When cash flow is limited, it is tempting to slash expenditure across the board, including reducing or even ceasing expenditure on intellectual property. But intentionally deciding to jettison IP rights may be misguided and short-sighted. Loss of a business’ IP rights may well be worse for long term business value than losing tangible assets, as tangible assets can be re-purchased. Abandoned IP rights, on the other hand, typically can’t simply be re-established when finances look healthier.
In this seminar, Mary Turonek and Peter Caporn provide tips and strategies to reduce IP spend in the three major stages of the lifecycle of patent rights: the establishment of patent rights (Filing), obtaining enforceable patent rights (Prosecution); and maintenance of patent rights (Maintenance), so that significant value is not lost in the short term and businesses are better positioned when market conditions improve.
The following was recorded live as part of IP in Focus, Series Two on 5 August 2020.