Medical devices must undergo regulatory review and approval before they are permitted to be sold commercially. This process can take years and is an expensive undertaking. Before expending the time and resources necessary to obtain regulatory approval, it is critical for companies to confirm that they can prevent copying of key features of their product and also that they will have the freedom to sell the product without infringing upon IP of others. Without a clear IP strategy, medical device companies will have a difficult time securing investments and with M&A.
LINKS
Read "Why IP and Product Diligence is Especially Critical in the Medical Device Industry," co-authored by Ginger Pigott and Christopher C. Bolten, published by Medical Design & Outsourcing.