The Hallmarks of a Rational IP Strategy *

The Hallmarks of a Rational IP Strategy *

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Faced with ever-shrinking budgets and mounting pressure from the C-suite to demonstrate intellectual property (IP) value, many enterprises no longer file anywhere in the world where competitors might manufacture or sell products. But simply electing to file more selectively than in the past does not necessarily equate to an optimal global patent strategy.

A rationale patent strategy in 2023 must start with determining what the company is trying to accomplish, and whether patents—specifically innovation patents—are the right form of intellectual property to pursue and ultimately maintain. In a world where company budgets are decreasing and innovation and competition is increasing, a holistic view of all forms of IP and the protection they can provide is essential, particularly given that design patents, utility models and trademarks are far more inexpensively than an innovation patent to obtain and maintain.

With a holistic view of what can be accomplished, in terms of markets, competitors and importation, freeing up financial resources not needed to pursue innovation patents and pay annuities can lead to more innovation being protected, and with better, more streamlined and thoughtfully designed protection.

This panel will discuss how to create an optimal global patent strategy, specifically addressing how a rational strategy should be informed by (1) a holistic view of the company landscape, which includes consideration of where you manufacture, your largest markets, and where R&D occurs; (2) a holistic view of competitors and counterfeiters, considering where they manufacture, conduct R&D and sell; and (3) the need to achieve the maximum protection in whatever form within budget constraints.

Materials

Chief IP Counsel Tips for Building a High-Impact Team

Seven Hallmarks of a Rational Global Patent Strategy

Does Your IP Strategy Need a Tune-Up?