How to Get Real Value From Your IP Advisor

Most businesses and inventors meet early on with their intellectual property (IP) advisor to discuss protecting their idea. But the real opportunity lies in using that time to initiate and strengthen IP strategy, develop a plan to attract investment, and to crystalise their competitive edge. When you approach your meeting with your IP advisor as a business discussion rather than a legal one, the outcome changes completely.

Prepare with Purpose

The best IP meetings start long before you sit down. Preparation is not about technical detail, it is about clear thinking and direction.

Ask yourself a few simple questions:

What problem does my idea or brand solve?
Who is my market and customer, and why should they care?
How will it make money – through sales, partnerships, or licensing?
Where am I right now – idea, prototype, or ready to launch?
What do I want to achieve next, and what does success look like later?
What do I need to achieve success?

These may sound simple, but few businesses can answer them clearly. When you can explain your innovation in plain commercial terms, your IP advisor can help you protect what matters most rather than everything in sight.

You don’t need all the answers, but you should be prepared to know where you’re heading and ideally how you’ll get there.

Share What Matters

You don’t need to bring your entire business plan but it is a more productive meeting if you prepare and bring the right information so your IP advisor can provide meaningful advice.

When meeting with you IP advisor it is helpful to come prepared with:

A short, plain-English description of your idea or brand, as well as any drawings/photos.
A simple overview of how you plan to reach customers.
Competitors or similar offerings you’ve come across.
A sense of budget, timing, and resources.
Any other innovations you may have, even if they are at the very early stage.

This context helps your IP advisor spend more time helping you shape a strategy and less time gathering background information. Don’t worry if your materials aren’t polished, IP advisors don’t need a rehearsed pitch deck. A rough sketch or early brand outline can be just as useful at this early stage than a glossy presentation.

Start with Strategy

Once you’ve set the scene, move from “what” to “why.” Why does this idea matter? Why now? Why you? These are the questions that turn a technical chat into a business strategy conversation.

Ask your advisor:

What’s the smartest way to protect this, not just the quickest?
How can IP strengthen our investor story or go-to-market plan?
What are the risks if we delay or disclose too soon?
Could this open partnerships, licensing, or international growth?

A good IP advisor will help you make sense of timing, costs, and trade-offs. Think of them as a guide through a maze, not a guard at the gate.

Spend Smart, Not Big

Protecting IP is an investment, not a formality. Like any investment, timing and focus matters. Filing everywhere might look ambitious, but it’s rarely efficient.

Discuss with your IP advisor how to align your IP strategy with business growth.

Do we need global coverage, or just our key markets?
How long will this product or brand stay relevant?
Can we stage protection based on funding or traction?

You can think of IP protection like a ladder. Each step you take should match your stage of growth. There’s no point paying for the top rung before you’ve climbed the first few. A good IP advisor will help you avoid overcommitting early and make sure every dollar works toward something tangible.

Know How IP Builds Value

It’s easy to see IP as a form of insurance, but that’s only half the story. It is now commonplace for IP owners to treat IP as an asset that builds value in their business, brand, and investor conversations.

Before your meeting, think about how your innovation creates advantage. Maybe it allows exclusivity, raises your pricing power, or gives confidence to investors. Then ask how protection can make that advantage stronger.

For example:

Can IP protection make us more attractive to investors?
Could we license our innovation later?
How should our IP protection align with our launch or funding round?

The goal isn’t to collect IP rights, it’s to build leverage. When IP is treated as a commercial tool rather than a cost, it becomes part of your growth story and can be leveraged for benefit.

Expect Honest Questions

A good IP advisor won’t just tell you what you want to hear. They’ll test your assumptions and sometimes challenge your plans. That’s their job.

They might ask whether your idea is genuinely new, if your timing makes sense, or whether another form of protection would work better. These moments can feel uncomfortable at times, but a rigorous discussion at this time can identify issues you may not have considered. It’s far better to face challenges in your IP advisor’s office than in front of investors. You should leave your meeting with a stronger idea, a clearer story, and fewer surprises down the line.

Keep the Momentum

After the meeting, don’t let it fade into notes and good intentions. Summarise key actions, assign responsibilities, and follow through quickly. Your IP advisor can only move as fast as you do. Send any requested information or approvals without delay. Momentum builds when both sides stay engaged.

Make IP Part of Business Thinking

IP shouldn’t sit in a legal silo. It belongs in the same conversations as product development, branding, and growth planning.

When you bring business context such as “we’re launching in six months” or “we plan to expand into Singapore next year”, your IP advisor can tailor advice that fits your commercial reality.

When IP becomes part of your regular business thinking, it stops being a safety net and starts being a lever for growth. It helps you protect your edge, attract the right partners, and build visible long-term value.

One Meeting, Many Outcomes

A single meeting with an IP advisor can do much more than protect your idea. It can sharpen your strategy, clarify your decisions, and open new commercial opportunities, if you prepare properly.

Before you meet, ask yourself:

What story am I telling about my idea?
What decisions do I need to make?
How can IP help me grow smarter?

Approach your meeting as a business conversation, not a legal formality. The result might just be the moment your idea starts to grow into something much bigger.

Get In Touch

Should you wish to meet with one our IP Specialists please email Julia Hogan (julia.hogan@wrays.com.au) who would be happy to match you with an IP expert in your technology or industry.