How Patent Research And Analysis Help In Making Research And Development Decisions

The total number of patents is enhanced with each passing day, covering numerous technological spaces, including various non-conventional segments like software patents, life forms, and business methods. Sometimes patents are also granted for the different types of inventions like beer with an umbrella or diapers for the birds. There are several patents present on the technologies which are dependent on minute alternations of the current process. In these circumstances, it is very significant for the organizations to decide the patent value so that they can take the business decisions like cross collaborations, infringement suit initiations, mergers, advanced research, licensing, joint venture, development programs, and acquisitions.

Conventionally, patent research and analysis are carried out due to the claim of invention analysis by a group or single-subject experts. Sometimes the technological examinations and the patent lawyers’ opinions are also taken into considerations. But these processes include many disadvantages like consistency. Opinions might vary based on the understanding level, patented technology comparison, and business with a large current technological set.

Another vital method of deciding the weaknesses and strengths of the patent is citation analysis. A crucial backward or forward analysis can always predict the patent probability under the considerations for the litigations. The higher the number of backward citations, the higher will be the number of litigations. But suppose the backward citations include more self-citations. In that case, there can be a chance that the specific organization will fix a fence around the questionable patent that will provide the highest strength to it. Where a fewer number of backward citations are present than the forward ones, it will imply that the technology or the product is new and not an improvement of the current technology. Thus the chances of achieving a bigger market value are high.

But the above methods cannot predict the patent value individually or independently. There are three parameters for completing the evaluation of the patent: commercial, legal, and technical. The terms for technical evaluation is dependent on the manufacturing difficulty, degree of solution to a specific problem, importance of business, designing difficulty, and a total number of existing alternative solutions. Some of the legal parameters that are associated with it are infringement purpose detection, invalidity patent document chances, market or commercial value, and the size of the market that you will serve. Nowadays, different automated processes are present to decide the assessment of the patent. Most of the methods are dependent on the three parameters mentioned above. Logically, the method that can simulate more basic parameters of the derived terms can predict more approximation.

How Patent Research And Analysis Will Help In R&D Decisions?

Now let us take a quick look at how competitive landscape research assists in making final decisions for Research and Development:-

1. Evaluate The Market

Proper evaluation of the market is the most significant decision that will determine whether or not to jump into that specific market. In the market evaluation, organizations look into the total number of products or technologies already present in the market and how crowded the place is. Companies also evaluate if there is any white space analysis patent available or not. Organizations should also include the sellers and distributors’ database to know how and where they will be going to sell your product. Also, consider some other significant aspects like in which countries the technology will be successful, what is the future and existing potential of the product, the regulatory norms of the nation, and many more.

2. Conduct A Patent Landscape

Check out what is present in the patent market. There might still be some technologies that need to be patented, while others are already patented. Try to figure out some of the current, past, and future trends. There will be few chances of getting caught if you implement the past technologies. Ensure to keep an eye on future technologies and also the investments that are taking place in those technologies.

Check out if you can find any patent in the small area organization and if the product or technology is still present for licensing. You can check out the merger and acquisition of that enterprise. Doing this research on those companies might reduce the Research and development costs of that organization. Also, examine how the major competitors in the market carry out the advancements in technological areas. Are they generating any revenues or still implementing the old technologies? Have they swiftly switched to the new technologies? Also, check out if any new competitors are planning to come into this market or not.

3. Search The White Spaces And Evaluate Their Costs And Opportunities

Check out how crowded the patent landscape is. How many competitors are already present with how much total number of patents? A larger number of patents will enhance the chances of having a higher number of patent lawsuits with time. Conduct a thorough Freedom to operate search before introducing the product, design, or technology to avoid this risk. You can figure out where the patent is less and how many white spaces are available through proper patent categorization. But keep in mind that the presence of white spaces does not mean that the product will sell. You also figure out the market potential of that specific white space.

Also, check out the SWOT of the patent landscape that will determine which social or environmental factors can affect sturdy advancement in your particular technology. Also, calculate the costs and efforts of the R&D team.

Final Thoughts

Though the automated patent research has numerous advantages, the patents’ significant history under examination might terminate any danger of hidden litigations. Thus it is always better to seek the help of a professional patent analytics company to accomplish this task. So from the perspective of demand and supply, a low-value substantial patent might come up with a gold mine for the inventor in the future.