One of the key reasons for having Competitive IP Intelligence as a tool is to stay ahead of your competition. Other critical aspect is to mitigate risks.
What to look for?
Look into competitors objectives, strategies, IP’s / patents, patent families, overall patent portfolio, technology landscape, products and capabilities and Market performance.
Make a controlled dissemination of actionable intelligence for decision-making.
Identify and analyze Patent portfolios to mitigate your risks – identify Freedom to Operate.
Based on the facts on ground, formulate IP Acquisition strategies
- What your competitors are able to accomplish
- What issues your competitors are dealing with Products & Markets
- What your competitors believe and invested
- Your competitor’s future goals – analyze and infer the patent families of competitors and analyze where they are heading
Analyze Patent Families to evaluate strengths and weakness of competitors.
Patent Litigation – Keep an eye on all litigation to assess weaknesses, claims, issues and potential infringements.
Assess competitors Offensive, defensive patent strategies. Also, take the Patent Legal status of the applications into account, including the “pending” patent application to assess the patent family pipeline.
- Know of the latest advancements
- Explore the alternative options for designing – Evolve work around strategies
- Determine the future R&D focus
- Venture into a particular technology
- Influence LCM – Life Cycle Management strategies
Takeaway – Adopt Competitive (IP) Intelligence as a tool and stay ahead of competition and improve stakeholder value.
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. 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.