Just in case it has slipped your mind: Patent strategy must always be rooted in economics.
I’d love to share Prof. Dr. Alexander J. Wurzer’s recent IP Management Nugget, which is a great reminder that a smart patenting approach requires identifying the payment stream generated from the use of the IP.
I see it all the time that companies have a hard time figuring out what the IP is used for in the first place. Or even worse, some don’t even ask this question, but file patents “because we need patents, don’t we?”.
Which brings us back to the fundamental question which needs to be answered already before IP rights are even created:
What will/may/can the future IP right be used for? What’s its business case?
Please watch the video to learn more. And then tell me in the comments: What’s the business case of your IP?