Patent management strategies: a review

Aim/purpose – Intellectual property right management plays an increasingly important role in firms’ business strategies. While empirical findings prove that strategic intellectual property management is positively correlated with multiple dimensions of firm performance, those competences are still rare. The research on the strategies of patent management is dispersed. Therefore, the aim of this paper is to present an analysis of the main patent strategies. Design/methodology/approach – The method used in this paper is a narrative literature review in the area of strategic technology management. Findings – This analysis of the most advisable patent strategies may allow its users to identify the best strategy in the given circumstances. The main patent strategies are: offensive, defensive and leveraging strategy. Research implications/limitations – This analysis may be of importance not only for researchers dealing with technology and intellectual property management but also for firms willing to efficiently capture the value of their patent rights. A limitation of this literature review is the relatively small number of empirical studies in this area of strategic management. Originality/value/contribution – This paper fills the research gap of the strategic choices left to managers in high-tech firms. The originality and value of this paper stem from the comprehensive analysis of patent strategies. Each of the presented strategies has their pros and cons in a given situation, illustrated by the presented cases. The choice between them should be made taking into account the enumerated factors.