BlackBerry manufacturer Research in Motion has encountered numerous setbacks in recent months as public relations nightmares and a continued decline of demand have allowed competitors to surge past it in the mobile device market. To halt this trend, at least one investor is suggesting that it may be time for the company to consider abandoning its current business model and leveraging its vast patent portfolio instead.

According to Forbes, RIM is searching for answers after revealing a 10 percent drop in share value, bringing the company's stock price to its lowest level since 2004. Subsequent reports that the new BlackBerry 10 operating system will not be available until late 2012 has led a number of technology experts to question the brand's long-term viability.

Market analysts from Jaguar Financial released a report this week suggesting that "RIM should sell its handset business and monetize its patent portfolio" instead of trying to compete with the likes of Apple, Google and Nokia.

It remains to be seen whether or not RIM will admit defeat on the hardware front, but such a decision could pay dividends. According to Jaguar, RIM's proprietary secure messaging platform is one of several mobility solutions that continue to gain support and provide significant value to the enterprise segment.