Competitive IP strategies are designed to enable building and strengthening an IP portfolio as well as activate its competitive power by identifying the various competitive uses it can be put to. The blueprint provided in Chapter 8 provides a general guide as to the nature and purpose of these strategies and their variations depending on the primary form of IP. The following steps apply regardless of the form of IP and should be undertaken at the strategic level (see also about money investment).

Step 1: Define the Competitive Purpose. The choice of competitive IP strategies depends on a number of factors, including the desired competitive result and the level of resources that need to be committed to operationalize a particular strategy. Each of the strategies also has a different focus: while "design around" strategies focus on the activities of particular competitors, "build a fortress" strategies focus on the competitive landscape in general. The stage of growth, or life cycle, of a particular business area should also be taken into consideration as it indicates to a great extent whether the expected return warrants the use of the needed resources. Exhibit 13.5 lists the various factors that indicate when the use of a certain competitive IP strategy is most appropriate (see also about how to invest).

Step 2: Combine between Short- and Long-Term Competitive IP Strategies. One of the most important considerations in the choice of competitive IP strategies is to maintain a balance by com­bining various competitive strategies. Some business units, however, may adopt one strategy as their predominant one, depending on the nature of competition in their line of business and their stage of development. The strategies mentioned require varying levels of resources, and have expected returns that range from short- to long-term benefits, as shown in Exhibit 13.6. The vari­ables shown in Exhibit 13.6 should be used as a guide to combine the strategies in order to maintain a balance between short- and long-term return, as well as small to extensive resource commitment. This should be done in association with the creation of the innovation portfolio under the IM stage (see also about investment).

Step 3: Value Transference Strategies. Using value transference strategies outlined in Chapter 8 involves the following:

• Looking beyond the primary form(s) of IP for such secondary forms of IP (or the primary forms of other business units) that have a strong market value (see also about business model)

•   Using this strategy to revitalize a brand and hence preserve brand equity by transferring value from the right of publicity of a celebrity to brand equity, through celebrity endorse­ments

•   Using it with copyrighted works to transfer value from the original copyright to new derivative copyrights based on new versions of the work, to dress the old work with fea­tures that respond to new market trends (see also about money investment)