Blue Ocean is a marketing theory published in 2005 by W. Chan Kim and Renée Mauborgne. It focuses on the principle that to succeed, companies need to stop competing for the same spaces as others—“red oceans”—and move to areas where they can develop independently—“blue oceans”.
Although this principle was created to work as a company-wide strategy, it can be applied specifically to intellectual property (IP). Most companies want to avoid highly saturated or disputed areas of IP, and would rather expand into white spaces where they are the only contender. That’s exactly what Blue Ocean is about.
Looking at the curve of innovation, we often find that when one technology is coming to the end of its adoption cycle, other technologies based on its foundations spring forth. Peter Cohen speaks about the adoption of smart home meters and its vital role in the emerging field of Internet of Things (IoT).
Peter will also take you through practical steps on how to incorporate Blue Ocean into your IP strategy and share some examples of companies that have done so.