The Prosecution Stage is all about turning the strategy deployed during Preparation into reality.
As we are going to discover in a few minutes, a significant part of this phase also involves managing strategically the patent assets after their issuance.
There are several reasons that make the Prosecution Stage an unmissable step in the overall Patent Lifecycle.
- It defines the future potential of the portfolio
Being the stage that produces the core of the whole process — patents — it directly impacts portfolio performances in the Monetization Stage, setting a baseline for its potential to turn investments into returns.
- It goes hand in hand with Monetization
As we mentioned earlier, the Prosecution Stage doesn’t terminate with the patents being issued but it goes all the way to the expiration of the IP rights into the public domain.
As such, it is tightly connected to the Monetization Stage, especially for what it concerns the Continuous Evaluation and Maintenance steps.
- It is at the center of the feedback mechanism
It is at this stage that patent owners decide whether to maintain or abandon those patents that are not performing well in the Monetization Stage.
Besides deciding whether to keep them active or cease their maintenance, they might even go back to Preparation and adjust their deployment strategy: therefore, it is important for this phase to be flexible and proactive.
Let’s take a look now at the various steps involved in the Prosecution Stage.