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|Title:||Enhancing a Firm’s Strategic Intellectual Property Management System – The Role of Patent Quality|
|Keywords:||IP management;Patent quality;IP strategy|
|Abstract:||Knowledge is supreme. Playing the knowledge game is a double edged sword and requires multi dimensional skill to engage prescience with strategic intent. Traditionally, strategic decisions in the intellectual property (IP) context have primarily been uni-dimensional towards maximising monetary value of the IP portfolios created. Research and literature has focussed on valuation of IP as a proxy for IP quality. However, there is a clear cut difference between IP quality and its valuation. The recent acquisition of Nortel Networks’ IP (primarily patent) portfolio by a consortium of firms for US$ 1.5 billion is a live case to have a better understanding of how IP is both evaluated and valued. A shift in the approach towards technical quality helps to first reduce the surrounding noise of market valuation and relate directly to the core competency of a technology firm, which is developing technologies. Many a time, valuation supersedes validity, leading to mindboggling settlements later into the day. In the valuation route to quality, firms (both licensor and licensee) consistently face cases that reflect the dilemma of validity and valuation of the IP generated. In this work, the authors reason the necessity for firms to emphasize on the technical quality of their IP (patents). High technical quality of its patents provides a firm with multiple benefits - foundation for the firm to leverage over longer time, build on core competencies to achieve its strategic intent and have clarity of its contribution by being legally valid and technically valuable to be licensed.|
|ISSN:||0975-1076 (Online); 0971-7544 (Print)|
|Appears in Collections:||JIPR Vol.17(5) [September 2012]|
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