When setting up a new company, there are a number of pressing
issues to be addressed. First and foremost, there is the critical
issue of raising capital. In addition, substantial time and energy
needs to be invested in developing a sound business plan, deciding
how a particular product or service will get to market, finding a
suitable business premises, recruiting reliable staff –
the "to do" list goes on and on.
Dealing with all of these matters is extremely important. But it
is also crucial for any start-up to take a step back and to
determine where the true value of its business lies, or will
ultimately lie. For example, in the case of a product or service
that will be distinctively branded and marketed, the trade mark or
service mark has the potential to become extremely valuable. If a
particular piece of technology has been developed, and if revenue
will be generated by licensing that technology to end users,
consideration needs to be given to the manner in which
