Protecting Intellectual Property for Businesses

The assignment discusses the significance of tangible and intangible assets in business operations. It highlights the legal framework surrounding intellectual property protection, including copyright, trademark, and patent laws. Using Ensoft Ltd as an example, the assignment illustrates how these legal instruments safeguard a company's ideas, inventions, and brand identity, ultimately contributing to market competitiveness and success.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Innovation and its Importance for organisation in comparison with invention................1
P2 Vision, leadership, culture and teamwork can shape innovation and commercialism......3
TASK 2............................................................................................................................................4
P3 Explain 4P's of innovation and use of funnel innovation..................................................4
P4 Development of Frugal innovation...................................................................................6
TASK 3............................................................................................................................................7
P5 Importance of commercial funnel and application of New product development............7
P6 Building of innovation business case including ways to access funding..........................8
TASK 4............................................................................................................................................9
P7 Different tools that an organisation can use to develop, retain and protect intellectual
property...................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation is defined as process conducted by management to improve effectiveness of
business operations so that creative and unique items are delivered in marketplace.
Administration implement modern tools and techniques in system which help firm to utilise
funds, material and manpower efficiently. Along this, modification in existing items is made by
manger which help them to attract large number of customers. Innovation helps superiors to
introduce new concepts and ideas and launch new items in marketplace (Johnston and Marshall,
2016). This help them administration to position themselves higher than rival firms. Present
report is based on Ensoft Ltd. which is software company established in United Kingdom.
Company have skilled and competent engineers so standardised software are present in system.
Cutting-edge software are provided by administration which help in keeping whole world
connected. Innovation funnel and frugal innovation concept are used by management to launch
new technologies and reduce difficulties from system.
TASK 1
P1 Innovation and its Importance for organisation in comparison with invention
Innovation is a process of implementing new and innovative ideas with in a work place
through this firm are able to achieve goals and objectives in an effective ways in limited time
period. It is a modification of existing product which increase their features and usability. It is a
small business venture that are deal with networking software and provide internet solution.
Innovation is a best application in applied science because techniques create obsolete in short
period of time and management has to analysis all changes which are implementing with in an
work place. Its create variation so that prominent update has launched by using tools and
techniques (Díaz-García, González-Moreno and Sáez-Martínez, 2015).
Firm develop software which helps to connect with potential customers. Management of
an organisation has develop strategies and plan in order to execute innovation with in firm.
Through this, enterprises are able to produce quality of product and services which enhance
clients satisfaction as well as higher markets as compare to before. If creativity can not
introduced in proper manner with in work place that create negative impact on firm performance
and productivity. There are some needs which are create responsibilities for bringing innovation
are explain as follows:
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 Innovation is a very important function which provide guideline to all employees so that
they get all information about their role and responsibilities with in work place to achieve
their targets in an effective manner.
 Firm used creativity option in order to attract large number of clients toward business
activities as well as their product and services offers at market place (Wallace, 2017).
 The main objectives of introducing innovation are to develop high quality in commodities
and services which helps to provide high profitability and market position.
 Through innovative goods firm are able to gain high competitive advantage as compare to
their competitors at market place.
Differences between innovation and invention are explain as follows:
Basis Innovation Invention
Meaning It is a process of modification
in existing product and
services which increase feature
as well as quality of
commodities in an effective
ways.
It is a process to develop
totally new product and
services that are able to full fill
clients needs and wants in
limited time period of time.
What is it For developing product,
company concerning on
adding more values rather than
to produce new one.
This process of innovation is
all about creating a new
product on the basis of
original ideas.
Skills required This process doesn't need
scientific skills. It requires
technical and strategical skills
more.
Innovate is totally based on
scientific skills of a person.
Ensoft Ltd has develop new ideas which helps to produce unique kind of software so that
their potential buyers can not switch firm to other company. Current market situations may
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rapidly change because various kind of competitors are using latest technologies to increase
profitability with in specific time period. Ensoft Ltd are analysis competitors strength and
weaknesses in order to compete them in an effective ways (Dodgson, 2018).
So that, through this all information it is concluded that innovation is a better option as
compare to their competitors with in an organisation. Because it is save money and time of
management. Creativity is a easy process as compare to invention, for example Ensoft Ltd has
provide several types of software which helps to resolve new issues and they are launch its
product upgrades on time to time basis. Management of the company develop strategies and
polices which helps to implementing innovation with in work place in a most appropriate and
successful manner. It helps to gain high market share.
P2 Vision, leadership, culture and teamwork can shape innovation and commercialism
In every organisation, executive frame mission and vision statement which define
purpose and aim to management to make system function properly and according to market
conditions. Along this, administration even specify goals and objectives to staff members which
help them to give them adequate instruction and guidance; thereby make them perform tasks
effectively. Thus, employees will work in proficient manner and timely attain targets (Bain and
Kleinknecht, 2016).
Vision: It provides a road map to a company which guide employees in what manner they
have to achieve targeted goals and objectives. Ensoft Ltd firm main motive is to accomplish
success and prosperity in specified time duration. Administration provide direction to workforce
so that business activities are conducted appropriately. By providing target and standards which
define workers to manufacture quality items and services in marketplace. This help management
to enhance market image and reputation.
Leadership: In a company, leadership plays an important role in getting cooperation of
workers and all associated person in obtaining business success. This aspect define that superiors
require to provide directions and guidance to members in respect to duties assigned to them.
Staff members will work in appropriate manner as they have adequate skills and abilities in
according to tasks assigned to them. Seminars, sessions, meeting and conference to improve
capabilities of employees; thereby motivate them and dedicated towards job. This benefit leader
to retain skilled and competent manpower for longer period.
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Culture: It is also a major concept in business where managers of a company are required
to make collaboration among workers having different culture. Management require to provide
healthy and safe working environment to members. They even require to provide challenging
working conditions such as rules, regulations and terms which require to be followed by
subordinates. Along this, superior provide targets to employees and time limit; so that they will
work efficiently and complete work within deadline (Kleinknecht, 2016).
Teamwork: In firm, manpower is divided into departments such as production, sales,
marketing and R&D in respect to their skills and knowledge. Superior responsibility is to provide
adequate guidance to members and coordinate their efforts. They even require to construct
relations with team members to acknowledge conflicts and issues faced by them, thereby provide
them adequate solutions. In Ensoft Ltd., manager has good relations with members so workers
feel dedicated and connected with company. Hence, employees will perform tasks effectively
and deliver quality items and services in marketplace.
Therefore, commercialisation is process executed by management to provide duties to
staff members and targets which require to be accomplished by them. Vision, mission, goal and
objective help administration to implement adequate technologies in system and make it function
effectively. Market survey advantage superior to acknowledge needs and wants of public,
thereby design items and services in according to taste and preference of people (DiMasi,
Grabowski and Hansen, 2016). In Ensoft Ltd., modern tools and techniques are used by manager
so quality services are provided by firm to their clients. Along this, administration conduct
training and development programs to enhance skills of employees and make them perform tasks
in innovative manner. Thus, company is able to increase customer base and market goodwill;
thereby position Ensoft Ltd. higher than rival firms.
TASK 2
P3 Explain 4P's of innovation and use of funnel innovation
Innovation is concept which is used by administration to implement latest tools and
techniques ins system; so creative and unique items and services are delivered by firms in
marketplace. This benefit management to launch novel changes in items and grab attention of
large number of people. Hence, innovation process is main goal is to introduce new concepts and
aspects in business which benefit firm to manage employees interest and enthusiasm; thereby
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make them perform tasks effectively and timely accomplish targets. Ensoft Ltd is popular firm as
customer friendly services are given by manager in according to demands of people. With help
of innovation process, latest technologies are implemented in system (Guttentag, 2015). This
benefits company to deliver quality services and fulfil requirements of clients. These are 4P's of
innovation which are used by superiors is explained beneath:
Product Innovation: This concept of innovation reflects changes that an organisation is
going to offer at marketplace in order to satisfy demand of customers. In respect to Ensoft Ltd
company, as it provides IT based solutions and upgrade system of other companies so, it needs to
make more innovation in services. It will help business clients to operate their business more
effectively.
Process Innovation: Under this step, it is major duty of managers of a company to
identify in which field modification is necessary for improvement of business. For this process,
they have to conduct market research by which innovation in products can be done in business.
Management design schedule and plan which defines time for each activity which require to be
followed by members. It is necessary that employees complete work and attain targets within
specified deadline. This help firm to deliver items and services in according to needs and wants
of customers. Ensoft Ltd company has a strong market reputation and image so, any change in
products will directly affect business. Therefore, for this purpose, by conducting proper research,
managers of this firm can make changes in business accordingly.
Press: This factor of innovation belongs to climatic condition and surrounding
environment of a company where it operates business. Thus, for creating innovation in products
or services, an enterprise requires to consider this factor also. In context with Ensoft Ltd. its
managers are required to concern environmental condition and must consider that production
process may not harm ecosystem. Along with this, they should also adopt effective technologies
in system by which wastage can be reduced and disposed in adequate manner. This type of
innovation helps in obtaining Eco-friendly products so that image of business can be enhanced.
People: Since in a company, human resource are the most precious assets who give
support to carry out business more efficiently. This factor includes all stakeholders of an
organisations whose ideas and contribution help in serving products as per requirement.
Therefore, managers of Ensoft Ltd. are required to hire most skilled employees at workplace.
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Along with this, they should conduct market research to generate idea for bringing innovation in
business.
Innovation Funnel: It is defined as activity which is conducted by organisation to
remove difficulties from system and make it function effectively. Innovation process is executed
in staff members which help them to provide quick services to customers. Along this,
management uses this concept which helps them to manufacture creative and unique items. Thus,
this activities have influence on rates of items and services; as innovative products will be prices
more, so sales of firm is effected (Moulaert, 2016).
P4 Development of Frugal innovation
Administration main duties is to utilise resources efficiently and deliver adequate items
and services in marketplace. By implementing latest tools and techniques in system so that
business operations are conducted in adequately. For this, frugal innovation is appropriate
process which is executed by manager to overcome unwanted and irrelevant components from
activities. This help company to deliver standardised items and services in market to grab
attention of large number of customers; thereby fulfil their needs and wants.
Every kind of organisation either large or small require that funds, material and
manpower are utilised appropriately. Administration should implement adequate appliances in
system and make it function in most feasible way; so that business operations are conducted in
proficient manner. This help them to make employees perform tasks effectively and complete
work within specified deadline. Thus, customers will get items and services in respect to their
requirements and demands (Love and Roper, 2015).
Ensoft Ltd. company uses frugal innovation concept which helps manager to increase
their market share and position; thereby generate adequate revenue from business. This
procedure also helps administration to attain targets and objectives in defined time period. With
help of modalities, creative and unique things are delivered in marketplace. Along this, superior
require to take support from employees and make them perform activities effectively. Modern
technologies are implemented in system of Ensoft Ltd. which help manager to provide quality
services to clients. Thus, innovation funnel helps heads to remove complexities and make system
function in proficient manner. These are steps that are followed by management to generate
positive outcomes are stated beneath:
1. Acknowledgement of methods and ideas where innovation funnel concept is used.
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2. Computing expenses that will be executed to apply ideas in enterprise.
3. Examine reports and make adequate decisions which are advantage for firm. This help
management to overcome problems and complex conditions from system.
Therefore, frugal innovation process is executed by superiors of Ensoft Ltd. which help
them to utilise resources efficiently and execute business activities appropriately. Along this,
manager deliver quality services to clients which help them to establish advantage over
competitors and make business successful (Laeven, Levine and Michalopoulos, 2015). Thus, for
developing frugal innovation in business, management of these company are required to follow
following steps: Identify improvement area: It is an initial step under which managers must identify in
which area, improvement is required. Further, they should make plan for creating
modification so that innovation can take place. Make alternative solution: After addressing problems in business, further they must
conduct a meeting with stakeholders and selected employees to made a discussion with
them about changes. It will help in getting different-different opinion and support to
resolve issues. Choose most appropriate solution: Further, after getting various alternative solutions,
managers must select the best one as per needs and wants.
 Sustainable solution: They are also required to evaluate sustainability of solutions also
i.e. whether such solution will provide long term benefits or not.
TASK 3
P5 Importance of commercial funnel and application of New product development
Commercial funnel is concept which define that administration require to use market
opportunities and expand business from domestic market to internationally. This help
organisations to increase customer base and sales. Along this, manager conducts innovation
process and implement latest tools and technologies in system. This help firm to deliver creative
and unique products in marketplace in according to needs and wants of public. Ensoft Ltd. which
is service company uses new product development and provide quality offerings to clients. These
are various phases of NPD that are followed by management are stated beneath:
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 Idea generation: It is starting step of new product development which defines that
management require to introduce new aspects and concepts, in according to market
conditions. In context with Ensoft, it needs to consider preference and taste of customers
in order to generate ideas for new product development. Idea screening: After formulation of new concept, superior responsibility is to evaluate
feasibility of ideas; that whether they are appropriate to be implemented for new product
development or not. Under this, managers of Ensoft is required to determine feasibility of
idea. Testing the concept: This stage specifies that manger require to conduct market survey to
acknowledge market conditions. Along this, they even require to have information about
system abilities and resource availability (Brunswicker and Vanhaverbeke, 2015). So,
Ensoft requires to present a sample of new service in order to get feedback of them. Analyse products and services: This step defines that superior duty is to implement latest
technologies so that innovative and creative items and services are delivered in market.
So, using this process, managers of Ensfot can determine whether such product give
profitability to business or not. Commercialisation: This process is conducted by management which help them to
timely ascertain irrelevant and inadequate components; thereby removing it from system.
Hence, superior of Ensoft will be able to execute business operations in efficient manner.
 Product launch: This is last phase of NPD which carries activities that are conducted by
management of Ensoft to introduce new items and services in marketplace.
P6 Building of innovation business case including ways to access funding
Administration launch novel changes in features and characteristics of items so that
organisation deliver products in respect to needs and wants of people. With help of innovation
tool, creative and unique things are manufactured. Manager will be able to establish competitive
advantage and position higher than rival brands. Commercialisation is appropriate tool that heads
uses to introduce new ideas and concepts. This help companies to enhance customer base and
increase sales and profitability (De Vries, Bekkersand Tummers, 2016).
Financial resource is essential component which management require to launch new
products and services in market. Ensoft Ltd. which is service firm require to implement changes
in system and implement latest tools and techniques so that quality services are delivered in
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marketplace. To execute modern technologies, administration require to have adequate funds and
material. These are various steps that are conducted by manager are stated below:
 Identification of money that is available with Ensoft Ltd. for conducting adequate
business operations in according to new ideas and concepts that are introduced by
management.
 Recognise areas which require additional funds; thereby ascertaining institutions and
devices from which money can be taken by firm.
The business case of Ensoft Ltd. is explained as beneath:
Executive Summary Ensoft Ltd. offers software or IT solutions to routers who run large
corporate networks and internet. The main focus of this company is to
Need Innovation is an important factor for Ensoft Ltd. for developing its
software. It will lead to provide high technology which runs in the core
of internet for keeping the world connected.
Solution Innovation in products like CMMS software will aid Ensoft Ltd. in
upgrading system of other companies in order to meet their future
needs.
Consumer Analysis The outcome of analysis were that clients were more satisfied with the
innovation in software technologies. The development in technology
helps them in operating business in a proactive and efficient manner.
With enhanced functionality such as CMMS system and its reporting
dashboard aids employees to perform daily routine work more
appropriately.
Creation and
Improvement
The ideas for innovation in software was developed through proper
communication with concerned clients and stakeholders.
Acquisition of funds As Ensoft Ltd. runs its business at small scale so, owners of this firm
have to raise funds from various sources like banks and financial
institutions, in exchange of security. It helps in implementing innovation
at production.
Benefits availed The benefits which can be availed by developing innovation in products
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or services helps in getting more satisfaction of customers.
Different ways to accessing funds: -
Crowdfunding – It can be defined as a practice of funding a venture by raising capital
from a large number of people who contribute a small amount in a specific project. A
crowdfunding site like Kickstarter.com consider as an effective way to raise fund. So, using this
source, employers of Ensoft Limited can get fund for implementing innovation in business.
Factoring: It is a finance method under which an enterprise can sells its receivables to
get cash at a discount. In general companies having poor credit are using this type of method for
raising funds. But it is costlier and expensive way also as if 2% fee to get funds for 30 days will
sum-up to 24% approx (an annual interest rate). Therefore, Ensoft Limited didn't use this method
for introducing capital at business.
TASK 4
P7 Different tools that an organisation can use to develop, retain and protect intellectual property
Tangible and intangible are two forms of assets which are required by business persons to
execute business operations effectively and make system function in according to market
situations. There are various laws and acts which are formulated by regulatory bodies to take
care that intellectual properties are protected. Administration prime responsibility is to get their
registration from government and certification so that business operations are conducted in legal
manner (Donate and de Pablo, 2015). These are various legislations that protect assets from
being copied and imitated by rival brands are defined below:
Copyright: This act was designed by government which is associated with books, novels
and journals. Writers, authors and novelist get registered their work, so that other individuals are
not able to copy their content. For example- It helps Ensoft Ltd. to enhance market reputation
and image.
Trademark: This law was constituted by government to secure small and big firms
essential components such as logo, name pattern, symbol, tag line and so on. Executive register
this elements so that other firms will not be able to use it until license and permission is taken by
owner. Thus, it depends upon proprietor that they want their firm name to be used by other
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organisations or not. For example- Using this right Ensoft can improve its market goodwill and
position by building brand.
Patents: This act was formed by regulatory bodies to protect machine, process,
production articles and composition of material. Companies will implement tools and techniques
in system to manufacture items and deliver adequate services to customers. For instance- This
legislation helps managers of Ensoft to protect methods and ways used by them to manufacture
items.
Thus, government framed copyright, trademark and patent to safeguard intellectual
properties. Business persons and individuals can protect their ideas and invention from being
altered and stolen by other persons. Ensoft Ltd which is service provide firm, administration uses
trademark to register company's name, symbol and logo, design and tag line. Along this, patent is
used by them to secure technologies and machines that are implemented in system. This benefit
executive to position superior than competitors and establish strong market image.
CONCLUSION
As per above report, it can be comprehended that innovation is activity which is
conducted by management to enhance customers base. By adding new and unique features and
modifying existing items to grab attention of large number of people. Along this, administration
even require to introduce new ideas and concepts so that creative and unique products are
delivered in marketplace. Innovation funnel concept is used by members to implement modern
technologies and deliver quality services to clients. Apart from this, superior uses frugal
innovation to overcome difficulties and complex situations; thereby make system function
effectively. This help company to provide adequate items and services and enhance sales and
profitability.
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REFERENCES
Books and Journals
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