NEW YORK, NY, Aug 1, 2014 - (ACN Newswire) - Interviews with Jeff Hohenshell & Jeffrey Skelton, speakers at the marcus evans IP Law Summit Fall 2014, taking place in Palm Beach, Florida, September 14-16, 2014.
- Jeff Hohenshell, Senior Patent Counsel, Medtronic
We seek to reinvigorate our growth by focusing on emerging markets, therapy innovation, and creative business models. Budget constraints in mature economies, the paucity of new medical therapies coming to market, and core business challenges represent a significant test for Medtronic. These factors elevate global legal strategies to a greater priority level at Medtronic than ever before.
Emerging markets represent both an Intellectual Property (IP) challenge as well as an opportunity. US-centric thinking is to be avoided in emerging markets as IP systems in emerging markets vary greatly. Aspects of foreign IP systems are often dramatically different than the US system. US attorneys rely on their instincts at their own peril when addressing IP issues in emerging markets. Leveraging local expertise has never been so important.
Therapy innovation outside the US is also becoming increasingly important. A common path to market is to introduce an innovative product outside the US first and to thereafter bring it into the US. This means that legal issues associated with a product are initially tackled in IP systems that are quite different than the US system.
Medtronic's Mission is to contribute to human welfare by application of biomedical engineering in the research, design, manufacture and sale of instruments that alleviate pain, restore health and extend life. There are no geographical limitations on this mission statement. Partnering with our physician customers and stakeholders is an important part of our chairman's "Forward, Together" strategy for global development and innovation. IP agreement support is vital to making Medtronic the partner of choice in the field of medical device innovation.
- Jeffrey Skelton, Assistant Vice President & Senior Intellectual Property Counsel, Cargill
I would highlight the following three strategies.
Know your business or product strategy well - With a fast paced and evolving global enterprise, it can be a challenge to keep formal protection of IP assets aligned with the commercial reality. Investing time and effort to fully understand both where your commercial team is active and where they will be active in the future, is key to having appropriate IP protection in place.
Be aggressive - While financial constraints will always exist, press your business to be aggressive with their formal filing strategies both on the trademark and patent side. Markets are developing fast and, if you do not exercise foresight in your filings you risk regretting it later.
Key technologies or products need robust protection - Global competitors are following each other faster and faster. Your investments in key areas of innovation or with new products must have a complete protection strategy in order to maintain any competitive advantage. Someone is always waiting in the wings to copy your idea and compete, protection is not a luxury it is a critical element of success.
About the IP Law Summit Fall 2014
The 18th IP Law Summit is the premium forum for bringing Senior IP Counsel within large and mid-market organizations together with service providers, for a focused discussion of cutting-edge technology, strategy and products driving the IP marketplace. Taking place at the Eau Palm Beach Resort & Spa, Palm Beach, Florida, September 14-16, 2014, the Summit includes presentations on IP licensing, legislation reform, and strategies for world IP protection.
For more information please send an email to info@marcusevanscy.com or visit the event website at www.iplawsummit.com/JeffHohenshell-JeffreySkeltonInterview
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