The document discusses blue ocean strategy and how it can be applied through a blue ocean patent strategy. Blue ocean strategy involves creating new market space by changing the boundaries of an existing industry. A blue ocean patent strategy exploits existing patents to achieve value innovation and serve customers in new ways. It can develop new business models by determining which patented factors to raise or create based on a strategy canvas. Integrating patented technologies into existing platforms is another way to achieve value innovation and create new integrated value propositions. As the IoT market grows, IoT platforms provide opportunities to develop blue ocean patent strategies and create new platform-based business models in this emerging space.