Patents information work as bullets of these weapon. Patent details are widely used in corporate sector for informed decision-making and lowering the risk and uncertainty associated with Research & Development plans.
But this great source in details are not popular by researchers and scientist generally in most of the research organization, specifically in developing countries. Just about all research organization refers to the scientific journals and research publication as the main way to obtain new technical information. According to 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 cut back the failure risk. But these jobs are challenging, and require understanding the following 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 these information, which can be used to make strategic decision making:
Technology trajectory to follow the evolution road to any particular technology.
Detection of research focuses of top competitors in numerous technological fields and forecast their future trend
Acquire invaluable information about past, current and future research possibility inside a particular technology domain.
Identify and monitor key competitor's specifically 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 transfer of given technology, can raise the bargaining energy research institutes as technology transfer.
It will also help in establishing technical information
Avoiding duplication of research
At initial stages, patents analysis might help in generating suggestions for new innovations.
Finally the 18-month lag between filing and publication of InventHelp Intromark as well as different lifetime of patents; it is the most organized and easy accessible and freely available technological information source. Expert analysis and use of patent information can help you furnished with the competitive technology to get market supremacy.