You can’t do everything all by yourself, especially when it comes to formulating a new product. You’ll need to weigh your options and choose the right partner – one that you can trust and rely on to help you develop a product that meets your specifications. Oftentimes, a contract lab is the right choice – and the key to a successful project. If you’re evaluating a contract lab, you’ll want to consider:
Intellectual Property Ownership
Who will own the intellectual property (IP)? This is a question you’ll want to ask your contract lab. Structure the contract so the transfer, assignment, and ownership of IP is clearly defined. If you think the product will be unique enough to patent, talk through that process with your contract lab as well. If you don’t have a patent attorney, the contract lab will likely be able to provide you with a referral.
Product Development Experience & Expertise
You’ll want to do your homework to understand who will be working on your project. Does the lab you’re considering have one single scientist working on developing your product, or will a team of scientists be allocated to your project? When a team of scientists comes together to develop a product, you’ll benefit from:
- Varied educational backgrounds
- Experience working in diverse industries
- Years of experience developing products
Want to know more about our team of product development experts? Contact us.
Communication is Key
Will you have a primary, single point of contact throughout the duration of your project? Even though there should be several experts working on developing your product, you should have a single point of contact throughout the product engineering process.
Has your success criteria been well-documented and agreed upon at each stage of the project? It’s vital that you and your partner make sure you’ve defined what success looks like. We’ve found that defining success criteria for each stage of the product development process is a best practice. It’s easy to get caught up “tweaking” a product, so you’ll also need to establish a clear definition of what “complete” is.
Picking the right partner to help develop your product can be overwhelming for anyone who isn’t familiar with the process. Taking the time to define and understand your needs and research potential contract labs is fundamental to your success. Are you ready to start the conversation? Get in touch with us.
An FTE (Full Time Equivalent) partnership is often ideal for product development and/or innovation. Our blog, No In-House Lab? No Problem – Consider an FTE, offers some information about the benefits of FTE partnerships.
Looking to regain control of your product or formulation? Our blog, Regain Control of Your Formulation with Deformulation, offers insight into a solution.
We explore the type of environment that fosters innovative thinking and successful innovation and formulation/product development in our blog, The Key to Successful Product Development & Innovation.
Our featured blogger is Katie Morgan, Avomeen’s Senior Director of Marketing and Business Development. She has over a decade of experience establishing and implementing client development strategies, and her broad range of experience includes strategic contract development and marketing and content development.
Learn more about our Katie’s expertise and experience.