Patent Portfolio Management

Patent is a very assuring yet delicate right. The commercial monopoly it brings along with itself is strong enough to attract inventors and investors in creation of new inventions but the legal aspects of a patent needs smart and efficient management to protect the invention and make it capable enough for the grant of patent. This process is called patent portfolio management and goes hand in hand with each step of the product development. Being a commercial right, it is very important to package the patent attractively and smartly so that it not just protects itself from infringement but also appeals well to the relevant consumer market. This management can be done by patent portfolio managers who must carry knowledge of multiple disciplines like IP Analysis, Data Mining and IP Database Management with themselves. This is a new emerging field that holds great potential for new professional and also assists inventors in protecting their invention at every stage of product development. This paper explains the process and various phases of Patent Portfolio Management and the related aspects in detail and also the challenges involved

Business · Data science · Economics · Intellectual property · Management · Patent analysis · Patent portfolio · Political science · Portfolio · Project management · Project portfolio management · Computer Science · Innovation Policy and RD · Law · Private Equity and Venture Capital · Research, Science, and Academia · Finance