Assessing the IP asset base with the current corporate goals and objectives throws light on the gaps in patent families and areas where there is clear misalignment. A quick analysis of the Technology areas will reveal which are hot areas and which things of the past. In cases where past holds large inventories of assets then you might be better off to divest through either patent expiration or outright sale of the IP.
- Define & document high level objectives of IP Portfolio – both long term and medium term
- Assess the alignment with business strategy
- Context for alignment:
- IP Protection – prevent competitors from copying differentiated features of products
- Protect brand(s)
- Provide Freedom to Operate (FTO), especially with competitors
- Improve ROI on investment through generation of IP Revenues through out-licensing
- Prioritize which IP assets are required for core products or technologies
Prioritizing these drivers to organizational success influences the type of assets needed and the most important products or technologies the assets should address. Next, identify the high-level objectives of the IP portfolio for both long-term and medium-term. Thereafter, assess the alignment in light of the objectives.
About VajraSoft Inc. – VajraSoft Inc. is Intellectual Property (IP) Management Software company, helping customers manage innovations and monetize IP’s. Our award winning products empower businesses and IP law firms to automate the patent filing cost estimation process of creating cost estimation quotes for filing a patent in any country globally. VajraSoft Inc. PatFolio helps customers with Invention Disclosures Management, Drafting Patent Applications, filing, managing patent prosecution life cycle and patent maintenance.
VajraSoft Inc. is Master Class IP Solution provider, and its products won several Cloud awards including – UP Start Awards for Best Industry Application for 2012. CIO Review magazine selected VajraSoft Inc. as 100 Most promising Big Data companies for 2014. Silicon India magazine listed VajraSoft Inc. as Top 100 Technology companies in US for 2013. VajraSoft Inc. is also Finalist of StartmeupHK Venture Program, conducted by the Govt. of Hong Kong and UP Start Cloud Award for Best BI / Analytics Application for 2013.
PatFolio not only automates invention disclosure management but also managing patent portfolio and patent prosecution life cycle. In addition, PatFolio provisions various checklists useful for patent filing. Using these checklists IP Professionals can ensure requisite information needed for preparing patent application is available and ready for filing. These patent application checklists save money, time and reduce / eliminate errors in patent application filing with patent office.