Building an IP Business

Intellectual property refers to the creativity of the mind. It can be in several forms like providing innovative ideas, new inventions, or artistic work. Interestingly, the concept of intellectual property was first officially acknowledged in 1883 during the Paris Convention for the Protection of Industrial Property and the Berne Convention in 1886 for the Protection of Literary and Artistic Works.

Over the years, innovation became a buzzword of our time. Companies always look for their brand name to be synonymous with the word – innovation. They strive to build products or ideas that no one has built or launched in the market before.

When it comes to product development, today, outsourced product development has become the common norm for organisations around the world. The reasons for this are obvious: It helps in improving overall project efficiency and decreasing the time to market. It gives an opportunity to the companies to leverage the experience of the vendor and build better products. It allows the company stakeholders to concentrate and focus their time and efforts on company’s core business areas, instead of worrying about the technical aspects. At the same time, it optimises cost savings by reducing the extra overheads and unforeseen expenses.

At Inteliment, we follow a highly differentiated approach to product development –

• At Inteliment, the product development strategy involves developing new products, services, or ideas for new as well as existing markets. This strategy is driven by continuous research and development, brainstorming of new concepts as well as the ongoing assessment of customer and market requirements. Our aim is to deliver the right products at the right costs, combined with an experienced marketing support, and help our customers to stay competitive.
• We believe in keeping up with latest trends in the market, remaining on top of emerging technologies. This allows us to offer solutions that are customised for individual customers. This is a unique value that Inteliment boasts of as part of its product development outsourcing capability.
• Another important factor which Inteliment strongly relies on is its technology strategy. There is a dedicated effort to ensure that the latest technology is being adapted in a way that it does not become obsolete in the near future.
• People, processes, and technology are all important aspects that need to be considered for a successful end product. A ‘people challenged’ organisation could face issues such as the staff having outdated skills or lack of knowledge of new business process methodologies or architecture, design, and implementation skills. At the same time, following a rigid, process-laden approach might lead to ‘process challenge’ that often leads to delays in product delivery. Then ‘technology challenges’ include implementing technology options that are not in sync with the organisation’s goals or do not use the latest technology concepts. Inteliment has the right blend and balance of people, processes, and technology that ensure successful adaptation of its innovation drivers and eventually helps to build a robust product. We have a wide spectrum of technology expertise in the latest technology trends like IoT (Internet of Things), smart analytics, cloud computing, and product development.
• Most importantly, Inteliment believes in building long term relationships with its customers. This has led to creating an EDC or Extended Development Centre which is nothing but a dedicated development and innovations lab as part of its offshore delivery centre. With the concept of EDC, dedicated resources, and space with access restrictions are allocated depending on the needs of the customer. It includes added features like complete IT security, remote access, and a virtual development environment. The EDC also ensures complete IP security for every customer. Thus, the core idea of building this model is to materialise solid partnerships with the customers.

In today’s crowded professional services space, it is not easy to find a unique positioning. While it could be convenient (and, therefore, tempting) to fall back on safe ideas, I believe that to ensure a winning hand, you need to have a differentiated value. That’s exactly what we are trying to build at Inteliment!