IP Platforms
Electronic devices are comprised of various components. The expectations of users in all markets are increasing. Increased product features, while simultaneously providing more intuitive user interfaces, are now commonplace. As products become more advanced, there are more “soft” components in them as well. This lead to two classic questions:
Question 1: “What is our core competency / value add?”
Question 2: “Build or Buy?”
Answering ‘Question 1’:
Lab X Technologies is an expert in connectivity. Our core competency is connectivity itself. As such, we’ve spent multiple man-years developing connectivity IP solutions. This IP (Intellectual Property – not to be confused with the networking term ‘IP’ – Internet Protocol) allows our clients to focus on their core competencies, and provide unique, new products to the market faster. Since you are reading this page, we assume your company’s core competency and value are not connectivity itself, but is being the manufacturer of products which can benefit and provide increased differentiation by utilizing connectivity.
So by this point, you’ve answered ‘Question 1’…
Answering ‘Question 2’:
“Build or Buy?” The value of utilizing Lab X IP is very simple: Licensing Lab X IP saves you time and development dollars, and gets your products to market faster.
Lab X IP is simply has very good financial ROI.
Could your ace engineering team build similar functionality from the ground up? The answer is somewhere between “Yes” and “Probably.” But utilizing that internal talent on your unique offerings (identified in the answer to Question 1) is a better, more profitable use of resources.
Why reinvent the wheel? Time is money. Let Lab X enable our ability to differentiate and add value, quicker!
To the Engineers / Technical Leads Reading This
Lab X is a company of engineers. We are one you. We understand the engineering nature of NIH (Not Invented Here), and the burning desire to DIY (Do It Yourself). But the simple truth is that we as engineers have to look at the bigger picture and realize the really cool things we do are our products – not the pieces / parts inside of them.
As engineers, we take pride in the art of creation. When the world needs a product, it’s the job of we engineers to create it ex nihilo. Well, not entirely out of nothing – Working on higher level concepts enabled by components (including Lab X IP), allows you to direct your creativity and talents on real value adds. That will be very satisfying to you, and higher value to your management (always a good thing too).