Patents information behave as bullets because of these weapon. Patent information is widely getting used in corporate sector for informed decision-making and lowering the risk and uncertainty associated with Research & Development plans.
However this great source in facts are not traditionally used by researchers and scientist in many with the research organization, especially in developing countries. Almost all research organization refers back to the scientific journals and research publication since the main source of new technical information. Based on which their project plan and all sorts of other task depends. Thus, intelligent selection and prioritization of studies, in addition to long lasting tactics framework is vital to reduce the failure risk. But these tasks are not easy, and need knowledge of the next fields of technology management: technology identification, distinguish among present, part and future technology, technology forecasting, technology assessment, technology monitoring and technology mapping. These details could be further employed for the formulation of technology strategy.
Patent analyzing can reveal the next information, that you can use in making strategic selection:
Technology trajectory in order to the evolution path of any particular technology.
Detection of research focuses of top competitors in different technological fields and forecast their future trend
Acquire invaluable information about past, current and future research possibility in the particular technology domain.
Identify and monitor key competitor's particularly technical field, to predict future research trends and identify technology gaps in new fields.
Identification of potential licensors with technologies of interests.
Analyzing technical and legal information of related patents, before triggering the negotiation process to change in given technology, can boost the bargaining energy research institutes as technology transfer.
It can benefit in acquiring technical information
Avoiding duplication of research
At initial stages, patents analysis might help in generating ideas for new innovations.
Finally perhaps the 18-month lag between filing and publication of InventHelp invention ideas as well as different time of patents; it is the most organized and straightforward accessible and freely available technological information source. Expert analysis and employ of patent information can assist you equipped with the competitive technology to gain market supremacy.