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Continuous development
Recipe for success No 9
Be involved in the product's concept design stage (eg how a new fastening
can allow a smaller or cheaper product). This can bring 18 months of innovation
leadership benefits. That is, the company can be ahead of its competitors
for a full eighteen months. And by the time they catch up, TR will expect
to be further ahead still! Achieve sole or joint patent (with contract
manufacturer and/or OEM) and license to other manufacturers. Income from
ideas - being used by competing companies (but not until it suits your
company!) is a further way to ensure income from your company's ideas,
beyond using the ideas yourself.
This is where TR are now (early 2001). They didn't expect this as little
as a year ago. And who knows what changes will take place in their business
sector in the next few years?
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