Conventionally, a patent search is used to determine whether your invention is worth protecting. If no one has patented anything like it, you keep going, developing and refining the concept into a commercial product and even filing your own patent application.\u00a0 If someone has already filed a patent application for a similar idea, then you either drop your idea, work out how to improve it, or, more riskily, keep going with it.<\/p>\n
Completing a patent search usually identifies specific inventions developed by other parties. This is hugely important and is why patent searching needs to be conducted. But an examination of existing patents can also deliver valuable insights into the activity of your competitors, R&D trends and provide marketing guidance. \u00a0Patent data is a veritable treasure trove of detail that could significantly benefit your business.<\/p>\n
A patent is effectively an instruction manual for a technological innovation. When granted, it provides a monopoly right to the inventor of the new technology for up to 20 years.\u00a0 In return, the inventor describes how to implement the idea or invention and this information is published and made available to the public.<\/p>\n
There are around 82 million patents residing in databases worldwide.\u00a0 Collectively, they describe a fascinating array of clever, remarkable and often valuable solutions to technical and scientific problems, and who invented them.<\/p>\n
While many patents are no longer enforceable and\/or were never commercialised, the information contained in them remains free to use.<\/p>\n
Even if a patent is in force, this doesn\u2019t mean you can\u2019t use the information it contains. Patents are territorial rights so protection exists only in the countries for which patent applications have been filed and granted. If a patent isn\u2019t filed in a particular country, the invention it describes is free for anyone in that country to use.<\/p>\n
But what insights can an examination of patents bring?<\/p>\n
An understanding of what patents have been filed can provide valuable insights to competitors\u2019 current and future products and services. You can identify areas of technological or R&D focus which can illustrate what your potential competitors see as their competitive advantage or what direction they may be heading in. This information can help validate your own R&D pathway or suggest new directions. For example, if you were in the smart phone business you might be interested to know that Apple Inc. was recently granted a patent for a folding iPhone.<\/p>\n
Information on where patents are being filed can also highlight what markets your competitors consider important and where their business activities are likely to focus.<\/p>\n
A patent search can also identify new players in the market and what markets are new.\u00a0 If there are a lot of patent filings in a certain technology area, it\u2019s a fair bet there is an important reason why. For example, drone patents have grown exponentially, as have patents for AI and machine learning technologies.<\/p>\n
Patents aren\u2019t just about what a company is currently doing. They can also signal what they\u2019re contemplating doing or where they see threats or opportunities.\u00a0 For example, Tesla filed a patent for camouflaging solar tiles, indicating a vision that goes beyond electric cars and rockets into the arena of solar energy.<\/p>\n
But doing business isn\u2019t just about taking on competitors in an \u201cus versus them\u201d way. What about collaboration opportunities? A patent search can reveal potential partners operating in similar or adjacent technology areas that are complementary to your business.\u00a0 For example, you may find that, while someone has come up with (and patented) a similar idea to you, they failed to commercialise it (for whatever reason) or didn\u2019t see its commercial potential. That raises the possibility of leveraging their work through a partnership, and quite possibly saving you from the cost and time of needless R&D.<\/p>\n
Innovators are often unsure of when to conduct patent searching. Do you go looking when the idea is still just an idea? Or wait until you\u2019ve carried out all the R&D, built it, and it\u2019s almost ready to market?<\/p>\n
Generally speaking, the earlier you search, the better as the insights gained can be used to guide your own R&D, shape your commercial strategy, and identify infringement risks. Being forewarned about issues or opportunities is being forearmed.<\/p>\n
It is also a good idea to regularly re-visit patent searching as the idea develops, to ensure that your understanding of the landscape remains valid and no new issues arise.<\/p>\n
Having derived a body of market intel from your patent search, how do you act on it?<\/p>\n
What you\u2019ve learnt should enable you to make better business decisions and plan:<\/p>\n
Carrying out comprehensive patent searching is a time-consuming and challenging task. It is important to employ skilled patent search specialists to do it.\u00a0 This will save you time and money. The search experts understand how patent documents are drafted and have experience in interpreting the documents from a legal, technical and business perspective.<\/p>\n
Patents are often viewed as very legal, technical and dry documents to assess, but businesses wishing to derive as much market intelligence as they can from readily available sources would do well to lift the lid wide open on the patents treasure chest and appreciate the commercial jewels hidden inside.<\/p>\n
James & Wells offers a range of bespoke searching solutions to manage and reduce risk, optimise R&D, identify opportunities, monitor competition and facilitate innovation.\u00a0\u00a0For more information, read our \u2018Patent searching and innovation and insight reports\u2019 website page or contact us.<\/p>\n","protected":false},"excerpt":{"rendered":"
Patent searching can reveal valuable insights to guide the future direction of your business Conventionally, a patent search is used to determine whether your invention is worth protecting. If no one has patented anything like it, you keep going, developing and refining the concept into a commercial product and even filing your own patent application.\u00a0…<\/p>\n","protected":false},"author":8,"featured_media":571,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[80,62],"class_list":["post-1498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-innovation","category-patents","insight-resource-articles"],"acf":[],"yoast_head":"\n