Is Intellectual Property important when expanding overseas?
Do you have ‘freedom’ to operate in your chosen market?
Or will a rival accuse you of Intellectual Property infringement?
Being prepared is being forewarned…..
Background: In 2001 FTSE 250 Biocompatibles International Plc was a leading British provider of drug eluting stents with great prospects. The company expanded into the US and formed a marketing partnership with Abbott Laboratories for their highly profitable stent.
Patent infringement. Abbot was sued for patent infringement by J&J. Abbott then passed the liability onto Biocompatibles.
Biocompatibles was forced to pay a royalty fee (patent license) to J&J, which significantly eroded their profit.
Outcome: Biocompatibles issued a profit warning, due to the sudden erosion in margin in their stent business. Their share price fell 38%.
In March 2002, Abbott Laboratories, acquired the devalued stent business from the company for $234.5m. (And subsequently sold it to J&J!)
Scanning the landscape for intellectual property and in this case patent issues, can make a lot of sense especially when expanding your business overseas.
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Exalt IP experts in business Intellectual Property.
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For over 20 years I have been helping business to Win With IP: Using intellectual property to protect ideas, creations, inventions, and competitive advantage.
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