Patent priority network: Linking patent portfolio to strategic goals

Abstract

Abstract When applying for patents, companies should consider performing patent portfolios as a means of integrating their patent strategy to shape their overall business strategy. This is an important issue for any company in pursuit of enhanced operational performance because the whole raison d'être behind the application of patents is the anticipation of achieving maximum competitive advantage. A prerequisite for such a company is a decision analysis model of patent portfolios because this has the added advantage of being readily applicable to the evaluation of the quality of its competitors' portfolios; thus, by understanding both itself and its competitors, a company can attain a superior position. To demonstrate this, we examine patent priority networks (PPNs) formed through patent family members and claimed priority patents, performing a model of patent portfolio analysis and then going on to determine the algorithms. We suggest that information retrieved from this network can provide a useful reference tool for decision‐making by company CEOs, CTOs, R&D managers, and intellectual property managers.

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