Intellectual property is a core strategic asset for many firms, and it demands strategic management.
One of our professionals worked closely with a public company to optimize their approach to their IP portfolio. After a summary review of the portfolio in partnership with the client’s senior team responsible for the portfolio, our professionals worked with the client to segment their existing IP into various categories based on function and strategic importance. We then worked with external counsel to analyze and re-allocate maintenance and prosecution budgets based on the categories and their strategic value.
This process enabled the client to prioritize upcoming legal spend relative to strategic importance of the IP implicated, as well as identify potential divestiture and/or licensing opportunities. The process also revealed budget duplications and misallocations, freeing up approximately $350,000 in legal budget for other efforts during the ensuing fiscal year.
In another instance, this time for a different company in another sector, we were asked to help move a stalled licensing and litigation program forward. After initial review, we worked with the client to identify a plan to potentially unlock millions of dollars in potential value from their IP assets, also saving over $750,000 in spend from the budget for the matter for the then current fiscal year. As a result of strategic moves in one of the proceedings, the other party in that litigation spontaneously approached our client with a settlement offer.
