Strategic Patenting Tips to Elevate Your IP Game
Whether you are building your portfolio with new patents, looking to enter new markets or looking to monetize, it is critical to have a well thought out strategy. This can involve a lot of heavy lifting; what’s in our portfolio now? Where do we want IP protection in the future? Where are the markets going? Asking these questions, and many others, can help reduce your patent development costs while providing maximum coverage of inventive concepts. Expansive coverage also discourages your competitors from producing design-arounds because they prove too difficult, costly or impractical. You will also be prepared moving forward with an IP strategy.
How can I be sure that my IP portfolio is supporting my current business as well as future growth?
The experts at TechPats are uniquely skilled to work with your inventors and creative thinkers to brainstorm evolving technology in your niche. Armed with this information our professionals vigorously investigate current and future markets and provide 3rd party guidance that will fortify the goals of your business as it evolves by laying the groundwork for a robust and focused plan.
Patent maintenance has typically been too costly. How can I be sure that my IP portfolio will provide a healthy ROI?
An in-depth IP portfolio analysis ensures that only those patents that have the greatest potential for return are supported and recommendations for all others are presented, including potential sales or even abandonment. This method of portfolio review allows clients to reap the benefits of a robust IP portfolio without the financial and administrative burdens associated with maintaining patents that do not support the goals of the business.
It has been a long time since our firm developed new IP. We have a few assets but I am not sure if have enough new innovation to support a comprehensive plan.
Most companies underestimate the potential of their current IP holdings. If you are currently supporting a small-to-medium sized portfolio, it is possible that there is additional IP residing within that just needs to be considered as part of a broader IP plan.
My market is extremely competitive. We often find that our competitors are designing nearly identical products that skirt our IP claims without actually meeting the definition of infringement.
Robust IP portfolios help to avoid this problem. Your innovative developments are worth protecting and the experts at TechPats understand how time consuming and costly it can be to defend your IP when ill equipped. By getting ahead of the industry from an IP perspective, your business can be better protected as it gets a stronger footing in one industry, or in trying to gain footing in another.
Through a realistic evaluation of your current assets and the implementation of a sound strategic plan, TechPats can help you navigate the growth of your portfolio and your business as a whole by looking at market analysis, competitive analysis and patent landscaping.
Strategic planning is a great way to stretch your IP budget and run a healthy program, allowing your business to capitalize on current assets and retain IP potential for future growth. The experts at TechPats are uniquely skilled to identify areas in which your portfolio can be optimized to generate untapped revenue and help in defending core technologies.
Ready to learn more about strategic planning and how to apply investor tips to increase the value of your portfolio both now and in the future? Contact the patent portfolio experts at TechPats today.