Companies often overspend on patent-related matters but frequently fail to realize the value of their patents. However, there are ways to spend less and make more from your patent assets.
Patents and applications must be viewed like other assets. You would not invest money in a new facility or project without a detailed business plan. Neither should you spend substantial money on anything to do with patents without the same kind of up-front, critical, cost-benefit analysis and careful planning you put into other investments.
