Well tailored value creation methodology combined with patent prosecution strategy can develop new patent portfolios for maximum ROI from existing patents. Many patent applications and newly issued patents can be further developed for creating new values by amending and creating claims and generating family patents to encompass emerging technology and products/services trends, market demands, and strategic exploitation goals (e.g., cross-licensing, monetization etc.).

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Internet of Things (IoT) Strategic Patent R&D for New Value Creation
Alex G. Lee (alexglee@techipm.com)
https://www.linkedin.com/today/author/2853055
StrategicPatent Portfolio DevelopmentExploitingExistingPatents
Well tailored value creation methodology combined with patent prosecution strategy can develop new patent
portfolios for maximum ROI from existing patents. Many patent applications and newly issued patents can be
further developed for creating new values by amending and creating claims and generating family patents to
encompass emerging technology and products/services trends, market demands, and strategic exploitation goals
(e.g., cross-licensing, monetization etc.).
Goldman Sachs defines IoT (internet of things) as the third wave of internet revolution: by connecting to the
internet billions of devices, IoT opens up a host of new business opportunities and challenges. Even if IoT gets a
huge attention recently, the conceptof interconnected devices and connecting billions of devices to the internet in
the IoT is not new and has been researched for over 10 years. Thus, there may be a large number of patents (that
were not intended for specific IoT application at the time of invention) that can be exploited for developing new
IoT patents supporting current and future IoT business goals.

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New Patent Development Opportunity Case Study
Mitsubishi Electric Research Laboratories (MERL) is the North American arm of the corporateR&D organization
of the Mitsubishi Electric Corporation. MERL conducts application motivated basic research and advanced
development. Total of 168 MERL patents filed within 3 years are reviewed for finding new IoT patents
development opportunities. Many patent applications in the field of Wireless & Optical Communications (IoT
Connectivity), Power Distribution System (Smart Grids), Vehicle Control/Information System (Connected Cars),
Electronic Devices (IoT Sensors)and Building Automation (Smart Home) are found to be the good candidates for
new IoT patents development.

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StrategicPatent Developmentfor New Products/Services
One can identify new patent R&D areas (“white space”) that can lead to new products/services development
through the patent landscape analysis. Specific patent R&D subject matters that can cover the new IoT
products/services further can be found from scenarios analysis. The scenarios analysis can show potential
interactions between the potential users and the new IoT products/services via the specific usage of the
products/services and behavior of the user under environments provided by the products functionality/services
offerings. Thus, the scenarios analysis can provide the specific patent R&D subject matters that cover the new IoT
products/services concepts (e.g., specific benefits to the user, products/services design, and the technology for the
products/services).
New Patent Development Opportunity Case Study
Philip Morris International is an American global cigarette and tobacco company. Philip Morris International
wanted to develop new electronic cigarettes that can reduce the disease and death caused by tobacco significantly.
Patent landscape analysis regarding the electronic cigarettes reviled that it is hard to find white spacein the
traditional electronic cigarette R&D areas. Specific patent R&D subject matters that can cover the new electronic
cigarettes were found based on the scenarios analysis: Smart electronic cigarettes exploiting the IoT applications.