Patent Portfolio Management
IP/ Patent Portfolio Management forms a critical process and relies on dynamic portfolio development, mapping, and review process. Fundamental to IP/ Patent Portfolio Management is ‘knowledge’. Knowledge of both internal factors such as technical area(s) covered, business implications, product development and/or R&D pipeline, patent family, etc., and external factors such as current status, competitive and market scenarios, etc.
Akin to a manicured garden, effective IP/ Patent Portfolio Management requires allowing certain areas to grow naturally while certain other areas require well-defined pruning. Effective analysis and management of an organization’s IP/ Patent Portfolio can therefore unlock business opportunities as well as reduce cost burden, and therefore attempts to strike a balance between risks and rewards.
Source: Global Patent Filing