PATENT REVIEWS

Patent Reviews can be done in many ways and for many reasons. They are also sometimes called patent audits. The idea is to examine a portfolio of patents according to some criteria.

For example, companies that invest heavily in R&D and patenting often end up with large patent portfolios for technologies that they do not use in their products. These portfolios are expensive to maintain. Patent reviews can, and in fact should, be done on regular basis to identify any potentially valuable patents, and to also identify patents that can safely be dropped to reduce portfolio costs.

A patent may become valuable if, due to changes in technology, the patented invention finds new applications in products. Such a patent can then be licensed to companies developing products based on the patented technology. On the other hand, changes in the course of technology development can render some patents useless, for example when a newer and better alternative technology is developed.

Patent reviews can also provide valuable input to the senior leadership of companies on their IP assets, and can help to guide strategic decisions about technology fields where the company is strongest.

When performing due diligence on a company for acquisition or valuation, a patent review can also be helpful to identify the value of the IP assets of the company under review.

Please contact us if you would like to discuss how patent reviews can provide valuable feedback on your patent portfolio.