Patent landscaping Competitive intelligence is a crucial component of commercial decision-making. When evaluating competitive intelligence, insights, sales, tactics, and market share of competitors immediately spring to mind.
However, patent landscaping research yields some insights. That is the topic that receives the least attention. But frequently used by leading businesses globally.
The most significant competitive intelligence insights that can discover through a study of patent filings will be bound in this blog.
Five Key Takeaways from the Patent Landscaping Analysis.
1. Knowing when a rival is working on a new product
The first definite sign that your competitor is working on a novel idea is the presence of patents. You can keep up with your rival’s work by routinely checking their filings. It allows you to evaluate. This means you wish to enter or compete in this market.
You can also maintain your leadership to reduce the danger of infringement if the inventions they create are near your core intellectual property.
2. Analyse how your rivals are using their human resources.
Are your rivals collaborating with academic or research institutions?
You can discover your competitors’ strategic alliances by using the filing registries of your competitors. It allows you to assess how competitive their coalitions are with your own and determine whether you need to forge new or more alliances.
3. Analyse the strategic direction and R&D efforts of a competitor.
Using patent mapping, you can identify “clusters” of patents related to a specific technology or industry. It might infer a competitor’s efforts. Moreover, pay attention to the quantity and proximity of patents in a particular field.
The report provides detailed information on whether your competitors are expanding (or contracting) a particular line of business. This knowledge is essential for determining whether their behaviours violate your intellectual property or suggest a potential new business venture for your organisation.
4. An understanding of their level of funding for new R&D
Understanding the process used to register patents can be very helpful. And it determines how much money your rival has invested in the new invention. You could assume a low-value patent if a private investor with little legal counsel submitted the innovation. In contrast, if it was a PCT (Patent Cooperation Treaty) filing, you can infer that your opponent values the idea highly.
The Amount Of Litigation
Examining a patent’s litigation history can tell you how much work your rival has put into it. Rigid prosecution may indicate that the business has prioritised this technology. And is prepared to take tremendous measures to safeguard it. This information is required to determine how important the technology is to their particular business sectors.
It is crucial to the business if there is a lot of litigation around the innovation. On the other hand, a lack of legal action may mean that the patent has lapsed. Or that its value is no longer considered necessary.
Although IP research can provide a wealth of information about your competition, it is only possible to cover some things in a single blog post. Some of the most frequently used IP insights for competitive intelligence. That falls under these five categories.
You may master your market’s competitive landscape by constantly reviewing your patent landscaping insights. By efficiently using this information, you’ll be better able to predict such things. That is what your competitors will do next, allowing you to either outsmart them or monitor them carefully as they move forward.
All your past, current, and future IP initiatives are accessible on the premier platform in the industry, Insightloupe, in one secure and manageable repository. Additionally, it consistently compiles data from your existing portfolio. And top competitors, producing logical visualisations and reports that you can use to make tactical business decisions immediately.
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