Preserve Potential and Reduce Risk For investigators and researchers with an idea for a novel medical device, the importance of protecting that idea—the intellectual property (IP)—is paramount. In fact, it’s one of the first considerations that translational researchers must address. IP protection is a crucial aspect of business strategy from the initial concept and early R&D because any gaps in protection will equal a gap in valuation. To attract investors, strategics, and partners, researchers must show that they have a well-rounded IP portfolio, creating potential to monetize on their innovation while also withstanding competitive challenges.