IP strategies also help in protecting IP rights and provide incentives and rewards to innovators. The implication of different approaches helps the organization to use resources in the correct and best way under control.
Companies follow a series of steps that help them to secure their inventions and their position in the market of technology in which they perform. This series of steps is known as a patent strategy. Patent strategy requires a preventive analysis of the state of existing art, and it also helps identify risks and opportunities. It is correlated to the PLCM strategy, which refers to Platform Life – Cycle Management. The platform is an integrated system that is required to design, develop, and supply products. PLCM strategy includes management of platform, development, and improvement of platform, and product end–of–life (EOL) management.
