Strategic portfolio management of university-owned patents for commercializing inventions

In the contemporary knowledge-driven economy, universities are pivotal in generating intellectual property through research. Efficiently managing and commercializing the resulting patents are critical for fostering innovation and economic growth. This article presents a comprehensive framework for the strategic portfolio management of university-owned patents, focusing on effective patent selection and periodic evaluation through a structured scoring system. Drawing inspiration from international experiences such as the Bayh-Dole Act, the framework incorporates scoring scales that evaluate novelty, inventive step, commercialization potential, and inventor team status. The process guides universities in selecting patents for their portfolio and periodically reevaluating their relevance. This systematic approach aims to optimize patent commercialization efforts, enhance innovation transfer, and align universities' patent portfolios with their strategic goals. However, the framework is not without limitations, including subjectivity in scoring and evolving market dynamics. Future research directions could address these limitations and further refine the framework to maximize the impact of university-owned patents in driving innovation and economic progress.