Facing economic headwinds, companies are looking to tighten the belt around costs, including the costs of patent portfolio maintenance. The financial commitment of maintaining a patent portfolio can be considerable. The official fees to sustain even a relatively modest portfolio over its lifetime has the potential to represent a multimillion-dollar investment.
Intellectual property teams need to be prepared to shoulder their share of budget reductions. This means being prepared to analyze a potentially expansive portfolio and decide what to prune while also limiting the impact on any single business unit or region.
Fortunately, a multi-dimensional review of your company’s patent portfolio may lead to more than short-term cost savings. It can also help strengthen the portfolio and highlight opportunities for monetization.
In this whitepaper, we explore five strategies to help companies take a fresh look at patent portfolio maintenance decision-making and spending.