New research-based innovation is getting increasingly costly, particularly in the pharmaceutical industry. It is a significant loss if, after investing a significant amount of money and time, one cannot market their innovation due to unanticipated issues with third-party patents. As a result, most innovative and research-driven firms have begun outsourcing patent landscape studies for their future research plans to facilitate the monetization of new research discoveries. Patent landscaping is a comprehensive examination of data gathered from a certain technical domain. This data includes the technology’s historical and current position in the market and future insights, associated IP information, competitive intelligence, and technology transfer. To achieve greater effects, patent landscaping should be done properly.
Steps To Conduct Patent landscape Analysis
Determine the Goal
The first step in patent landscape analysis is to understand why you’re doing it in the first place. The purpose of the analysis should be to utilize input from all departments (business development, marketing, HR, R&D, and legal). The analysis begins after the major areas of the search and its goal has been determined.
Data Search and Filtering
The goal of landscape analysis is to look at all of the departments and their present state. A search is conducted in patents, literature, and other market-related materials to filter all relevant results. The process continues until only linked papers create a landscape. Because the remainder of the process is dependent on the quality of the search result, it is critical.
Data Cleaning and Normalization
The technical criteria behind the aim of the analysis should match the filtered search result. To increase the accuracy of the data, it is cleansed further. A patent analyst might choose outcomes that are in line with the analysis goals set forth by several departments. Normalizing the data can aid in a better understanding of the list of firms operating in a certain sector, their portfolio, the researchers that work for them, and collaborations or partnerships between them.
Patent specialists from relevant technological domains will categorize the patents into several groups. The categories used will be determined by the aim of the patent landscape analysis. Products, markets, consumer benefits, creators, technology, and ranking are some of the most often fixed categories.
Analyzing the Problem
Tables, graphs, charts, and patent mapping visualizations show the aggregated and classified data in graphical forms. Clear presentations will be a useful tool in the patent landscape research process, adding significant meaning to it. In addition, when the images are referred to in the future, they must be simple to understand.
Analyses Are Being Monitored and Updated
It takes a long time to set up the foundation for patent landscape analysis. However, once completed, this study may be revisited and modified monthly or quarterly depending on new inventions. Monitoring and updating newer innovations into the appropriate category is critical for the analysis to remain fruitful.
When completed, patent landscape analysis is a single procedure that may assist all divisions in a business enterprise. To remain ahead of the competition and make sound marketing, R&D, and patenting decisions, every firm must take advantage of the copious patent information accessible.
As a result, professional patent expert teams may always work on patent mapping, assisting you in making the correct judgments and increasing revenues in your organization.
Why Choose The Patent Search Firm?
The Patent Search Firm has been in operation for more than a decade. It has a reputation in the business for conducting the best research. As a result, TPSF assists you in making rapid and confident IP and commercial decisions. The company has 10+ years of expertise in the industry, 350+ full-time searchers, and experts from 30+ tech areas, and performs roughly 45+ patent landscapes per month. The company offers extremely cost-effective and simple services, as well as quick delivery of findings. It will also assist you in obtaining full patent analytics and IP insights so that you can keep one step ahead of your competition in a technical subject.
To make an inquiry, visit The Patent Search Firm Website.