READ AT
http://www.aidsmap.com/The-generic-generation/page/2541038/
DRUG APPROVALS BY DR ANTHONY MELVIN CRASTO .....FOR BLOG HOME CLICK HERE
amcrasto@gmail.com
http://newdrugapprovals.org/
DRUG APPROVALS BY DR ANTHONY MELVIN CRASTO
All about Patents and Intellectual property by DR ANTHONY MELVIN CRASTO, Worldpeaceambassdor, worlddrugtracker, Ph.D ( ICT, Mumbai) , INDIA 30+Yrs Exp. in the feld of Organic Chemistry, Serving chemists around the world. THE VIEWS EXPRESSED ARE MY PERSONAL AND IN NO-WAY SUGGEST THE VIEWS OF THE PROFESSIONAL BODY OR THE COMPANY THAT I REPRESENT, amcrasto@gmail.com, +91 9323115463 India
The IC is able to assist you with writing your business plan.
The Marketing Plan, on the other hand, focuses on how you will introduce your product to the market, through the 5 P's, i.e. Product, Price, Promotion, Place and Personnel, otherwise known as the marketing mix. Some of the questions that must be addressed in the Marketing Plan include:
The Marketing Plan should also include a SWOT analysis of your business. A SWOT analysis involves determining the strengths and weaknesses within your company, as well as the opportunities and threats outside of the company.
- What features or benefits does your product have?
- Who are your customers?
- What are the personality traits of your customers?
- Do they have a high disposable income?
- Are they price sensitive?
- What influences their buying decisions?
- What pricing strategy will ensure that the target market is reached?
- How should you let customers know about your product?
- What is the best way to get your product to the customers?
- Where should your business operate from?
- Where should you sell your product?
- Who should sell your product?
- What are the expected marketing costs?
- What are the expected revenues from selling your product?
There are a number of different sources of funding for fundamental and applied research. Some of them are listed in the figure. Once it has been recognized that the research has commercial potential, the invention enters into the commercialization process. This may involve proof of concept, further development of the idea, preliminary market analysis etc. Funding for this stage is usually in the form of angel investment or seed funding, though other sources include the NRF's THRIP and Innovation Fund schemes and the Biotechnology Regional Innovation Centres (BRICs). Angel investments are high risk, early-stage investments usually made by wealthy individuals or groups of individuals.
Angel investors are often family members or close friends and are usually experienced and successful entrepreneurs looking for new challenges and investment opportunities. They will probably get heavily involved as mentors to new start-ups in which they invest. Seed funding is also for new ventures in the initial phases of commercialization. This funding instrument is not directed towards R&D, and is also high risk capital.
The next funding stage, which forms the natural exit opportunity for angel investors or self-funded entrepreneurs, should be venture capital or private equity investment. These investors will normally only invest after proof of concept or prototype development. They invest either in potentially sustainable and competitive companies or in the final development, marketing and licensing or sale of inventions to existing industry players. Venture capitalrepresents later stage funding that is usually invested by specialized VC firms who manage funds on behalf of investors. Investments are usually made into medium to low risk ventures for a significant equity stake in the business. More than one venture capital firm may invest in a company, even at an early stage in its development. Venture capital firms, apart from providing funds for development, usually provide assistance with business development and management and access to their extensive business networks. Venture capital firms take a risk when investing in new ventures, and therefore require high returns on their investments. The firms usually exit the investment and make their money by selling their shares in the companies. Typically this happens when a company makes a public offering, or when it is acquired by another company. Private equity is late stage funding typically reserved for existing businesses with established track records of profitability that wish to expand operations. This instrument is also utilized in the funding of management buy-outs and similar deals.
- Biotechnology Regional Innovation Centres (BRICs) located in the Western Cape (Cape Biotech Trust;www.capebiotech.co.za), Gauteng (Biopad) and Kwazulu Natal (LIFElab; www.lifelab.org.za). Funds available from the BRICs are directed at the development of biotechnology in South Africa, and therefore are limited to biotechnology projects that are aimed at application in industry. Please visit the respective websites for more information on the procedures and criteria for applying for funding.
- The biotechnology-focused seda-funded incubator, eGoli BIO Life Sciences Incubator (www.egolibio.co.za) in Gauteng. The incubator provides business support to projects at various stages of commercialization. Please visit the eGoli BIO website for more information on the procedures and criteria for assistance.
- Innovation Fund (www.innovationfund.ac.za), administered by the National Research Foundation (NRF). The Innovation Fund supports projects in various focus areas that are aimed at commercialization. Funding is usually for a period of 3 years. The NRF has also established a seed fund to bridge the gap between the Innovation Fund and venture capital funding. More details can be found on Innovation Fund website.
- Patent Support Fund, administered by the Innovation Fund. The fund provides assistance to public research institutions by covering a portion of all patenting costs.
- Department of Trade and Industry (DTI) (www.dti.gov.za) incentive schemes, which are not specifically aimed at the commercialization of research but which may apply to some aspects of it. Examples include the Technology and Human Resources for Industry Programme (THRIP) and the Support Programme for Industrial Innovation (SPII). Details of these schemes are available on the DTI website.
Each of these factors must be examined before deciding on how to commercialize an invention. Some of the available routes are discussed in more detail below.
Royalties can vary from 0% for technologies or products that are licensed out at the idea stage to 10% for a product with a captured market and distribution channel.
If the license is based on a patent, the level of royalties may decrease, or the license may even expire at the end of the patent life. The issue of license term is more complicated when the license is for know-how. A reasonable approach toward a know-how license is for the royalty to diminish with time and eventually reach zero when both parties agree the know-how would be no longer of value. However, if know-how is essential for the successful manufacture and sale of the product throughout its lifetime, there is no reason for the royalty to change. Also, a licensor may make continual changes in the know-how and pass those to the licensee. Again in this situation, royalties may be collected for a very long time.