Minneapolis patent attorney Mark Stignani describes the three different phases of the value management lifecycle.
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The three phases of the value management lifecycle are essentially an iterative process of assessment, diagnostics on that assessment, and then action based upon the diagnostics, and then it’s a repeat. Basically you look for each and every activity or asset that you want to work upon. Then you diagnose whether that has a high value, a low value, a moderate value, and has any relationship to a product. Then you drive an action on that, whether it’s to abandon, to cull, to monetize, or to enhance by further action of the patent office.