All practitioners within the IP space, whether they be entrepreneurs or legal professionals, know that after the rights have been secured, it is necessary to make the most of the current and future value of the property. This can be done through a process of segmented portfolio innovation.
Think of each trademark, copyright or patent, as being a part of a functional valuation mechanism. These hold different values, to different co-creators, whether it be monetary, or intangible, itself.
For every opportunity to grow, discard, continue or exit, with the distinct elements that are infused with IPR, there needs to be ample time and expertise applied. This usually involves benchmarking, then using a form of a market barometer to better understand the place within a sector.
Taking into account some of the unmeasurable possibilities of interaction between a customer and company, leads the way towards getting to the proper agile fit of the IP.
Next, a prioritisation approach to isolating the cash cows that can scale, and the not-so profitable properties, in a continuous iterative model, makes the most of time and resources.
After some historical milestones have been reached, the portfolio manager can then revisit upon the IP optimisation cycle, and add and take away as needed.