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Top 5 Proven IP Valuation Insights And Best Practices

Top 5 Proven IP Valuation Insights And Best Practices

IP valuation best practicesTo make the most of your key technologies and the opportunities in front of your organization, accurate and effective IP valuation is vital.

However, IP valuation is a complex process due to the interminable variation of underlying technologies, legal issues, business issues and the context in which they are conducted.

To ensure your intellectual property serves your business strategy, you must avoid churning out patents without a plan. The following five points are proven best practices when it comes to patent valuation.

1. Conduct Patent Portfolio Mining

Over the years, your IP portfolio may become overstuffed with valuable patents, and it is important to mine them for improved company revenue. Companies that neglect their IP portfolio are wasting money. Which patents are no longer relevant to your business strategy?

To discover which patents in your portfolio are relevant and which are not, have an IP valuation expert conduct patent portfolio mining. Having your patents mined helps you to see where and how your patents apply to industries and technologies. Patent portfolio mining clears up the clutter of your IP portfolio and may also help you find potential buyers for your unused patents.

2. Partner With Patent Portfolio Management Experts

Bringing on an IP consulting firm, one that fully comprehends the industry and the technology that they are valuating, is important for your organization. These experts are made up of engineers and analysts with years of industry experience.

With their high level of experience, an IP consulting firm helps you identify, evaluate, capture and protect valuable IP assets. Their invaluable knowledge of IP valuation is what helps you create a robust and effective IP strategy.

3. Perform Comprehensive Market Analyses

Another effective way to conduct IP valuation is to have your IP consulting firm perform comprehensive market analysis to determine where your technology stacks up amongst your competitors.

Market analysis is a methodology that involves determining what a buyer is willing to pay for similar intellectual property. This comes by ascertaining if there’s an active market for the patent, or a similar one, and also if there have been past transactions of comparable property.

4. Determine Your Patents’ Life Cycle

Most investors aren’t going to be interested in a patent that has limited years of relevance or patent protection left. On the other hand, with a recently issued patent, the technology has not properly matures and there is no potential to litigate at that time.

That is why it is important to understand where your technology exists in its life cycle. Generally speaking, it is better to acquire a patent after it has been proven useful in the marketplace.

5. Take Timing Into Consideration

Technology changes rapidly, which affects the value of your patents. The values of your patents are going to fluctuate, depending on how old they are and how relevant they are.

You may need to sit on your patent for several years, even a decade, and wait for technology to catch up. Conversely, waiting too long means you may have a hard time attracting demand. Your IP consulting firm helps you navigate the ever-changing tide of technology.

IP valuation requires in-depth knowledge of relevant technologies, market conditions and patent law. Along with this understanding is the ability to bring many facts and considerations together to build an argument for why a patent has value. Patent valuation is not only a function of revenue, but also a matter of timing and the other strategic benefits it may yield.

Ready to learn more about proven best practices for mining patent gold? Contact the IP valuation experts at TechPats today.


IP Management: 5.5 Critical Reasons You Need An IP Consulting Firm

IP Management: 5.5 Critical Reasons You Need An IP Consulting Firm

Intellectual property means much more than just innovative inventions and patents. To realize and enable different income streams, your IP portfolio must be properly managed to safeguard proprietary technologies and help maintain a competitive advantage in the marketplace, while also attracting interest and investments.

An IP consulting firm is an important ally when building or strengthening your patent monetization efforts.

Partnering with an IP consulting firm go hand-in-hand with a robust IP strategy that aims to identify, evaluate, capture, protect and attain valuable IP assets. Here’s why:

1. You Find Engineers And Analysts With Years Of Experience

A good IP consulting firm has engineers and analysts with years, if not decades, of industry experience. They know how to take a 30,000-foot view of your patents and their related technology, but are also able to get up close and identify key patents that form the basis for a solid patent monetization strategy.

2. You Secure The Absolute Best Blueprint For Patent Monetization

As a leader of your corporation, you do not necessarily have the dedicated resources it takes to develop a comprehensive roadmap for successful IP management.  When you partner with an IP consulting firm, they are focused fully on realizing the potential of your IP portfolio, leaving no stone unturned. With an underlying awareness for integrated, exhaustive patent mining, the right IP consulting firm gives you the absolute best blueprint for patent monetization.

3. You Easily Adapt To Industry Trends For Strategic IP Management

Industry, technology and applications are ever changing, and it is often difficult for company leaders to stay ahead of the curve where the future of their patents are concerned. To truly get the most from your IP portfolio, it requires strategic IP management that is best attained with an experienced IP consulting firm that’s able to predict future industry trends. This high level of strategic patenting is going to give your company an edge over competitors.

4. You Gain Reverse Engineering Services And Teardown Capabilities

When your company faces competitor threats to your intellectual property, you need patent litigation support. The right IP consulting firm has reverse engineering services with experts in technology teardown tactics. The evidence these experts uncover is commonly a deciding factor in court.

5. You Receive Patent Litigation Support For Legal Proceedings

Whether you are protecting your IP against infringers or defending your products against the infringement claims of competitors, an IP consulting firm provides highly experienced patent litigation support services to work with either in-house or outside counsel. The firm acts as a silent partner for legal counsel. With attorneys on staff, the firm understands the position that you may be stuck in and tailors the work product for use by those acting in a legal capacity.

5.5. You Get Efficiency And Value

Effective IP management requires a quick, proactive team to get through a portfolio, comply with a docket or find EoU. When you partner with an IP consulting firm, they provide all the IP services you need, as they have the team already built and ready to go to work. This level of efficiency and expertise equals value by saving your time and money both in the short- and long-term.

While providing your business with a proactive approach to IP management, an IP consulting firm also assists in mitigating significant risks resulting from poorly considered or reactive approaches to patent monetization.

Ready to partner with the right IP consulting firm and receive long-term, successful IP management for your corporation? Contact the patent experts at TechPats today.