Patent Strategy: Your Business Plan
Understanding the three phases of the patent lifecycle, and having an appropriate synergistic patent strategy, is essential if you are to generate revenue from you IP. As a first step, it is important to think about the relationship between patents, and IP in general, and your business plan.
It is easy to think of patents in isolation – a box-ticking exercise, perhaps to keep Directors or investors happy. However, doing so greatly reduces the likelihood of generating revenue from patents and potentially exposes your company to unnecessary risk from a competitor’s IP. Instead, IP, and in particular patents, should form an integral part of your company’s commercial strategy.
Source: LinkedIn Corporation