Innovate or Perish: Managing the Enduring Technology Company in the Global Market

Conclusion

Maximizing the business value of IP comes from having a broad view of the way IP can be used. The views that lead to traditional strategies, such as of portfolio mining or product-based patenting programs, should be broadened in two respects. First, the ways in which IP may be used should be evaluated. Threats and opportunities to the business, beyond the traditional notion of competitors selling similar products, should be considered. Second, the relevant time frame should be broadened. A business should look into the future when the IP it is investing in now will be available for use. This broader perspective should be integrated into the business and guide decisions regarding the acquisition and utilization of IP to maximize value.