Patent Search helps to determine the relevance of an invention in light of the existing art. A patent search is pivotal for companies and researchers to define their IP strategies, identifying potential blocking patents before entering a market, determine state of the art, and locating potential infringers to exploit their portfolios to earn profits.
Some of the benefits of a patent search are:
- Saves from Reinventing the Wheel Every Time:
The patent search helps to find other documents which already teaches about the inventor’s idea/invention, and thus saves the inventor countless hours of efforts and money to pursue his/her idea by finding that the ideas being pursued is already known.
- Provide Confidence to File a Patent Application:
Patent search allows one to be almost certain about a novelty of an invention, when no prior art is found. So, the inventor may proceed confidently to file his/her invention as patent application in the Patent Office.
- Better Now Than Later:
Prior art found in the patent search can be helpful to amended the claims at the first place while drafting the patent application, and thereby avoiding the risk of a rejection made using the reference during the prosecution of the patent by the examiner in the patent office. The found art can also be submitted to the patent office in in the “Information Disclosure Statement (IDS)” so that it can be made of record.
- Avert Crisis:
A thorough freedom to operate or prior art search reveals inventors/corporations who have the patent(s) which could block your product from entering a particular market. Thus, the patent search provides opportunities to approach such inventors/corporations for pre-filing licensing and collaborating in future product development and marketing.
- Finding Potential Revenue Streams:
A patent search helps to identify potential infringers of your patent portfolio. The inventor or the business may act on such information to prosecute the identified infringer to claim damages or find avenues to get royalties for use of their patents. In other words, a patent search helps to evaluate the potential of a patent portfolio.
- Finding Untapped Resources: A landscape study could reveal some of the patents the applicant already owns in his or her portfolio that might be licensed to particular companies to generate some profits.
- Promote New Collaboration: The patent search helps to identify other researchers who are especially successful in areas of research that interests you. Thus, it provides opportunities to makes it possible to reach out to them for collaboration.