Invention, Intellectual Property, and Income
This week we have an individual assignment
The individual assignment is to develop a plan for dissemination of my final project and to prepare drafts of my summary slide, video clip
The goal for this week is to build a plan for the final project which in my case is BABY MONITORING SYSTEMand to do that i have to learn and read about licensing and how to commercialize a product .
I have to develop a plan for the dissimation of the final product and have to understand the rules for protecting my project through Intellectual property laws.
Intellectual Property
Intellectual property which is knows as (IP) is a category of property that includes intangible
creations of the human intellect.
There are many types of intellectual property, and some countries recognize more than others, the most well-known
types are copyrights, patents, trademarks, and trade secrets. source: wikipedia
To achieve this, the law gives people and businesses property rights to the information and intellectual goods they create, usually for a limited period of time, this gives economic incentive for their creation, because it allows people to profit from the information and intellectual goods they create.
CREATIVE COMMONS
A Creative Commons which is known as (CC) license is one of several public copyright licenses that enable the free distribution of an otherwise copyrighted “work”.
A CC license is used when an author wants to give other people the right to share, use, and build upon a work that they (the author) have created.
CC provides an author flexibility (for example, they might choose to allow only non-commercial uses of a given work) and protects the people who use or redistribute an author’s
work from concerns of copyright infringement as long as they abide by the conditions that are specified in the license by which the author distributes the work. wikipedia
There are several types of Creative Commons licenses, the licenses differ by several combinations that condition the terms of distribution.
What Creative Commons license do ?¶
The Creative Commons copyright licenses and tools forge a balance inside the traditional “all rights reserved” setting that copyright law creates.
Creative Commons tools give everyone from individual creators to large companies and institutions a simple, standardized way to
grant copyright permissions to their creative work.
The combination of their tools and their users is a vast and growing digital commons,
a pool of content that can be copied, distributed, edited, remixed, and built upon, all within the boundaries of copyright law.
Types of Licenses
1. Attribution CC BY 
This license lets others distribute, remix, adapt, and build upon my work, even commercially, as long as they credit me for the original creation.
This is the most accommodating of licenses offered, Recommended for maximum dissemination and use of licensed materials.
2. ATTRIBUTION-SHAREALIKE CC BY-SA 
This license lets others remix, adapt, and build upon my work even for commercial purposes, as long as they credit me and license their new creations under the identical terms.
This license is often compared to “copyleft” free and open source software licenses.
All new works based on my will carry the same license, so any derivatives will also allow commercial use.
This is the license used by Wikipedia, and is recommended for materials that would benefit from incorporating content from Wikipedia and similarly licensed projects.
3. ATTRIBUTION-NODERIVS CC BY-ND 
This license lets others reuse the work for any purpose, including commercially; however, it cannot be shared with others in adapted form, and credit must be provided to me.
4.ATTRIBUTION-NONCOMMERCIAL CC BY-NC 
This license lets others remix, adapt, and build upon my work non-commercially, and although their new works must also acknowledge me and be non-commercial, they don’t have to license their derivative works on the same terms.
5.ATTRIBUTION-NONCOMMERCIAL-SHAREALIKE CC BY-NC-SA 
This license lets others remix, adapt, and build upon my work non-commercially, as long as they credit me and license their new creations under the identical terms.
6. ATTRIBUTION-NONCOMMERCIAL-NODERIVS CC BY-NC-ND
This license is the most restrictive of our six main licenses, only allowing others to download my works and share them with others as long as they credit me, but they can’t change them in any way or use them commercially.
My License
I have chosen the license of Sharealike because my design is not that unique and i would like others also to do some modifications to it but they will ahve to give me the credit for whatever changes they do in the work and they also have to keep the licensing terms same as mine so any deriavtive will also allow commercial use.
I used this link for choosing the Creative Commons License.
It asks for the information and condition about the license terms you want to include wth your work
Future Possibilities and Income
Baby Monitoring system is the requirement of everyhousehold. As the standard of living of the people will improve, they will spend much on these services.
So i am very optimistic that this product can be a succesful business proposition.
The Input Cost involved is about Rs 6000 and It can be easily sold at Rs 10000. When there is mass production then the input cost involved will be lesser and the profit component
will be higher. Such kind of BMS are availaible in the market but the one i am designing have all the necessary equipments at one place.
Business Model/ Dissemination plan
Key Partners
For the business to start, i need to make some partners which may bring the investment required. I have knowledge of various government schemes which can also provide me some amount to start the business. The most important stake holders for this business will be the customers (Parents) as they will provide the required feedback for the product to improve in the future and the reuired sell as well.
So the key stake holders or partners will be the customers and the investors.
Key activities
The key activities which our organisation will be doing on the daily basis is to improve the design, the user experience and the marketing part for the Baby Monitoring system. Because the amrketing part will make the people realsie of such a nice product. The awareness amongst the required group about the benfits of the current product will be very crucial for the success of the product. I can crate the awareness by making the Hospitals as the partner as they are the ones who have the data fof the new born babies and we can market our product at the source itself. I can also market our product by conventional means, for example ads in newspaper and digfital marketing etc.
Value Proposition
The value of the system which we are providing is immense as the parents go out for work and if there is any system which can help them to monitor their child will be very relaxing for them. we can proise our customers that it can make their life confortable and they need not be concerned about their baby when they are out.
Customer Relationship
The customer wants us to be always availaible to them whenever they reqiuire any kind of help. For that we will need to expand the customer service base by collabrating with small vendors.
Customer Segment
As the value of the electronic components are coming down and with so many start up schemes by Govt.of India, we can generate the product at a very minimal rate to a higher version of the BMS as well as so that every segment of the customer base is benefitted.
The most important customers for us are newly married couples and the parents of a new born baby be it the middle class or the higher class.
Distribution Channel
I would like to sell the BMS online and offline as well. Selling online would be a bit cheaper as most of the costs such as inventory costs and handlong costs which generally occurs in a showrrom are eliminated. I also intend to seel the product offline as well with the hlep of showrroms in the cities.
Cost structure
The cost involved per BMS will be around Rs 5000/- to Rs6000/- and it will decraese if i start to manufacture it on a big scale. The expensive item involves the camera and the wifi module which in the future i will try to integarte and come out with a better lectronics version of it. I can scale up the production once it starts to sell in the market. In india, this is the best time where the
Revenue Stream
The BMS available in the market is around Rs 10000/- to Rs 15000/- and they still have very less features compared to my design. so i can sell my product with good features at a lesser cost.
Since the customer base is very broad so i can expect the revenues coming from both by online mode and as well as in Cash.
License
The license i have chosen is ATTRIBUTION-SHAREALIKE CC BY-SA which lets others remix, adapt, and build upon my work even for commercial purposes, as long as they credit me and license their new creations under the identical terms. This license is often compared to “copyleft” free and open source software licenses.
My Draft Slide
