations, entrepreneurs and business owners can benefit from the strategies by turning

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ore of their business assets into valuable IP assets. Unfortunately, many ignore simple, inexpensive steps to secure these rights, lea

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ving others - like Apple, Microsoft, and IBM - to charge ahead. What are you doing to secure your business success in the Internet age

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Organizing to exhibit at an exhibition can be more than simply renting an exhibition stand and then turning up on the day. There are numerous things you need to consider including:
- Ensuring that your staff members are well trained and prepared for the show
- Your staff have the correct and appropriate uniforms

When you want to market your products or services, the first thing you need to do is to determine your target market. Once target market is determined, you can then use the four P in marketing to decide how to approach your target market.

With a wide variety of home loans available in the market, the vast majority of people are most likely to find themselves lost in the ocean of options.

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