What is a patent landscape analysis?
Patent landscape analysis is a step-by-step procedure for researching an existing technology and marketing trends in a particular domain. It offers valuable insights into innovations or patent data that contains business, scientific, and technological trends. As a result, it is focused on a specific technology both at the national and global level. The patent landscape report includes technical analytics used by startups, large corporations, research institutions, and firms for prospective product development and technology investment. It is also known as patent mapping.
It also aids in the understanding of policy decisions, strategic planning, R&D, and technology transfer. They are also useful in determining the legal status of patents to determine their validity. The World Intellectual Property Organization (WIPO) specifies a format for framing a patent landscape. A report may also include 3D maps, charts, and other graphical elements. Artificial intelligence is now increasingly being used in the process.
Is Patent Landscape Analysis beneficial?
Yes, the patent landscape analysis is an outstanding way for experts from various company fields to understand and make key business decisions. As a result, the analysis assists the company in improving inter-departmental coordination. The benefits of patent landscape analysis are as follows:
- Patent landscape analysis assists in gaining up-to-date knowledge on current trends. Complete understanding of important details about innovation and technology aids in making sound decisions.
- Development teams and thought leaders identify the technology’s key stakeholders. Such information has enormous potential for identifying prospective acquisition partners, licensing opportunities, competitors, suppliers, and target customer groups.
- It aids in making critical financial decisions such as whether to outsource or develop technology in-house.
- The patent landscape is a popular and effective tool used by legal teams to learn about the relationship between competing products by conducting a competitive landscape analysis and patent protection.
- Competitive landscape analysis is used by business analysts and product investors to identify risks and opportunities associated with competitive R&D. It also aids in the development of a long-term growth strategy.
- It is also useful to know which companies are investing money in patent filings and in which categories.
As a result, comparing the spending and investments of various players on research and development in various categories such as products, technology, and applications becomes easier.
- The patent landscape analysis is used by the human resources department to find the best innovators.
- At the moment, the rate of patent filings is at an all-time high. The majority of the information contained in patents is not available elsewhere because it has not been published. As a result, patents serve as a window into the world’s potential ideas, technical product development, innovations, firms, corporations, and research institutions.
Why is patent landscape analysis so important?
Patent landscape analysis is no longer optional; rather, it is essential for maximizing a company’s potential and investment. The info derived from the patent landscape analysis is useful, as it helps to:
- Reduce redundant searches
- Determine M&A targets
- Create new in-house technology
- Recognize licensing objectives
- Improve the capacity of the company’s R&D
- Improve the time to commercialization
- Set the right course for future R&D efforts
- Create a comprehensive IP roadmap with strategies
- Reduce spending on duplicative and unnecessary technology
- Avoid legal risks and protects the company from defensive lawsuits
- Prepare better before entering a new technological domain
Our methodology on how to do a landscape analysis
XLSCOUT’s AI-powered patent analytics tools leverage explainable AI-based technologies to help businesses discover relevant technical information quickly. With XLSCOUT, it is ever so easier now to compare and analyze technology trends over time. With easy access to graphical dashboards and insightful patent landscape analysis reports, you can now view and compare the latest trends in a particular technology and identify the changes in competitor strategies.
XLSCOUT’s Techscaper, with just a few clicks creates a patent landscape report tailored to your needs. It assists you in resolving data discrepancy woes by offering clean and accurate data. Our data engineering team works diligently to clean and enhance various data points, such as priority data, assignee data, family data, translations, etc., to deliver excellent data quality.
We also provide an ‘Assignee Cluster’ feature which provides users an option to combine various subsidiaries and name variations of a particular company into a single cluster for better analysis.