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.
Please see full publication below for more information.