No comprehensive business strategy is complete without insights into their customers, their sales funnel, industry insights, and information about their competitors. While some of this information may come internally, much of it comes from competitive intelligence data, and patent landscape reports.
Patent landscape reports are a critical, yet commonly overlooked, piece of the predictive decision-making puzzle. In this blog, we dive into information about your patent portfolio, assets and competitors. Specifically, to your competitors, the information surrounding registered patents can provide insights into what innovations they are protecting, what technology supports their business, and most critically, what direction they could be taking in the future. Routinely searching through other companies’ registered patent information can also alert you of future acquisitional and licensing opportunities.
Having the information to will help you gain insights and the competitive edge in the market, including what steps you need to take to maintain your status as the industry leader.
Five Ways Patent Landscape Data Helps Create a Well-Rounded Business Strategy
Leveraging the power of enhanced AI and a team of global IP experts, we’ve developed Insightloupe to house and manage all your company’s past, present, and future patent projects.
With the ability to efficiently analyze the data, Insightloupe’s patent analytics enhance your business intelligence across the following areas:
1. Liability Mitigation
It’s imperative to know if your organization is holding onto outdated patents, protecting technology that has since been rendered obsolete or maintaining assets that aren’t useful anymore. Regularly monitoring your portfolio helps identify patents no longer worth holding on to, using it’s intuitive data visualization tools, and chart keeping. This helps optimize your portfolio’s cost by allowing you to purge unutilized patents.
2. Areas of Infringement
Patent landscapes allow you to identify “clusters” of patents forming around your core IP. This indicates that a competitor is looking to move in on your territory or is already infringing on your IP, enabling you to decide on whether to open litigation and block them from using your technology or inviting them to an out-licensing opportunity.
3. Licensing Opportunities
While evaluating your portfolio and competitive intelligence you can identify organizations that could be a great target to reach out to for a licensing opportunity. Whether it’s a start–up and your technology could help their offering or a well-seasoned company whose technology may be aging out, both examples could provide excellent licensing opportunities and a great potential for additional revenue.
4. Research & Development
As you map your patents and assets over time, you’ll be able to identify market trends and potential “white space” for your technology to expand into. As markets evolve, new insights into future needs are identified. With accurate mapping data to fuel your predictive decision–making, your company can fill those needs.
5. Mergers and Acquisitions
Accurate mapping and thorough examination help R&D professionals identify potential opportunities for their company to either merge with or acquire. Patent mapping allows you to evaluate the target organization’s patents to determine how well their existing patents align with or boost your portfolio.
Insightloupe is a standout solution that combines all the intellectual property information you need to make well-rounded business intelligence decisions. Whether you’re in need of enhanced portfolio management or total business insights, Insightloupe answers the call.
If you’re looking to amplify your business strategy with enhanced IP insights fill out the form below and someone will be in contact with you to get started or learn more about it here.