A Comprehensive Guide On Patent Analytics

A patent is a type of intellectual property right that allows the creator/owner exclusive rights over their products and services. Patents recognize the original creation of an individual, institution, or organizationIntellectual property rights promote innovation by providing the innovators and creators with security and ownership over their services, technology, and ideas.

 

What is Patent Analytics?

Patent analytics is a term used to describe the process used to carry patent search and data mining. It also includes activities such as patentability search, prior art search, state of the art search, validity search, and novelty search. Patent analytics includes intensive research on existing patents or inventions. Patent analytics is carried out to understand the patentability of an invention before deciding to go ahead with patent filing.

Patent analytics when done by experts can help a business or person to understand the strength of their patents. It is very important before you patent an idea to find out any loopholes in the research process and eliminate them to be able to protect it under patent law.

 

The purpose of Patent Analytics

  • Businesses use patent analytics to help their organization evaluate their patent portfolio.
  • Patent analytics can also help in SWOT analysis which includes the components of strengths, weaknesses, opportunities, and threats. Using techniques of patent analyticsbusinesses can make informed decisions about licensing and acquisition of new technologies.
  • External analytics can help businesses assess their competition and the advanced technologies that they are using.
  • Businesses that enter a new technology often use business analytics to understand the market trends about products before investing.
  • A business that plans to increase their research and development efforts use patent analytics services to understand how effective is the research and then be able to build a strong and profitable patent portfolio.
  • Patent analytics can be used to identify new applications of existing patents.
  • Patent analytics can also be used to identify new potential patent applications for already existing patents.

 

Benefits of patent analytics in building effective business strategies.

 

Use of patent analytics for analyzing portfolio

To stay ahead of the competition company or business can analyze its portfolio and understand its strength and weaknesses to be able to make well-informed decisions.

 

Use of patent analytics to analyze the competition

Patent analytics can be used to compare the portfolio of your company with that of your competitors to gain insight into new product patents and design patents. Thus being able to incorporate practices that work for your competitors.

 

Use of patent analytics for technology evaluation

Using analytics tools, businesses can gain information about the latest trends and technology ruling the market space and make better decisions about their management. The information gathered through patent analytics can help with licensing and mergers.

 

Patent analytics can also be used in cost and budget analytics

For any business, budgeting is very crucial. It provides information about the costs that are incurred during patent prosecution. Using this information companies can analyze how to efficiently budget.

 

Conclusion-

Patentskart provides best-in-class services in the analysis of technology and intellectual property and patent-related information. Some of the services offered by Patentskart are:

  • Technology Landscape that allows businesses to understand the technology and how effective it is before investing.
  • Whitespaces analysis to identify gaps in technology space that have no patenting activity and can be used to find new growth opportunities
  • Competitor landscape to understand about  your competitors  in the market so that you can prepare a unique portfolio for your company that helps your company to grow
  • Portfolio management servicesto assess the strengths and weaknesses of your portfolio and improve it accordingly.
  • The patent watch allows you to track your competitors and new product patents and design patents and their activity in the IP domain.Through this service, you can keep track of all the patents filings by your competitors that are submitted at regular intervals of time.
  • IP due diligence can help your business to assess the quantity and quality of IP assets.Due diligence can help to strengthen your portfolio and also understand the associated risks and benefits.

 

Patentskart caters to all your IP needs in one place and provides you with the best services that help you to grow your business.

Leave a comment

Your email address will not be published. Required fields are marked *

Recent Posts

Ethical and Legal Implications in Patenting Human Augmentation Technologies

Navigating the Patent Paradox: Balancing Innovation and Monopoly

Cosmetics and the Struggle to Obtain Patents on Natural Ingredients

A Complete Guide to Using SEP Dashboard for Strategic Advantage

Understanding the Role of the Patent Trial and Appeal Board (PTAB) in Intellectual Property Protection

Comparing Design Patent Terms Across the Globe: How Long They Last in Different Nations

Navigating Patent Eligibility in the Tech Age: Section 101 and Software Patents

Can I be sued for unintentional patent infringement?

What to do When a Giant Corporation Tries to Steal Your Intellectual Property

Navigating the Maze of Inventorship: Who Holds the Key to Your Patents?

Don’t Forget to Consider These Five Things Before Filing a Patent

Common Pitfalls to Avoid While Conducting Freedom to Operate (FTO) Searches

The Future of Patent Research Services: Emerging Trends and Innovations to Watch Out for

The Advantages of Electing a Unitary Patent for European Inventions

Navigating Third-Party Intellectual Property: Ensuring Freedom to Operate

What is SEP Pooling & patent consortia? How do they complement each other?

Standard Essential Patents: The Myths and Realities of Standard Implementation

Beyond Legal Considerations: Ethical Implications of Balancing SEPs and IP Rights

How to Avoid Standard Essential Patents (SEPs) Litigation?

Are All Standard Essential Patents (SEPs) Actually Essential?

What Role Does FRAND Play in Standard Essential Patent Licensing?

How does outsourcing patent prosecution Can Benefit Law Firms and Corporates?

How Patent Analytics Can Help You Maximize Your IP Strategy

Four reasons why business owners might not want to apply for a patent right away

How standard essential patents (SEPs) are used to protect innovation and competition in the tech industry?

Why You Should Keep Track of Intellectual Property Metadata?

How Using a Negative Claim Restriction Can Be a Positive Patent Strategy?

Where Can I Identify Relevant Patents Using Non-Patent Literature?

What is the Punishment for Patent Infringement?

Can You Steal an Abandoned Patent?

What Happens When A Patent Is Invalidated?

How to Avoid Intellectual Property Infringement?

5 Best Practices for Patent Portfolio Management

How to Invalidate a Patent in 10 Easy Steps

How to Monetize Your IP?

How to safeguard your IP in the metaverse?

Defending Against Infringement Claims with Patent Invalidation

Patent Invalidation or Validation Search

Advantages of Competitive Landscape Analysis

Taming Patent White Space Analysis

How to Patent Your Invention: Patent Landscaping

How Lifi Technology is Transforming Wireless Internet

Artificial Intelligence- The Future of Innovation

How will the metaverse unfold and transform enterprises? Everything you need to know

Will a biosimilar work the same as the original product? Facts you may not know

Which is a Better Approach for Protecting Your Innovation – Patents or Trade Secrets?

How to Adopt Patent Monitoring Services to Track The Patent Filings Of The Competitors

What‌ ‌are‌ ‌the Essential ‌Questions‌ ‌to‌ ‌Ask‌ ‌a‌ ‌Patent‌ ‌Attorney‌ ‌about‌ ‌Legal‌ ‌Expenses‌ ‌and‌ ‌Intellectual‌ ‌Property?‌

Why Intellectual Property Audits are Essential for Businesses?

A Perfect Guide To Protecting Your Neural Networks and Machine Learning Inventions

Guide To Patenting Your Product- How To Conduct A Patentability Search

Hiring a Patent Licensing Professional is Extra Beneficial for your Invention. How?

Challenges which are Posing a Threat to Inventors in Intellectual Property

A Comprehensive Guide On Patent Analytics

Importance, Purpose, Processes and Methods of Patent Claim Charts and Construction

Patent Prior Art Search and 4 Quick Ways to do it

Does Your Organization Have an Intellectual Property Vision?

The Complete Guide to Patent Licensing

Importance of Patents in the Pharmaceutical Industry

Patents Guide and the Patent Process Explained in Simple Terms

5 Tips on How to Patent Your Research

How to Get a Patent & How much will it cost to get a patent?: Everything You Need to Know

Patent Due Diligence — Have You Covered All Your Bases?

How do startups influence the industrial market and why you should keep a track of it?

Patent Strategy: Boosting New Business Opportunities

Supporting Entrepreneurship And Innovation Through Tech-enabled Lawyers of the Future

Integrating Traditional IP Rights and Open Access Initiatives

Breaking the common confusions among Patent Agents and Patent Attorneys

Is your Patent Prosecution Support as effective as it could be?

How to Find Your Business’s White Space Opportunities

A Framework to Extract ROI from Your Patent Portfolio

How Competitive Landscape Analysis can Lead to an Effective R&D Strategy?

Why Vaccine patents are a contentious issue?

Electric Cars – leading our way to a better future

6g Technology VS 5g A Perfect time to lock Your Patent

The dawn of Artificial intelligence and Intellectual Property System

Automotive Cars: A Self driving Future

HR Analytics

Coronavirus Treatment : Prospective Vaccines / Drugs

ABC: All About Covid-19

The New Normal

The New 5G Technology Wave

The World of IoT Sensors

Unleash the Power of your Diverse Portfolio and Size Up Revenues