The buck stops here: developing and managing a patent portfolio

In the competitive high-tech world, small advances in technology often result in a large advantage over competition. In order to maintain this advantage, many companies have now begun to rely on intellectual property rights and particularly patents, instead of the traditional “first on the market approach”. This trend has increased the value of intangible assets such as know-how and intellectual property dramatically. In fact, by the year 2000, it is believed that many small to mid-size companies will generate more revenue from their intellectual property holdings than they will through sale of their products and/or services. This situation already exists with some companies, most notably Texas Instruments. This paper addresses the advantages associated with establishing a strong patent portfolio above a critical mass and the pitfalls associated with in adequate patent protection. The costs to obtain patent protection in multiple jurisdictions are discussed and filing strategies are presented to minimize and/or defer expenditures