WISPRO Analyst Eugene Lu pointed out:
“Patent management practices such as portfolio planning, patent drafting, filing, maintenance, and patent risk management (FTO) are often costly. For example, in terms of invention patents, in the case of a patent family applying for the United States, China, and Taiwan, the application fees plus 20 years of maintenance costs add up to around 50K to 70K (USD).
Patents are territorial rights. Suppliers should fully clarify the correlation between their products, patents, and target markets, and adjust the investment in patent management practices accordingly, which can effectively reduce operating costs.”