Posts Tagged ‘patent strategy’
Patent StrategyMar 28 2013
- Bob Cannon
- 0 Comments
Patent Strategy must be based on the understanding that a patent is an expensive, time consuming undertaking that allows the patent holder to defend the patent in court. Consequently, there should be a business assessment of where best to spend time, money and effort in product development. Wendell Leimbach of MLE Consulting uses a matrix for strategically evaluating new product ideas, which I have modified slightly.
This product matrix divides ideas into four quadrants based on ease of entry into the market on one axis and uniqueness of the idea on the other. Ideas below the line should be discarded unless there is some way to move them above the line. Ideas above the line should be evaluated for intellectual property protection.