Honing Your IP Portfolio in Difficult Economic Times
In today’s climate of uncertainty and constrained budgets, a life science company needs to make smart decisions regarding how and where to spend money in the short and long term to build value in its IP portfolio. Life sciences companies are forced to ask tough questions related to where patent filings are essential, weighing the issues of risk and protection, and if and when to embark on a licensing strategy. When weighing these tough issues it is important that IP counsel and management work together to build a strategy that meets the company’s current and long term needs.
It is more important than ever to determine which portions of the existing IP portfolio provide effective protection to core products and/or services of the company and which portions of the IP portfolio are not mission critical. The ever-shrinking legal budget for IP portfolio strategy implementation also requires evaluation of the costs and potential benefits of legal opinions and litigation.
In this session, we will discuss strategies, tips and best practices from both legal and practical business perspectives.