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From 2012e.igem.org

Stakeholder Analysis

Stakeholder analysis is a plan of action that takes into account the individuals and elements affected by the project, the impact of the project, and the impact those individuals have upon the impact of the project. This analysis is done to facilitate communication during a transitionary state of any organization.

Milestones and Fundamental Steps

• Ideally, a milestone would be a comprehensive adoption of CFCorporations in the legal sphere. There are smaller scale versions currently being adopted in California called B-Corporations (Benefit Corporations) that utilize a similar function.
• The first step is to develop the potential venture as a project possibility. This is done through several procedures.
  • Drafts of ideas and potential projects
  • Assembly of project team
  • Development and Production of Comprehensive Business Plan
• The second step is to establish the project as a legal entity. Depending on the state there may be few or several steps required for recognition. The milestones are still the same.
  • Legal paperwork filing with State Corporate Commissions Board for company titles
  • Submittal of any pending intellectual property or patents
• Third step is to establish a formal legal partnership
  • Consultation (if there is no full time lawyer) on legal matters
  • File paperwork with respective State Corporate Commission unless project expands beyond U.S.
• Fourth step is project launch
  • Applications for grants and suiting potential investors
  • Establish a base of operations for all research and development
  • Assemble relevant teams for market entry and use
• Fifth is clinical trials and government regulation
  • All biotechnology companies are required to submit their commercial products for FDA testing and regulation—if approved, the project is allowed to move on
  • Clinical trials must be conducted to examine short and long term effects of the product on both individuals and society
• Sixth is market entry
  • Product must be designed to be intuitive to use, have strong aesthetic design, and must also be appealing to the public
  • Product is then used for social application
  • Outcome of product application is then returned to the for-profit company for commercialization.
• Seventh is return of investment from established revenue streams.