Don’t Destroy Your Corporate Asset Value by Outsourcing Responsibility for Managing Your Patent Strategy to Your Attorneys

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If your business relies on on patents to provide measurable competitive advantage, it is an error for you to outsource patent asset management to your attorneys. When any management function is relegated to a cost-center, like your corporate legal department, the focus of the responsible manager necessarily becomes cost control. Your company’s in-house legal managers are (more often than not) incentivized to reduce costs, and they generally will work to do so. But, as a wise man once said: “You have to spend money to make money.” A cost reduction model is inappropriate when it is your responsibility to maximize return on business assets—and this includes your patent assets. This short article posits that when seeking to develop and deploy an asset-generation model for patent protection, you should not rely on your in-house lawyers to execute your business plans.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© IP Refinery | Attorney Advertising

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