Building a strong IP portfolio involves several strategic steps: 1. Identify Innovations: Regularly review R&D projects to identify patentable inventions and trade secrets. 2. Conduct Prior Art Searches: Ensure that the innovation is novel and non-obvious by conducting thorough prior art searches. 3. File Patent Applications: Draft and file patent applications with comprehensive and precise claims. 4. Monitor and Enforce IP Rights: Actively monitor for potential infringements and enforce IP rights through legal actions if necessary. 5. IP Audits: Conduct periodic IP audits to assess the strength and relevance of the portfolio.
