Intellectual property is a significant driver of competitiveness and growth, in both the private and public sectors. In our current environment, where an invention can secure the viability of a company for several decades, or maintain strategic advantages on the world stage, it’s critical for public and private entities to have a clear view into the global patent landscape.
With the volume of global patent data now available in extensive, disparate databases around the world, it can be challenging to create that clear view. Working with a third-party data provider can help you cut through the noise and focus on the information that truly matters by aggregating patent data and providing tools to help you sort, visualize and analyze patent data based on your specific requirements.
Analyzing innovation and patent trends. Developing a perspective on current intellectual property (IP) trends will help you understand innovations made at home, and overseas, which can present opportunities for near-term greenfield and brownfield projects.
Benchmarking against competitors. Comparing and tracking patent portfolios is important to understanding your competitors’ patent composition and value, which can help you identify future partnerships and reduce the risk of infringement.
Scanning the technology horizon. Understanding trends and threats many years out will assist you in gaining insight into how innovations are developing over time, which can help you plan for future organic and inorganic investment.
Ensuring interoperability of Data. To reduce the time and expense of mapping patent data to entity and ownership information, it’s important to ensure information is linked to help you quickly build, refine and filter searches based on criteria you’ve defined.
Michael Kathan, Santhosh Metri and Beau Richardson talk about the importance of third-party data in helping public and private entities perform patent research and analysis more efficiently and effectively.