You have theoretical evidence that a molecule derived from man-of-war jellyfish

Question

You have theoretical evidence that a molecule derived from man-of-war jellyfish venom may have properties to lyse blood clots in humans better than the currently available medication tissue plasminogen activator (it is thought to work faster and have less risk of bleeding). It must be delivered intravenously.   You are interested in commercializing this product.

A)Please list the steps you would need to take to successfully bring this product to market.

B)Please create a trademark for this product.

Explanation / Answer

Ans. In order to commercialize such products there is a need for a well defined and strategically sound planning. The most commonly encountered hurdles while launching such products would be

1) Whether the new therapy is novel?

2) Would the market give a good return on its advent in the market?

The following steps should be taken while commercializing such products:

a) Look for measures for pursuing such ideas because having a revolutionary idea without proper measures would result in improper fundings and grants.

b) Having a detailed study and as it is evident from the question it posses an upper edge over numerous other treatements leading to it becoming a fast mover.

c) Partnering someone or looking out for collaborators as it would be difficult to carry out the entire task solely by oneself or single organisation.

d) Getting idea patented.

e) Making a move yo seroius research and development and harnessing the available resources.

f) Keeping an eye on numerous funding sources.

g) Channeling the networks inorder to commercialize the products.

Ans B. Timing a trademark is the key for the above said products. Utmost care must be taken in order to ensure that the name selected should meet the standards laid down by the patenting body. Drug mark should be such that it doesnt create a confusion in the minds of the consumers. A 30 day window would be alloted for studying the product and checking it out whether there is any product already available in the market. Hence prior patenting a deep thorough study is required. Documental evidence concerning the research efforts, clinical trial efforts, efforts for seeking approval from regulatory body and efforts to bring product to market should be maintained.

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