ABSTRACT
In this chapter, we cover the subject of “intellectual property management strategies and tactics.” Thus, the progress and well-being of societies and nations depend upon how well their needs, wants, challenges, and opportunities are addressed by innovations and how effectively innovations are protected by intellectual property rights. Consequently, “intellectual property management strategies and tactics” are important for value creation, value capture, and promotion of innovations. In addition, in today’s world, the market valuation of companies is exceptionally dependent upon the intellectual capital of the firms. Not surprisingly, therefore, organizations are forced to reckon with the twin needs of “being continually innovative” and “having effective intellectual property management strategies and tactics” in place—to build strong competitive advantage, achieve sustainable economic growth, and enhance the value of the company. Consequently, we explain a variety of relevant topics in this chapter––including sources and types of innovations, forces of innovations, linkage between strategy, innovation and intellectual property rights, competitive advantage and sustainable growth, strategic intellectual property management, approaches for strategic intellectual property management, and defensive and offensive patent strategies. Finally, we describe what are, “non-practicing entities” or “patent trolls,” and how litigations by “patent trolls” impact research and development and innovations.
