In this section you can describe the technology involved in production, processing, manufacturing or other aspect of the business. Use the points below to help you prepare this section.
1. State of the Current Art
- Describe how the industry creates similar products today
- Describe the evolution of technology trends (eg, speed of developments, rate of change adoption, expected future developments, etc.)
2. Unique Technology to be Used
- What is the status of the proposed technology – idea stage, development stage, prototype, proven. How was the proposed technology procured?
- How does it offer unique value and what is that value?
- Has it been applied successfully elsewhere? What are its challenges?
- When using the technology, what are the ramifications to other aspects of the company’s operations?
3. Suitability of Production Technology
- Determine the reliability and competitiveness of the technology (proven or unproven, state-of-the-art, etc.).
- Outline how you chose your technology providers.
- Describe limitations or constraints of the technology.
- Identify any performance agreement you have in place.
4. Proprietary Protection/Rights/Claims
- Describe any existing patents or patent applications.
- Describe any copywrights, trademarks, non-complete agreements or other aspects of intellectual property.
- Describe any rights (e.g. licenses) to use technology exclusively or on preferred terms.
- If no proprietary rights exist, how long will the technology offer unique marketplace value before being adopted by others?
- Describe other emerging technologies that may compete with or displace the technology to be used, and the expected time-frame for introduction of those technologies.
- Be careful not to disclose any trade secrets or other confidential information.
More information is available on Intellectual Property.