e-Pharmatimes

Patents and Portfolio Management: A Business Case Study for Strategic Growth Introduction In today’s fiercely competitive world, protecting your ideas can make or break your business. Patents and intellectual property (IP) portfolios are powerful tools for staying ahead. They not only guard innovation but also increase a company's value and influence in the market. A smart approach to patent strategy helps turn inventions into assets that last. This article dives into a real-world example to show how managing your patent portfolio can boost growth and create lasting success. Understanding Patent Fundamentals and Strategic Importance What Are Patents and How Do They Protect Innovation? Patents are legal rights granted to inventors for new inventions. They give exclusive control over how the invention is used for a certain period—often 20 years. There are different types of patents: utility patents protect new gadgets or processes, design patents guard unique appearances, and p...