is the Managing Principal of Patent Transactions at TechInsights. In this role, he provides and manages a wide range of professional services to large technology corporations and law firms. The inventor of well over 250 patents in semiconductor technology, Boyd offers his knowledge and expertise of the IP ecosystem by helping clients develop and execute IP monetization programs. He can be contacted at: email@example.com.
To keep pace with competitors, businesses must constantly monitor, adjust, and streamline their patent portfolios. Doing so ensures that portfolios deliver the maximum potential return on investment by staying aligned with corporate goals, industry and technology developments, and growth areas across industries and businesses. This process requires managers to adjust the makeup their portfolios to maintain effective coverage in specific areas and eliminate or reduce low-value patents to minimize maintenance… There are four goals that can be achieved through portfolio audits: streamlining portfolios; ensuring portfolios are well-positioned, positioning portfolios for optimal monetization, and ensuring the portfolio provides sufficient coverage without excess. Portfolio audits may help identify strengths and gaps.
One of the costliest mistakes a startup can make is mismanaging intellectual property rights. A company needs to not only manage its own IP rights, but also avoid those of third parties, including competitors. To be on the safe side, therefore, intellectual property management should include efficiently protecting the startup’s IP rights while also avoiding the IP rights of others.