As part of our Patents practice, we provide patent portfolio management services.
Patent Portfolio Management
Effective patent portfolio management can be key to leveraging inventions to bring value to a business. Our patent attorneys provide patent portfolio management counseling from invention inception to enforcement of patent rights.
Developing a Patent Portfolio
Patents are costly. So, developing a patent portfolio should include advice from experienced patent attorneys with understanding of your business strategy. Your decision to start a patent portfolio should be clear and in line with business goals as well as budget requirements. Our patent attorneys advise on patent portfolio management strategies that align with your business needs.
The Key to Successful Patent Portfolio Management
Understand what you have. It may seem obvious, however, not all companies clearly understand what they have and what it is worth. Starting with a diligence review of a patent portfolio is important to identify issues as well as opportunities. Considerations in patent portfolio management include:
· What patents can you expand or evolve?
· What can you cut that is no longer needed?
· Which patents will become obsolete?
· What’s of most value?
· What drives your business and aligns with goals?
· Monetizing: licensing, sale, and patent litigation
· Maintaining a competitive edge: where is the market headed?
· Patents for protection versus defensively held patents
· Patent enforcement and litigation
Patent Portfolio Management for Leveraging Business
Often, companies invest in patent portfolios as leverage. Strategic patent filings can give companies a competitive edge over others in the same market. Additionally, patent rights could boost a small company as a major competitor in a large market. Therefore, patent portfolio strategy is crucial to business success. We offer strategic patent management, as well as related business planning and overall IP strategy counseling.
Our patent portfolio management counseling assists you in making patent filing and maintenance decisions that bring true value to a business. We advise clients on how best to develop and maintain effective patent portfolios.