A company’s business concept is about the direction and form of its operations. If it is apparent to you that the company’s success lies in its intangible assets, think carefully about protecting them at an early stage.
A business concept is a fundamental prerequisite for the existence of a company. It does not have to be unique in order for the company to be successful. Through franchising, for example, you can use an existing business concept and establish it in a new market.
Describe your business concept in a written document. This is a good idea and ensures that you and other people know what your company should focus on. Give an account of:
- the market your company is aiming at
- the needs that your company will meet through its products or services
- the company’s strengths and unique expertise.
You therefore do not need to have decided exactly what, how and to whom you intend to sell and what is unique about your particular company. It can be a good idea to split your business concept into an external and an internal business concept.
External business concept
Customers: Who is your company aimed at? What needs does this group have which this company can satisfy?
Product, goods or service: What will the company sell? How does the product meet the customer’s needs?
Internal business concept
Method: How will the company be organised? What processes will be established, e.g. in order to manage intangible assets?
Competition: In what way will the company assert itself with respect to competitors in the same industry, or associated industries? How will the company’s intangible assets be safeguarded with respect to competitors?
Protecting intangible assets
In order to benefit from the company’s intangible assets, you must first identify them. You can do this via Test your business. At the end of the test, you will find out more about where to get advice and financial support. Examples of intangible assets are:
- the name and logotypes for the company, a product or service
- design and appearance, text, photo, music, film, computer software, computer games and apps
- business concepts, business models, internal manuals, manufacturing processes and working methods
- customer registers, company databases
- inhouse-developed technology
- research results and the results of development work
- certifications, collaboration agreements and goodwill
Test your business
In the test, we will help you identify your intangible assets: