Questions, answers and resources
What is this?
Different markets have different requirements, so it's important to do your due diligence and draw on in-market expertise and knowledge. Having clear information will you ensure you have adequate time and budget to launch successfully.
Risks
- Your product can't be sold in a particular market
- Your product results in legal action against you
- You need to retrospectively meet compliance standards
Resources linked
- (Directory) International consultant directory | Provided by Upwork
- (Reference) International Organisation Standards Accreditation | Provided by IANZ
- (Reference) Register a food business | Provided by MPI
- (Reference) NZ & International Regulations and Standards | Provided by SGS
- (Reference) Trade associations directory | Provided by SiteSafe
- (Reference) HealthTech Activator | Provided by Callaghan Innovation
- (Reference) NZ Professional Bodies register | Provided by ENZ
What is this?
In some markets, protecting the patents you own requires ongoing investment and a clear strategy around protecting your IP during the product's lifespan.
Risks
- Your IP is not secure
- Your product is superseded by a similar and cheaper competitor
- Someone else gains the rights to your designs
Resources linked
- (Capability) Beyond IP | Provided by Callaghan Innovation
- (Reference) NZ Professional Bodies register | Provided by ENZ
- (Reference) NZ Patent and Trade Mark Lawyers | Provided by NZ Institute of Patent Attorneys
What is this?
Before investing time or money into planning an in-market launch, or making assumptions based on making sales in that market, do your due diligence first. There may be restrictions you are unaware of.
Risks
- You cannot operate in a market you were banking on
- You need to make expensive changes to your product, packaging or sales approach
- You encounter prohibitively high regulatory costs
Resources linked
- (Capability) Beyond IP | Provided by Callaghan Innovation
- (Reference) NZ Professional Bodies register | Provided by ENZ
- (Reference) NZ Patent and Trade Mark Lawyers | Provided by NZ Institute of Patent Attorneys
- (Reference) HealthTech Activator | Provided by Callaghan Innovation
What is this?
Your product may offer value to users in ways you don't expect or immediately identify. Early stage user testing and consumer research may help you find unique benefits that you can use to support your sales and marketing, or to help identify new audiences.
Risks
- You overlook an opportunity to evolve the product or add value
- You overlook the synergies that exist with other existing products or services
- Your product is underpriced for the value it delivers
Resources linked
- (Capability) Beyond IP | Provided by Callaghan Innovation
- (Reference) NZ Patent and Trade Mark Lawyers | Provided by NZ Institute of Patent Attorneys
What is this?
Be sure to have clear agreements about ownership and responsibilities. A strong relationship where everyone knows where they stand will be more commercially robust.
Risks
- You lose control of your IP
- You end up in a legal dispute that costs time and money
- You miss the opportunity for co-operative innovation with your partners due to tensions over IP ownership
Resources linked
- (Capability) Beyond IP | Provided by Callaghan Innovation
- (Reference) NZ Professional Bodies register | Provided by ENZ
- (Reference) HealthTech Activator | Provided by Callaghan Innovation
What is this?
Customers of all sizes are increasingly interested in the environmental impact made by the products they buy. For many, purchase will be conditional on knowing your product is manufactured to particular standards.
Risks
- A more sustainable competitor gains the advantage over you
- Your environmental record is publicly criticised
- You fail to keep pace with new regulations
Resources linked
- (Directory) International consultant directory | Provided by Upwork
- (Reference) International Organisation Standards Accreditation | Provided by IANZ