Design/methodology/approach-The paper proposes an audit framework able to point out whether patents are aligned to the overall business strategy, to select those that are not aligned, and to identify the most appropriate exploitation strategy for each patent of the portfolio. The purpose of this paper is to provide a decision support framework that suggests the suitable exploitation strategy for patents. In this paper, the question of how to support Intellectual Property managers of large high technology companies in their strategic decision-making process of evaluating patents is examined. Purpose-Several causes may induce firm managers to analyze the actual technology condition of patent portfolios, among which is the need of exploiting patents strategically. The two implementations show that the framework can be used for strategic planning and strategic technology management. The paper examines the main methodological issues in assessing patent portfolio value then, it describes the characteristics of the framework subsequently, it illustrates the implementation of the proposed framework into two companies which operate in the aerospace and defense sector. The framework employs determinants of patent value that are elicited from patent databases, such as claims, citations, and market coverage, and that are expressed in terms of judgments achieved by interviewing involved managers, such as strategic relevance and economic relevance. The patent assessment process aims at comparing and contrasting the management of patents to the company’s technologic and innovative strategy. This paper develops a practical and reproducible framework that can support scholars and practitioners to leverage the value of patents and to extract all possible strategic information from patent portfolio. Companies need a conceptual structure to assess the value of their patent portfolio. Patents and patent portfolios are valuable assets.
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