patent-portfolio

Vocabulary Word

Definition

A 'patent-portfolio' is a collection of patents held by a specific entity, like a company or an individual. It is like a treasure chest filled with unique ideas or inventions that the entity has the sole rights to use, produce or sell.

Examples in Different Contexts

In corporate strategy, a 'patent portfolio' refers to the collection of patents owned by a company, reflecting its technological assets and innovation capacity. A corporate strategist might discuss, 'Managing our patent portfolio effectively is key to maximizing its value and supporting our long-term strategic goals.'

Practice Scenarios

Tech

Scenario:

With the recent technological breakthrough, we have a chance to further enhance the unique selling proposition of our product.

Response:

I agree. By strengthening our patent portfolio, we can effectively secure our unique selling proposition.

Business

Scenario:

Our competitor has recently acquired several patents. This could pose a threat to our dominance in the market.

Response:

We should also consider strengthening our patent portfolio to keep our edge in the market.