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Theories on Valuable Patent Portfolios(1):
- Mainly on Environmental Factors Affecting Patent Portfolio's Value -
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I. The Evolution of Market |
Only commercial use, or market use, of patented technology is prehibited by the patent
law. So, value of a patent is dependent on the usefulness of it's technology (patented
invention) in the market. However, the market is not simply stable. It changes
dynamically and unexpectedly.
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• The Concept: What is the Market? |
- A Base Line: Market is the place where customers show their needs and wants:
"Market Requirements".
- A Bad News: Things are changing. The market requirements are also changing,
and the change is abrupt in timing and direction.
- A Good News: However, it still has a recognizable pattern.
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• The Market Evolution: The Change of Market Requirements |
- Introduction of a New Product into Market: Performance & Reliability Matter.
- Technical Development Causes further Enhacement in Performance & Reliability.
- Consumers Want Different Merits from the Product.
- Competitors Need Different Technologies to Deliver Different Merits.
(Clayton M. Christensen, 1997, THE INNOVATOR'S DILEMMA: When New Technologies Cause Great Firms to Fail, Harvard Business School Press).
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• The Pattern: Modelling the Market Evolution |
- Performance & Reliability → Convenience → Indvidualization &
Design → Low Price
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