While IP has existed for a long time, a recent phenomenon is emerging: Large organizations are starting to use IP to gain a strategic advantage over their competitors. As a result, having the right IP strategy has become paramount. Yet, most intellectual property teams within large organizations seem to lack strategic intent. Very often their members have either a legal or technical background. It is rare, to non-existent, to have a strategist in their ranks. This is reflected in the exercise of acquisition, licensing and developing a portfolio. A minute fraction of large organizations analyze their competitor's portfolios when developing their own, however, there is a tendency to analyze the IP gap of a company by conducting an introspective analysis only. The purpose of this book is to establish the founding principles of how to develop an IP strategy.