Most cases Business Executives are gung-ho about gathering Competitive Intelligence. Is it a cure all? Answer is clear “No“. Why?
It is because Competitive Intelligence is more than analyzing competitors – as it is about your organization and making it more competitive with respect to (in light of) customers, competitors and technologies. Leverage Competitive Intelligence to “safeguard against Market threats and Changes“, “find new opportunities & trends” and “identify risks and opportunities“. Also, you can:
- Identify Competitive landscape
- Identify indirect threats
- Analyze disruptive technologies in competitor’s patent portfolio or patent filing trends
Let’s elaborate each of these aspects.
Identify Competitive landscape – Get a perspective on who are the key players, what’s their uniqueness, what’s the patent portfolio, which technology landscape are they dominant or emerging as potential players. For example, Eli Lilly has seen huge opportunity in “Animal healthcare segment” and has made strategic investments in acquiring IP portfolio as well as gaining significant market share.
Sanofi could not get enough patent approvals. So, they adopted ” IP / Patent Acquisition ” strategy in emerging as potential big players in Animal Healthcare market. Its animal health division, Merial, captured about 13% of the global market – and has put itself in a position of strength to grow further.
Takeaway – Competitive (IP) Intelligence is more than analyzing competitors. It is about your organization & making it more competitive with respect to customers, competitors and technologies.
About VajraSoft Inc. – VajraSoft Inc. is Intellectual Property (IP) Management Software company, helping customers manage innovations and monetize IP’s. Our award winning products empower businesses and IP law firms to automate the patent filing cost estimation process of creating cost estimation quotes for filing a patent in any country globally. VajraSoft Inc. PatFolio helps customers with Invention Disclosures Management, Drafting Patent Applications, filing, managing patent prosecution life cycle and patent maintenance.
VajraSoft Inc. is Master Class IP Solution provider, and its products won several Cloud awards including – UP Start Awards for Best Industry Application for 2012. CIO Review magazine selected VajraSoft Inc. as 100 Most promising Big Data companies for 2014. Silicon India magazine listed VajraSoft Inc. as Top 100 Technology companies in US for 2013. VajraSoft Inc. is also Finalist of StartmeupHK Venture Program, conducted by the Govt. of Hong Kong and UP Start Cloud Award for Best BI / Analytics Application for 2013.
VajraSoft Inc. Pintels – Patent Intelligence Systems – BioPharMed IP Intelligence is most comprehensive competitive IP Intelligence provisioning application. Pintels delivers Intelligence Analytics on Demand. A unique aspect of Pintels is that it offers end-to-end intelligence analytics – starting from IP / Patent Intelligence, to products to it’s Market intelligence including the post-market performance, safety intelligence, Adverse Event reports, Medication error reports, Patient Outcomes and Drug Master Files information.