For companies in technology-oriented industries, the ability to transform inventions into successful innovations is vital for survival. The importance of intellectual property rights is steadily increasing, and the application of patents today goes far beyond their protective function. However, a comprehensive approach to integrating intellectual property rights into the innovation process is still lacking. The authors of this volume identify connection points between research and development as well as innovation and patent management. In the area of strategic foresight, they demonstrate how the use of patent statistical indicators can enhance the description of technology life cycle trends. In the context of strategy formulation, the authors explain the changing practices in patent application approvals.