Patent information can be used in three important areas of technology management.

First, analyzing patent information provides relevant information about the competitors R&D strategies and helps to assess the competitive potential of technologies. Some important questions of technology management addressed in this context include: How can technological changes in the competitive environment of the firm be detected and evaluated? How can the firm's position be evaluated in comparison with the competition in technological fields? How can changes in the competitions technology strategies be identified? How can the R&D budget be allocated to the most promising technologies?

Second, patent information can be used to identify and assess options for the external generation of technological knowledge. Some important questions of technology management addressed in this context include: How can external technological know-how which is of relevance to the firm be identified? How can the technological position of potential acquisitions and R&D alliance partners be evaluated? How can the technological fit between the acquisition target or the R&D alliance partner and one s own firm be determined?

Third, patent information can be used for storing relevant knowledge as a core element of knowledge management and as a tool for human resource management in R&D. Some important questions of technology management addressed in this context include: How relevant knowledge can be made available to recipients in the organization? How can leading inventors in a specific technological field be found? How is it possible to ensure that leading inventors remain in the acquired firm?