By Eden Joy Pacsial-Ong, Ph.D., Nerac Analyst,
Originally Published: April 19, 2016
In today’s competitive markets, the value of issued patents cannot be overstated due to their exclusionary right in preventing third parties from making, practicing or selling an invention. Driven by the significance of intellectual property (IP), technology organizations continuously innovate and protect these intellectual assets by generating robust patent portfolios. However, growing and maintaining patent portfolios come with budget implications stemming from the cost of patent prosecution. With the significant upheavals and turmoil in the US patent system brought about by the uncertainties in the law that defines patentable subject matter, building an IP strategy is evolving into an important business decision that needs careful planning and execution.
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