Using Patent Intelligence to improve Product Development

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Patent intelligence can provide so much more to a skilled business stakeholder, whether in a legal, R&D, strategic or business development role. Patent information can be used to anticipate market entry, understand technical and business white spaces, identify licensing and sales targets, and assess competitor strengths, weaknesses, opportunities and threats, among many other lucrative uses.

Importance of patent intelligence to product development

It has been said that more than 80% of the information in patents cannot be found anywhere else. The importance of patent intelligence to product development therefore can not be overlooked, since patents are a recurring output of the product development process in many industries (and more all the time, as patents become more central to competitive advantage.) Specifically the information available from looking across patent filings provides unique perspectives on:

* Who - Relationships between inventors, companies, attorneys, cited/citing parties
* When - Invention trends, assignment trends, dispute trends, publishing trends, research turnover trends, adoption trends
* Where - Geographic inventor output, geographic assignee output, regional strengths/weaknesses
* How - Approaches, uses, advantages, results of experiments
* Why - Motivations, applications, improvements, opportunities, investments, risks

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