Conventional wisdom advocates a "3 x R solution" when faced with recession:

refocus on core customer needs, redefine your product/services to offer the best

value proposition in filling those needs, and reduce the costs of providing those

product/services. In other words, "better, faster and cheaper" survives the

downturn. Nevertheless, when budgets tighten the typical knee-jerk reaction is to

cut research and development. That would be a mistake; you should bet your

bottom dollar on it. Of course, given any spare change it is also wise to protect the

resulting innovation. Intellectual property budgets tend to rise and fall with R&D

spending, and during the good times we get complacent with these costs. It pays

to take another look now. An IP budget can be significantly reduced without

compromising the value of your IP portfolio. If you decide to reduce the IP budget, Ober|Kaler's Royal W. Craig has five suggestions.