Product Lifecycle Management
Lifecycle strategies are dynamic due to rapidly changing markets, new competitor products and offerings, advancing technologies, and new or changing regulations and laws.
We provide counsel on patent and product lifecycle management
strategies and regularly help companies assess new opportunities to maximize franchise value. Intellectual property is only one factor in a product lifecycle management review. It is, however, most frequently a critical component of such a review. Done right, this process guides product-focused strategic planning and can dramatically increase and extend a product's revenue stream.
We provide a tailored approach to lifecycle management that helps companies achieve their short and long term business goals, and fully considers the impact that changes in regulations, laws and the competitive landscape may have upon such goals.
Why Sterne Kessler?
In counseling on product lifecycle, we leverage our:
- Knowledge of the nuances of, and distinctions between, the first-to-invent and first-to-file patent regimes and the opportunities for both strengthening IP positions and challenging third party IP under each
- Familiarity with current and prospective patent landscaping and risk management and assessment techniques and strategies
- Experience in searching patent literature and prior art in connection with due diligence analyses
- Experience in obtaining additional IP protection to complement and supplement fundamental product and technology platform IP
- Experience in mining, protecting, and managing IP portfolios to maximize IP revenue streams
Lifecycle strategies, while most typically viewed as relevant to consumer products, apply to all industries. Such strategies help determine how to drive products to market and protect IP. Lifecycle management can also be used to drive innovation, funding, and business development. Product lifecycle management plans should address research and development (e.g., development, licensing or acquisition of new products or extensions of existing product lines), tracking and challenging competitor IP, obtaining new IP protection, and collecting and analyzing post-launch sales and marketing metrics that can drive next generation planning.
Click here to review a list of the six main considerations when developing a Product Lifecycle Management strategy.
- We advised a pharmaceutical company on IP, licensing and marketing strategies for maximizing the franchise value for a seminal technology platform in an emerging field.
- We advised a small pharmaceutical company on licensing and acquisition strategies for strengthening and expanding the IP position relating to one of its products
- We advised a major medical device company on whether to license-in third party IP rights as a way to bolster the IP position surrounding one of its products
- We advised several biotechnology companies on how to create and maintain the franchise value of their technology platforms and lead product candidates