Water Corporation

John and Mary have been working with Water Corporation for two years. In that time they have developed an app that uses inputs from devices (IoT internet of things) installed in pools to identify chemicals needed for the pools. The app can trigger messages about chemicals needed to ensure pool acidity and cleanliness. The app also handles appointments and scheduling for delivery and for repairs and manages inventory and ordering. The app allows the individually managed Water Corporate franchise stores to differentiate themselves from the competition.

At this stage John and Marys contract is almost up and at the Head office the son (Jerry) of the owner has been looking at the innovation developed by John and Mary. John and Mary each make $200,000 per year as computer developers. Jerry was thinking of white labeling the app to sell to other pool companies.

Jerry knows you took a Finance for Entrepreneurs subject and has come to you to ask you for some help.

Part One and Two relate to Water Corporation

Part 2 Application of IP to a new industry (13%)

Jerry has asked you to develop a strategy including a financial plan to use the same app but in a different industry. This new app will need to utilise the intellectual property to be successful. First, identify the parts of the app that are specific intellectual property or features that may be important in other industries. Second, be creative in identifying where the app may be applied. Ensure you identify at least 5 industries/businesses where the app may be applied. Third, identify any competitors that already exist for your proposed industries/businesses.