Maximizing Innovation by Translating Intellectual Property into Revenue
What’s in your IP cupboard?
Progressive companies create innovation teams. They invest countless man-hours, dollars and other resources in investigating and pursuing innovation. Yet they often leave their intellectual property untouched, thereby failing to translate patents and other IP into revenue opportunities.
American industry and academia hold some two million current patents granted by the U.S. Patent and Trademark Office. Yet, the vast majority remain idle. In a tight economy – and even in the best of times, failure to exploit existing patents for profit means more than money’s being left on the table. New opportunities – and the possibilities they spawn in kind – are lost.
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