It is important for organizations to focus on all aspects of the patent lifecycle to ensure IP strategy most effectively supports the organization’s overall strategic objectives. We characterize the lifecycle as consisting of four aspects or stages: Analyze/Strategize, Build, Defend, and Monetize. Often limited resources prevent adequate attention being given to each of these aspects in even the most well-intentioned companies. The daily workload of managing the patent-related operational activities of one of the aspects often overshadows what is needed to have the organization address the other three. While prioritization and expense management certainly are necessary, the best run organizations ensure that each of these areas receives sufficient focus.
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