The book you're reading, Essentials of Patents, is about the development, protection, commercial exploitation, and management of patents.
Once the domain of wire-haired inventors, engineers, and their patent attorneys, patents are now at the forefront of corporate value creation and shareholder wealth. The competitive global economy exerts even more pressure on corporations engaged in business internationally.
The rise in counterfeit products and patent infringement cases not only pecks away at the core value of a patent portfolio—it threatens long-term viability of a company's products. In summary, the practice continually erodes shareholder value.
Intangible asset value for technology-based companies has grown from 38 percent of a company's market capitalization in 1982 to 62 percent in 1995, 1 leaving little question as to why so much management emphasis is being put on patents.
Because of the value contribution that patents make to corporate wealth, it's now critical that all managing departments, not just engineering or legal department managers, integrate patent management into their daily routine. Managers generally understand how patents affect the engineering and corporate legal departments, but how do they affect HR, the IT department, marketing, or finance? More important, how can these key managers more effectively manage patents to promote value creation?
In addition to providing the first set of management tools for managers in every department within an enterprise, this book introduces the entire tier of top management to a groundbreaking new quality