A Strategic Approach to Managing Intellectual Property
Patent portfolio management allows you to capitalise on your innovations by creating a better understanding of the depth of your portfolio and where your innovations may be leveraged.
The Importance of Patent Portfolio Management
Patents are expensive to maintain. Getting a family granted in a reasonable range of jurisdictions will end up costing you around $100,000 and maintaining that family over the course of its life will require an additional $75,000. A process of continual filing without active portfolio management can easily lead to your patent budget spiralling out of control. Managing intellectual property actively has 4 key benefits:
- Reduce Your Patent Budget
Make savings by abandoning patents that are no longer relevant to current technology or in jurisdictions no longer needed.
- Predict and Manage your Future Patent Budget
Forecast prosecution, drafting and maintenance costs for a range of scenarios and use this to inform your IP strategy.
- Improve your Portfolio Intelligence
Regular review of your portfolio allows for the identification of patents that are key for defensive or strategic purposes.
- Identify Monetisation Opportunities
Identify assets that could generate additional revenue through a sale or a licensing deal.
A Detailed Process for Patent Portfolio Management
ClearViewIP can help you model future portfolio costs to better understand cost saving requirements. From there, ClearViewIP conducts a manual review of your portfolio. This can be done on an annual basis or month-by-month as prosecution/maintenance decisions arise, depending on portfolio size. ClearViewIP will rank patents on a jurisdiction-by-jurisdiction basis for:
- Is the patent implemented by the company’s current or future products?
- Does the patent provide differentiation?
- Is the patent in use or likely to be used by competitors or potential licensors?
- Is there market pull for this technology area?
- Is the patent in force in jurisdictions of interest to buyers and does it have sufficient remaining life?
- Is the patent likely to be in use?
Create an IP portfolio management plan and process that meets the business goals of your organization. Analyse and map current IP assets against competitive threats to better understand the value that exists within your portfolio.
The Value ClearViewIP Brings to the IP Portfolio Management Process
We have a team of dedicated analysts with years of experience who are able to quickly analyse large numbers of patents in a wide range of technology areas and who are trained on and have access to multiple databases and IP platforms.
Deep Technology Knowledge
Our analysts have advanced science and technology research backgrounds allowing them to quickly identify potential use cases of patented technologies.
Our deep understanding of technologies and attributes that are currently desirable in the patent market and our strategic business management experience enables us to provide our clients with detailed steps and strategies to take to maximise the value of their IP portfolios.
One recent client achieved a 44% reduction in their patent maintenance budget without compromising the quality of their portfolio.