Get the Right Balance and Reduce Resources
Reduce clutter. If a patent is determined to be a waste of resources to renew, (especially if it is approaching the end of the product lifecycle), it should be abandoned. This is particularly true if the benefits of new patents exceed the benefits of your older ones. If a patent is protecting a product in the early or middle stage of its lifecycle, maintaining it and paying renewal fees is in the best interest of the portfolio.
Changing technologies in the early stage of a product lifecycle may require new and similar patents for adequate protection. You will also need to update continuing applications and continuation-in-part applications with new matters and disclosures commensurate with market changes.
Good timing is essential for effective patent portfolio management and balancing. Entering a field late will significantly devalue the patent, and the consequent narrowing of claims, while early entry may result in an overload for your company. We will help you decide if it’s time to get out. You don’t want to waste resources on patents in crowded fields with limited value when you could capture new innovations.