Proactive approaches are key to patent risk management
Patents protect products, prices, and profits. Experts know that patents owned outside their own organization pose an existential threat to each of these. Patents can prevent the sale or importation of products and impose crippling royalties and damages. Patent risk management is an integral part of a company’s IP strategy.
If you don’t own the right patents competitors will line up to steal your market share and the value of your intangible assets can dissipate into the ether.
81% of patent owners will deal with patent risk in the next two years, yet less than 50% have a framework in place to deal with these risks when they arise. With intangible assets making up 80% of enterprise value, why do we take such a reactive approach to patent risk?
Nigel Swycher, CEO LexisNexis Cipher, and Francesca Levoir, Head of Marketing, authored a report titled The Management of Patent Risk: why proactive engagement costs less.
The report covers the following:
- Key Findings from the patent risk survey
- Recognizing the common ground
- Classification of patent risk
- Mitigation of patent risk
- Communication of patent risk
- Suggested framework for patent risk
- Prevention is better than cure
To access the full report, fill in the form below.
The abridged version of this article first appeared in IAM on 10 November 2021.
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