IP Strategy sets out the purpose for protecting innovation in the first place -- how will the organization use the resulting IP rights to positively impact the business.
An IP Strategy must align with the priorities of the business and the direction of its products, technology, and patent portfolio. The strategy will dictate the programs needed to develop and manage the patent portfolio, to defend the IP position of the business, and to monetize valuable IP assets. An informed innovation strategy should take into account the current state of the organization’s patent portfolio as well as competitive IP positions.
Conventional wisdom holds that only 5% or less of a company’s patents truly drive value within the organization. A company looking to improve its patent position is faced with two alternatives: increase the number of patent filings; or grow the percentage of patents generating value. A Holistic IP Lifecycle approach favors the latter option.
In the evolution towards higher-quality IP, TechInsights recommends establishing a baseline of the current state of your patent portfolio as the first step. This involves developing a taxonomy or framework for sorting the portfolio into relevant technology and market categories, then providing the context for the patents in those areas with respect to competitors.
TechInsights and our specialized IP Portfolio Management software, PatentVista Enterprise, can help structure and analyze your patent portfolio, to: identify strengths and weaknesses within the portfolio, locate assets for enforcement or divestiture, provide guidance to invention selection or patent acquisition programs, and ensure alignment of the portfolio with your IP and business strategy.
A well informed patent strategy considers competitive positioning in terms of technical innovation and third party patent holdings. A patent landscape provides this insight in specific areas of technology focus. This involves identifying patents in a particular field and mapping out the ownership of that field in comparison to one’s own position.
A patent landscape can impact patent strategy in a number of areas:
TechInsights has a blend of technology and patent experience that lends itself to a unique perspective on patent landscape activity. Let us identify the patents and applications of interest and provide commentary on associated trends and potential business impact.
"Competing on your IP in the electronics industry" -- Licensing in the Boardroom 2006, A supplement to Intellectual Asset Management (IAM) magazine