AU2006200174A1 - Method for Commercialising Inventions - Google Patents

Description

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o Method of Commercialising Inventions Field of the Invention.

This invention is directed to a method which can facilitate uptake of commercialisation of inventions. The method is particularly directed to a procedure which takes into account the relatively restricted timeframe to file intellectual property rights (typically patents) in overseas countries. And the strategic competitor oramifications of the automatic patent publication date.

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Background Art.

0 It is well-known that many good inventions fail by not being commercialised within time and therefore allowing competitors to take significant if not total market share.

Thus, there is an advantage to provide a method which would increase the rate of successful commercialisation.

It is also well known that many inventions lose market share due to failure to adequately or properly protect the invention with intellectual property rights, typically patent rights. There are many reasons for this, but a major reason is the lack of funding. Therefore, if a method could be provided that could enable inventions to be more rapidly commercialised and possibly funded more quickly, the potential loss of market share due to failure to use intellectual property rights effectively could be reduced.

There is also a general level of ignorance in the marketplace to the effective working interrelationship between intellectual property rights, the ability to obtain funding (for instance via grants), the correct time to test the invention and the like. Therefore, there would be an advantage if a method could be provided that could at least partially overcome these disadvantages.

Some attempts have been made to promote commercialisation of R&D, or inventions.

For instance, USA patent 2004230397 relates generally to methods of doing business and systems for implementing those methods which improve the effectiveness and o success of the research and development of technology such as pharmaceuticals, biotechnology, agrochemicals, medical technology, and genomics.

More particularly, the inventive methods include the application of value and cost modelling methodologies to provide a research and development organization with information and data which will assist it in making choices and decisions about its prospective products and the manner of research and development thereof in order to o realize the greatest economic gain from commercialization of the products.

o USA patent 2004143530 describes a business model for the diversification of risk in ci 10 connection with works of art includes accepting from various artists works of art to be pooled in a collective investment fund. A financial instrument is issued to each particular artist in consideration for one or more works of art contributed by that artist to the fund. Revenues are generated on behalf of the fund through commercialization of the works of art in the fund. A portion of the revenues is distributed among the artists participating in the hind according to vested interests in the financial instruments held by the artists. A particular artist having a vested interest in one of the financial instruments is entitled to receive an amount of the revenues based on the collective commercial success of the works of art contributed to the fund by all the artists.

USA patent 2003101073 describes a system that strengthens and commercializes intellectual property. A server posts on-line a plurality of pending IP, each pending iP including one or both of an image and associated text. A network connects with the server so that others may publicly access the pending IP. The server receives information from third parties regarding the pending IP; such information can include one or both of prior art and terms (to buy or license) for at least one of the pending uP.

The server may process the prior art to automatically submit a statement to the Patent Office in regard to the prior art. The server may search databases connected with the network to identify one or both of companies and individuals associated with technology similar to the pending EP, and automatically notify one or both of the companies and individuals about the pending EIP.

USA patent 2002064765 relates to methods for industrializing academic research 3 O technologies. More specifically, this invention is related to methods to gain access to a broad array of important new molecular targets discovered by leading academic scientists and to provide platform capabilities to systematically commercialize these drug target discoveries for producing new drugs for these targets. By these methods, the industrialization of academic technologies is broadly enabled, whereby the functional utility, ease of use, and wide applicability of the method in industrial drug discovery and development constitutes progress in science and the useful arts.

O There would be an advantage to provide a method that could also maximise the 0 I 10 product life cycle and therefore the prosperity of the product in the market for the long term.

There would be an advantage to provide a method, or business system which could maximise the opportunities for small inventors who currently fail due to the complexity of steps required to enter the market with a new invention.

It will be clearly understood that, if a prior art publication is referred to herein, this reference does not constitute an admission that the publication forms part of the common general knowledge in the art in Australia or in any other country.

Object of the Invention.

It is an object of the invention to provide a method which may overcome at least some of the above-mentioned disadvantages or provide a useful or commercial choice.

In one particular form of the invention, there is described a mentoring process to facilitate success of inventions, the mentoring process being substantially illustrated in figure 1.

In a broader form of the invention, there is described a process to facilitate success of invention, the process containing at least some of the features illustrated in figure 1.

In another form, the invention comprises a mentoring process to facilitate success of inventions, the process comprising applying for intellectual property protection (for

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o instance patent protection) in a country which is party to the Paris Convention, conducting a review of available government grants, preparing a research and development plan, conducting a workshop, and testing the business dynamics of the invention, preparing a business plan, applying for government funding (if available), S conducting prototype testing, conducting a manufacturing checklist, conducting a commercial entry strategy, all the above steps be conducted within 30 months from othe earliest priority date of the patent application.

o In another form, the invention comprises the form described immediately above 0 S 10 together with an intellectual property strategy check for overseas patent applications, a market entry step, and a review of at least some of the steps.

Best Mode.

Following the numbering sequence on the diagram mode (Fig the following description of an embodiment of the invention adheres to the numbers.

1. IP application When an inventor decides to seek IP protection as a general rule they are unaware of the time limitations and restraints (imposed by Patents Act, Treaty) placed on the confidentiality and protection period which begins by the application (lodgement for a patent.) Often, some legal advisors and many Government advisory bodies are also unaware of these the time restraints.

The most important time and deadline impositions are (depending on type of patent applied for) 12 months from the application date; 18 months from the application date (publication), and 30 months from the application date. If these deadlines apply and IP protection periods end, the opportunities for commercialising the invention with IP protection in place after these dates are compromised and can result in the collapse of the commercialising process and 3 0 possible subsequent financial loss.

Another rule that can seriously impact on the inventors commercial activity planning is the rule that at eighteen months from the application (with some Ob o exceptions under certain conditions) the patent details are published.

In certain markets, where competitive activity is strong and likely to have impacts on the introduction of a new invention, publication could be a crucial activity.

Therefore the awareness of the inventor of this situation is important to the construct of his commercialisation planning to reduce the opportunity of competition.

0 0 This modelling business method aims to teach the inventor and mentor the o inventor along a pathway to ensure that all the commercialisation activities are I 10 completed in time to maximise the opportunities for the invention within the time constraints placed by the various IP effecting rules.

The present invention addresses the problems where an inventor, due to insufficient knowledge or information, might lose commercial opportunities, and one form of the invention makes an inventor aware of these restraints and the mentoring "Lift off" programme at the earliest opportunity in the IP protection process. It is envisaged that the mentoring process will be supported by legal advisors and Government advisory agencies who deal with early enquiries from budding inventors.

2. R&D Spend? This step has two purposes; one is to establish if the inventor has actually stopped inventing as the research and development of an invention will impact on what type of IP protection is appropriate Provisional or Standard). The second purpose if development funds are being spent, it impacts on registration for taxation relief and that registration has implications if funding support is being sought via Government programmes. The research and development planning ultimately is part of the business plan development (step 8).

The time restraints impacts at this stage are that provisional or basic applications last for 12 months only and applications for Standard patent applications restrict the overseas opportunities to 12 months or under the PCT arrangements months from the date of application.

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0 3. R&D Plan The value of an R& D plan is particular to this mentoring programme as it not only defines the R& D activity so that the inventor can access certain Tax advantages and Government grants but is also should be directed toward the o identification and confirmation of the inventions marketplace competitive 0 advantage which the invention must possess to be successful within the business odynamic process.

ci When this review indicates that significant money is necessary to be spent on R&D, an R&D Plan is developed, either by the inventor or by the users of the method of the present invention. The plan outlines the various actions to be taken in regards to research; the person assigned to these tasks; outcomes to be measured; and the development phases necessary to develop the invention to concept stage. The R&D Plan must conform to the taxation requirements and various Government agencies that may be approached for funding.

Competitive advantage is defined as an advantage over competitors gained by offering consumers (or users of the invention) a unique advantage over what is currently available by way of better value, improved efficiency, or other client benefits that sets the item apart from its competitor. IP itself on a particular invention is considered by some as a competitive advantage in certain market situations.

4. Registration for Taxation benefits As the mentoring process will incur costs at various points along its path the need to register for tax relief early is vital as time constraints apply also for the tax relief itself as well as the IP protection.

It is important, that the inventor understands the eligibility criteria for obtaining R&D tax concessions. In Australia, it is usual that they must register as a Pty Ltd company, have an approved R&D plan and lodge registration of R&D activities o with the Industry Research Development (IR&D) Board as prerequisites.

A review of the stages above will determine if the inventor is eligible for R&D Tax concessions/rebates and if so, they are advised to register for these taxation rebates.

Registration must be lodged annually within 10 months of the end of the company's oyear of income.

Workshop (Lift-off) 0 This step is important in that all inventors filing for patents or making enquiries regarding patenting are invited to these workshops. Participates are presented with a detailed overview of the stages that need to be completed in the journey from idea to successful market entry. It also provides detailed information on the time limits that must be observed regarding the various patents, PCT decisions and International Patent deadlines. Other elements of IP are also introduced and explained in detail. The need for establishing a Pty Ltd Company is also explained at this early stage as there can be taxation and funding ramifications if the incorporation is undertaken at a later stage.

As the Intellectual property protection process gets under way it is essential to hold a meeting with inventor or preferably a number of inventors and introduce them to the mentoring plan. This workshop which might include not only inventors, but other appropriate professionals such as Accountants, solicitors, or engineers, Is primarily for the purpose of ensuring inventors are aware of the time constraints and therefore limitations upon the process of commercialisation.

It is also for the identification, definition, and clarification of the competitive advantages of the invention. This step would also introduce the inventor to the process model and require the inventor to place his/her invention in the model to 3 0 determine what stage of development or commercialisation it was at.

6. Testing the Business Dynamic

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o The test of a business dynamic is determined by the invention itself, each invention is likely to be different and therefore require a different test process. A business dynamic might be for instance the competitive advantage and the ability of the inventor in the market place to maintain that competitive advantage.

Therefore it could be the test of the investment and time spend in the development of the invention. Properly the study should have the wisdom of input ofrom appropriate professionals, selected from our network of IP experienced 0 professionals.This test would also establish if funding was required to move the cO oinvention forward.

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010 This stage in the Mentoring Process is important. At this very early stage in the process of developing an idea into an invention capable of success in the market place, a rigorous analysis of its success potential is undertaken. The idea is that it is important for the inventor to realise the potential success or otherwise before a large amount of money on their idea is spent.

The model outlined in Figure 4 shows the process steps to market (Loop R1). The Business Dynamic (Loop R2) provides a detailed analysis of the potential business. It will also become the central foundation for the ongoing operations of the new business should one be established to handle the invention in the market place.

When the inventor has completed the Lift-Off Workshop and the testing of the Business Dynamic, they are enrolled into the mentoring program. This program commences with the development of a detailed Count-down to Market Entry Plan that is tailored specifically for each inventor. This plan outlines the steps the inventor will need to take in order to develop their invention and launch it into the market. This plan takes into account the specific requirements of the patent timeframes so that important decision points eg PCT, International Patents, etc are met.

The Mentoring Plan also identifies who is responsible for each stage of the process.

This might be the inventor with our mentoring supervision, or it might require outside professional assistance to complete a particular stage of the process.

0 o 7. Funding required.

ct Once the investor has signed up for the Mentoring Process the next stage is to determine whether additional funds are required in order to develop the invention. If additional funds are required the source of these funds need to be identified and Invention Pathways present the mentored inventor with a range of funding options for otheir consideration A Business Plan needs to be developed in order to support any 0funding application.

S 10 If government funding assistance is needed the first thing to do is prepare a business plan for the invention..(all Government funding sources require a business plan Presently there are about 40 or more different Government schemes that are aimed at new innovative enterprises. Each with a different set of criteria for application. The private funding arena also requires business plans and an additional step of proof of concept making sure the idea actually works) Sourcing private funds is usually done with a professional fund sourcing organisation and the criteria for application usually has an emphasis on the long term profit possibilities of the invention, with a careful look at the business management structure.

8. Business plan preparation.

As the inventions vary and business plan emphasis varies the careful selection of the structure of a business plan for each situation is important. The situation presently is that a variety of consultants will prepare business plans with emphasis relating to their knowledge of the business which in most cases up until this Invention Pathways process has been developed, has not taken into account the intellectual property pathways, limitations, opportunities and time restraints.

Invention Pathways will provide a business plan that strictly takes into account the 3 0 limitations, rigorous and strict time deadlines for IP protection.

Consultant notation. In the past many commercial opportunities being missed because the business plans failed to basically inform about the time limitations placed w 0NO on the commercialisation process by the intellectual property protection process for each market. The IP application time rigours of doing things at certain times and in certain order varies according to the country that the IP protection is sought. In none of the 'known' commercialisation plans is there a reference to the point that a strict IP timeline restraint must be part of the planning process.

oThere are numerous outlines for business plans in the market, but few are rigorous enough, yet succinct enough for the owner and financiers to quickly determine the o facts. The Business Plan should be a 'bankable document' that funding agents can use 10 in determining whether or not to lend money for the venture. It should also be simple for the owner to actually implement the actions /activities outlined within it.

The Business Plan of the method of the present invention centres on the Business Dynamic (Loop R2 above) and includes the owner's vision, values, background history and clear objectives. It also includes detailed review and analysis of the Industry, Market, Products, Production, Pricing, Distribution, Organisational structure, Human Resources, Policies, Quality Controls, Intellectual Property, Exit Strategies, Planning Assumptions and Financial Budgets and Cash Flows.

9. Government funding applications.

Depending on which fund an inventor applicant is trying to access and which department and Government administers the process, all funds are different in their processes and requirements.

Most inventors are frustrated at the amount of paperwork and other requirements; therefore Inventions Pathways mentors the completion of the applications Most inventors are not aware that there is no current funding for individual inventors and therefore individuals cannot apply, but Companies (Pty Ltd's) can, so the need to incorporate brings about the need for legal advice. Again Invention Pathways knows where to get the IP and business start-up experienced legal assistance for this step.

But in a general sense all funds will need the following things as a part of the

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o application, and it is the process of the Invention pathways unique mentoring that can provide support of the inventor to prepare the requirements of each fund:ct Usual requirements might be Business plans, Proof of concept data, marketing research data and strategies, Prototype demonstrations, Australian standards data, Engineering drawings etc 0 0 At present there are over 40 different funding schemes within Government, each with o complex requirements and application forms that can be up to 26 pages in length. We I 10 review our mentored inventor's requirements and select the appropriate scheme for them to apply to for funding. We then supervise the development of the application and assist where necessary.

The Invention Pathways particular suggestion that is often overlooked is an IP strategy Investor Funding Most private funding sources require the usual list of things (as above) to support the application for funds, but the requirements of 'Funding Angels' or private investors can be less administratively daunting than the government, but perhaps more rigorous in regard to the need for equity or other guarantees for return on the invested funds.

This brings about a change of emphasis at the business planning stage and may lay a greater emphasis on the Feasibility of market entry and proof of concept matters that are specific to the project focus. This in turn may require the services of a specialist financial advisor and accountant...This is where the mentoring of Invention Pathways can also pay off by guiding inventors towards appropriately IP experienced professionals.

In the event that the inventor's application for Government funding is unsuccessful, we assist the inventor to select and approach investor funding. This may be from a Bank or Equity/Venture Capitalists 11. Prototype/Concept Testing.

Various inventions require prototypes to test, plus some will require to meet IND 12 o regulation requirements eg on safety and Australian Standards. This will mean specialist advice and testing in some instances.

Many inventors will waste a lot of time, effort, and perhaps money in pursuing inappropriate testing which can also jeopardize the timeline requirements. A more difficult situation occurs where changes to the invention are required (say to conform to some regulatory or design requirement) and this situation in turn can oput the features of the invention outside of the patent protection applied for. This 0 again will insist on careful mentoring back to the IP professional such as the opatent attorney to affect the IP claim changes required. Invention Pathways will 0 10 be, by virtue of the close association with the commercialisation of the invention and the Patent Attorneys who originated the patent application will be able to achieve this, albeit within the imposed time constraints on the process.

The inventor is assisted throughout the stages of concept and prototype testing through our Mentoring Program. Specialised expertise is employed at the appropriate times so that the development is kept on track within the Patent timeframes necessary to be met. We have developed a wide range of specialists, including some overseas, who our inventors are able to call on during this stage of development Check list This point in the process of mentoring is where a check on activity is made with the aid of a check list appropriate to each invention and business plan.

A typical Concept Prototype Testing Go/No Go Checklist for this prototype development and concept testing stage is as follows: Concept Prototype Testing Go/No Go Checklist CAD drawings finalised and approved Prototype specifications developed Prototype format determined CAD drawings modified (if necessary) Prototype specification modifications completed Prototype CAD and specifications signed off Prototype manufacturer selected o Manufacturer visited Confidentiality agreement signed Prototype production cost agreed Prototype production with manufacturer agreed Prototype produced Prototype approved oPrototype tested in limited customer market 0 Customer feedback analysed oModifications to CAD drawings (if necessary) 0 S 10 Specifications undated Prototype reproduced Prototype retested in market Feedback analysed Prototype approved and signed off (go to Lift Off Step 4) 12. Timely decisions re IP protection.

If an inventor has lodged an application for a patent the clock ticks from that application/priority date and the critical decision making points from then on occur at 11-12 months from priority date, when if a PCT application is lodged, a further critical time is 29-30 months from the priority date. At that stage decisions regarding overseas market commercialisation decisions have to be made or opportunities for IP protection commercial advantage in those markets, is lost.

Also the automatic publication of the patent specification and application can have dramatic implications for the competitive activity in the market place.

In previous situations prior to mentoring, clients miss the critical dates through lack of understanding, simply forgetting, or not being reminded by their planning process or their legal advisor.

A more prevalent reason is that clients simply do not realise the importance of the

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0 critical dates early in the invention patent application process and the work required to take the invention/prototype development forward takes longer than most expect.

The effect of not taking the IP protection into the overseas or local markets can be financial losses equivalent to the potential earnings from that (overseas) market. It ocan also mean that it could open the opportunity for competitors, and results in 0 incalculable loss of business image and reputation.

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The value to the inventor of mentoring the invention development and commercialisation is for the reasons stated, important to begin early in the process, as soon as possible as the application is lodged to insure the inventor can make informed choices, and decisions.

13. Reporting The funding source whether government or private will require a process of reporting on progress. The check list application in stage 11 is used in this stage to input detail to that report.

This is the stage where entry into the market is imminent and requiring accuracy of data and less guesswork simply because it is the stage where legal agreements for manufacture, distribution and getting into the marketplace agreements of all types is usual and important to get right. Reporting back to the investor on progress will require reports of all types accounting, management, prototype testing, testing of concept, and in turn has the ability to impact on the commercial entry strategy section of the business plan.

14a. Review Business Plan A review of the Business Plan is undertaken at this stage to ensure that the activities listed have been successfully accomplished and that the longer term goals are still realistic. A close analysis of the Business Dynamic (Loops R1 and R2) is undertaken together with a review of the potential need for International Patents.

As part of this review we identify the type of manufacturing process the inventor INO 0 o needs to undertake.

ct 14. Commercial entry Strategy As part of the business plan the commercial entry strategy is an In Progress or evolving strategy relying as it does on input from the prototype development/testing results and subsequent concept testing. The commercial oreality is that direction of activity commercially hangs on the ability of the invention to perform satisfactorily in the hands of the user. It also allows odetermination of the all important competitive advantage, sometimes called, the

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10 unique client benefit, valued by the user of the product. Surrounding the competitive advantage there is all of the attending business support processes that become in this model the Business Dynamic The business dynamic is the cornerstone (which has to be nurtured and maintained) as the lever in the normal business cycle, to provide an on going profit to the business in the long term.(see Lift Off 17,18,19,20.) One of the early questions that an inventor has to answer is the effect all of this invention commercialisation activity will have on inventors and their family lifestyle. Whilst the question is put and considered earlier, the answer has to be available at this stage as it will have a profound effect on the Commercial Strategy.

Primary consideration (effect on Lifestyle) By now the process would have given enough data to estimate the effect on lifestyle Effects on Lifestyle.

It has been noted that inventors as a group concentrate their focus on the potential earnings from their invention. Very few ever give a great deal of thought of the effects on their lifestyle. Life style is affected obviously in areas of daytime work, relationships, their skill set of EG ability to research, knowledge of the marketplace, and management ability etc will all increase or lessen the effect. Consideration of the work involved and a careful explanation of the work steps involved for whatever w I16

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O pathways they take with their invention does help with informed choices regarding the commercial direction of the activity for putting the invention into the market-place.

When lifestyle questions are resolved the pathway matter of self manufacture or getting the manufacture done by others has to be considered.

oThe two pathways can be modelled and typical models are illustrated in Figures 2 0 and 3. These are only demonstration models and there are midway models where operhaps an inventor still gets invention parts manufactured by others but he may I 10 assemble himself) but the steps involved are all critical to the success of the commercialisation process. How critical each step is depends on the invention and the inventor, and of course prevailing market conditions. No one pathway is perfect each has its hurdles and opportunities. The life style change potential will impact most on this critical decision for the inventor.

The Manufacture Lift Off check list This is the stage where a final check of the situation in made prior to actually placing the product on to the market.

Because the actual invention, inventor decisions, and market situation from this point on will be specific to each product, we will undertake a check of all of the necessary activities prior to the market entry.

A typical Manufacturing checklist is provided below: Manufacturing Checklist: Product specification completed (operating instructions, Standards, disposal, etc) QA production manual completed Factory requirements developed (capacity, equipment, certifications, current products, management, lead times, payment IND 17 0 o terms, QA) Short list factories Factory visit and confidentiality agreement signed Production costs agreed Production lead times agreed Legal contract with factory signed off oFactory QA manual issued 0Pre-production sample produced oProduction sample meets specifications S 10 Order Placed Production samples tested to QA Products packed Delivered Products inspected and accepted.

Packaging Checklist: Packaging design approved Packaging colours approved and PMS codes identified Typesetting approved Printing lead times agreed Printing quotation and sample approved Order Placed Order received Order inspected and accepted Packaging materials send to manufacturer/packer.

Point-of-Sale Checklist: Design approved Colours approved and PMS codes identified Typesetting checked and approved Printing lead times agreed Printing quotation and samples approved Order placed

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Delivery received, inspected and accepted.

Having determined the type of manufacturing arrangements with the most potential for the inventor, an analysis of the target manufacturers is undertaken and targets identified. The inventor is assisted with their approach to the target manufacturers and introduce them to other professional services eg Solicitors wherever necessary. As opart of the mentoring process a watching brief is taken over the manufacturer/Inventor

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0 interactions to ensure the inventor gains the appropriate pricing, quality and o production outcomes.

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01 (N 16. The National Phase IP strategy( overseas opportunities) This step is where discussions relating to national applications will take place with the inventor and his licensor/ manufacturer for the possibility of continuing the IP in overseas countries. It should benefit by input from the Lift off programme and feedback from the market feedback, customer research, and the commercial strategy as to the feasibility of entry into these markets.

It is vital to finalise this decision as the opportunity to place patents in overseas patent offices ends at this point if not taken up within the 30 months from Priority date.

17. Lift Off Market Entry any market) The start of the product in the market place is entirely subjective to the product and the market and the Invention Pathways mentoring programme consists of a checklist for ensuring that all the go/no go checks appropriate to this product and situation has been completed. (A sample check list is provided below A Strategic Marketing Plan is developed to further refine the price, position and distribution strategies. This plan also identifies the most appropriate method of market entry and identifies the key targets to that entry. Research is undertaken to enable our inventor to understand the organisations, their strategic positioning and key personnel that will be encountered in presenting the invention. If the inventor lacks the skills necessary to develop and deliver a professional presentation to major buyers, then this 0 o can be outsourced.

ct Lift Off Checklist Market Entry: Promotional Plan developed Product launch costings determined oChanges in industry identified (products, players, customer needs) 0Research of target entry organisations completed o Target entry organisation selected

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Contact names and buying policies and procedures identified Presentation developed Samples available Point-of Sale available Buyer/ Agency appointments made Travel arrangements completed Interview outcomes identified and agreed Preferred 'move forward' options agreed Training (where needed) Post launch market research and marketing support determined Trading terms agreement issued and accepted Agency agreements signed off (if this method of distribution used) Initial Order received Products invoiced and delivered on time.

Monitoring of product entry to market assigned to specific people.

18.& 19 20 Business Dynamic, Planning and Review These steps reflect a generic market entry and maintenance loop and complete the mentoring inasmuch that the normal business function for a new product in the market relies on the maintenance of the product competitive advantage and that might be by further R&D need to be maintained by further IP on the product.

In many cases this is where the inventor establishes their new business. It is o important that they receive professional guidance throughout this period as close to of all new businesses fail within the first 5 years. Invention Pathways continues to mentor inventor during this period by taking a watching brief over their activities and providing advice when and where necessary. Some of the activities include reviews of staff selection, organisational structure and geographic locations, trading term, policy and procedure development and implementation as well as monthly oreviews of financial performance.

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o An annual review of the Business Dynamic (Loop R2, Figure 4) to ensure that the S 10 business results and resource investments are directed to the further development of Distinctive Competencies that are essential for the maintenance or enhancement of the Competitive Advantage.

The results of the Business Dynamic review are fed into the Strategic Planning process and new strategies are formulated where necessary in order to achieve the desired business outcomes over the next five years.

The final objective of the mentoring programme is the prosperity of the product in the market for the long term. The final loop( steps 18,19,20) wherein the business dynamic is to keep the product having a unique customer advantage, are steps to have a regular review of the market situation and apply any remedial improvements required to lengthen the Product Life Cycle.

Successful products go through many development changes, some of which take up the advantage of the Intellectual Property Protection, which will keep competitors at bay.

This Invention Pathways Mentoring business system is designed to maximise the opportunities for small inventors who currently fail due to the complexity of steps required to enter the market with a new invention.

Invention Pathway's Lift off programme is specifically designed to assist inventors who in normal circumstances would find the journey difficult or impossible 0 0 Throughout the specification and the claims (if present), unless the context requires otherwise, the term "comprise", or variations such as "comprises" or "comprising", will be understood to apply the inclusion of the stated integer or group of integers but not the exclusion of any other integer or group of integers.

o Throughout the specification and claims (if present), unless the context requires otherwise, the term "substantially" or "about" will be understood to not be limited to

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o the value for the range qualified by the terms.

0 ,I It should be appreciated that various other changes and modifications can be made to any embodiment described without departing from the spirit and scope of the invention.

Claims (4)

1. A mentoring process to facilitate success of inventions, the process comprising applying for intellectual property protection (for instance patent protection) in a country which is party to the Paris Convention, conducting a review of available government grants, preparing a research and development plan, conducting a oworkshop, and testing the business dynamics of the invention, preparing a business O 0 plan, applying for government funding (if available), conducting prototype testing, o conducting a manufacturing checklist, conducting a commercial entry strategy, all the O I 10 above steps be conducted within 30 months from the earliest priority date of the patent application.

2. A mentoring process to facilitate success of inventions, the mentoring process being substantially illustrated in figure 1.

3. A process to facilitate success of invention, the process containing at least some of the features illustrated in figure 1.

4. A process substantially as hereinbefore described with reference to the figures. DATED this 17 th day of January 2006 Invention Pathways Pty Ltd By their Patent Attorneys CULLEN CO.