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We have all had them, those great inspirational ideas that wake us up in the middle of the night wanting to come alive and make us money. Many of these ideas even look good later in the light of day. Unfortunately, all too often as the days and weeks mov

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

e on, the idea becomes lost in the daily grind. What could have been a profitable thought is all too soon forgotten because it wasn't acted upon. Do not let that happen to you again!

Ideas that come to us in the night as we sleep are frequently some of

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

he best because they have been conjured up by our subconscious mind while our conscious mind takes a rest. These are the creative ideas that have been rolling around in your head waiting to be discovered when you slow down. The difference between success

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

and failure is simply acting on the ideas you believe to be the most relevant in the current climate and that offer potential reward.

Here are three steps to follow to make the most of your idea.

1. Protect it.

Protection for your idea will

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

generally fall under one of four categories: patents, trade secrets, trademarks and copyrights.

Some of the protection for your idea can be accomplished easily by yourself such as copyrighting an article, like this one. A copyright does not protect the

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

dea, but it does protect the manner in which the idea is expressed. These expressions may be in the form of writing, music, art, computer programs, photographs and other tangible forms of artistic expression.

Trademark law protects your right to exclusi

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

vely use a name, logo or slogan that identifies and distinguishes the origin of your idea. This concept extends to the “trade dress” of the idea, which means its appearance, and how the idea you have, ultimately becomes packaged or configured.

Trade sec

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ets are the information used in the implementation of your idea, which gives you an advantage over your competition. The key to this protection is that you must treat the information with secrecy. If you make a public disclosure of the information, then

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

others will be free to use it.

Patents are the intellectual property right that protects inventions. For all practical purposes, and outside the field of botany, patents fall into two basic categories. On the most basic level, design patents protect how

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

the invention looks and utility patents protect how the invention works. Patents are the most complicated protective device to secure, but they offer strong protection once you are awarded them.

2. Market Your Idea.

Great ideas are plentiful, but

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

getting the idea to market and making money with it is what separates the casual inventor from the profitable entrepreneur.

Marketing your idea takes two basic roads. You can do it yourself or you can license someone else to do it for you. Which road yo

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

u should take depends on your own skill set and the amount of money required to get the product to market. If you have neither the skill set to market nor the money to do it, then you should consider licensing your idea or product to someone who does.

A

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

license is the grant of rights for your idea/invention to someone who is willing to spend the time and money to market it for you. As you might imagine, there are big companies that license products and there are entrepreneurs who make their living licen

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

sing ideas of others. This classic paring of two different skill sets (creating and marketing) has resulted in many successful projects. In some cases, the inventor takes a royalty for his ideas and does nothing but collect checks in the future. In other

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

situations, the inventor remains involved in the projects. The combinations of how to structure license agreements are seemingly endless, and the answer as to which is best for you is determined by what you and the person who gets your license (licensee)

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

are able to agree to.

A well-structured license agreement can be extremely profitable for both licensor and licensee and is big business today in everything from character licensing to sports licensing of naming rights and apparel. Licensing is a terrif

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ic way to make passive income for the rest of your life and offers true rewards for the creative person with a great idea.

3. Enforce Your Rights.

While enforcing your rights is not as exciting as the thought of creating or marketing a hot idea, do

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

not forget that you will have to be vigilant and enforce your rights to keep them.

Music and movie piracy are only two of the more-common forms of intellectual property theft that is all too prevalent in our culture, especially overseas. Anytime there i

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

s big money to be made in something, there will be others ready to take what is yours. While this means you may have to one day spend money to enforce your intellectual property rights to protect your ideas, that is not a reason to miss out on the opport

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

nity to gain from your ideas. A considerable body of law has developed in the area of intellectual property rights and protection and the creator who has exercised care in legally protecting his rights should feel comfort that his rights will be enforced

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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We got hit with a payroll check fraud scheme last month. What happened and what we did.

When considering the computer resources available in today's workplace, management has a daunting task ahead of them. They have to determine the best method to protect one of their most valuable resources... the ability to communicate via their network. Whether they are sending an email or updating the companies website, more and more organizations are relying heavily on it's companies infrastructure. Writing clear company policies and choosing the right monitoring software is a step in the right direction to ensuring the line of communication remain open.

Here is the dilemma for modern marketers. There are already more products available than the consumer wants or needs. And the consumer has less time available to research products for themselves and, even if they did, they ignore your advertising messages anyway. Today marketing is not about meeting the needs of customers in our over-saturated market smart marketers realise it's all about beating your competitor.

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