The current global economic scenario has compelled IP-centric businesses to adopt several cost-saving measures in an attempt to manage their budgets effectively. In such circumstances, maintaining a patent portfolio has thus become an expensive ordeal. One of the ways to overcome this challenge is to exercise IP due diligence and assess patents based on their importance. It can help businesses to decide whether to renew them by paying the maintenance fees or abandon them if they no longer hold much value.<\/p>\n\n\n\n
Abandoning weak patents can generate a reverse cash flow that can be effectively utilized to streamline other important aspects of businesses. To detect unnecessary patents that can be abandoned, businesses often resort to patent pruning. This article defines patent pruning and explains its importance in context of the Fortune 500 companies that often abandon some of their patents every year.<\/p>\n\n\n\n
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