As most entrepreneurs and business owners can tell you, one of the most significant considerations that companies face is how to protect their work. Managing intellectual property is now integrated with overall business models and corporate strategy. For this reason, patents have become crucial strategic pieces in business and competitive intelligence in the twenty-first century. Having the right patents, and even more importantly, knowing how to use them can either bolster or harm a company. As technology and rapid advancements in innovation become the cornerstone of corporate success, companies’ research and development (R & D) and patent spending have become more important than ever.
Jansen, Amy. "Patents as Business Intelligence Tools." Journal of the Patent and Trademark Research Association 24 (2014).