Question

What are the reasons why many Medical company fail? What steps could have been taken to prevent its demise? How can the Intellectual Property be used to resurrect medical technology? (Please discuss in details)

Answer 1

Medical company fails due

1. financial system - Due to no proper bills , increased tax burden and insufficient revenue.

2. qualitative vs quantitantive approach - Customers have better alternatives (in terms of quality) and increased competition makes company focus on quantity rather than quality.

3. legal - Due to strict rules and regulations , standards set by govt many companies fail to set them.

The improvement in company vision , its management , its revenue and costs structure delaing with competition and legal framework can prevent its demise.

Intellectual property provides the extra benefit of invention and innovation , leading to increased returns to commit such tasks. For eg - IP can restore medical technology as it will provide financial benefit secured by patents which will be bring more minds and talents in resources ,leading to better and safer medical technology.