In a world of open innovation, every company needs to pay closer attention to its IP than it used to do. Protecting ideas is costly and time consuming, but it has become too important to innovation to neglect. For the same reasons, the management of licensing must also be revisited. Too often, licensing decisions are driven by a legal perspective, where prior precedents and licensing policies take on a life of their own. Instead, licensing decisions must be driven by the needs of the business model, which will vary over the technology life cycle of the IP in question
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