chapter  14
18 Pages

Biobusiness and intellectual property rights

One of the rst steps taken by any biotechnology company is to make a feasible and viable business plan. A business plan is basically a formal statement of business goals, the reasons why they are thought realizable, and the plan for making those goals succeed. The business plan also contains background information about the organization or business experts who make an attempt to reach those goals. The outcome of the business plans mainly helps biotechnology companies to make a conscious decision to start or not to start new product development. Though there is no permanent content for a business plan, the content and format of the business plan are generally determined by the goals and product demands. In brief, a business plan mainly consists of the vision and strategy of the company about marketing, nance, operations, human resources, as well as a legal plan. A business plan also helps the organization to rethink about various strategies

based on past mistakes and past marketing aws. In case the company wants to get a nancal loan from banks, one of the major criteria for banks to give the loan is to know about the business plan; the better the business plan, the greater the chances of getting the loan sanctioned. In the same way, venture investment agencies would also know the business plan before investing in the company. In addition, preparing a business plan also creates knowledge for many different business disciplines such as nance, human resource, intellectual property rights, marketing, and operations issues. Business plans include an executive report, business description, business environment analysis, industry background, competitor background analysis, market research analysis, marketing plan, operations plan, and nancial plan. We have briey described the various components of business plans in this section.