The PDMA Handbook of New Product Development

19.6. Summary

The "Getting to the Best First" screening methodology is a fast, easy, and cost-effective way to begin understand the value of your patent portfolio. By identifying the patents that appear to have the greatest commercial potential, the screening serves as the first step in extracting that value.

The screening process provides you with an organized patent database that makes it easier to identify the company's IP resources (and needs) for future NPD and out-licensing efforts. Every patent is rated according to its commercial potential, allowing future resources to be directed toward those patents that appear to have the highest potential.

Furthermore, screening can guide future R&D decisions (see Chapter 20). If the screening showed that a market need exists or is emerging for a class of patents in the portfolio, further analysis might show that additional R&D in that area would be a sound investment. Conversely, patents that received a medium-low or low screening rating due to a low market need might indicate an area where the company should consider reducing or eliminating its R&D in that area. Similarly, if the screening of an internally developed control system showed that a similar or even better system could have been purchased from a company specializing in such systems, then the company might make better make-vs.-buy decisions in the future. By illuminating a company's IP strengths and weaknesses, screening can begin to guide how the company can capitalize ...