The Gatherer - Volume 9

W e are seeing patent information space. With record number of filings, patent searching is becoming more complex, and ever more critical. Many search tools are available to patent searchers that can provide organisations with essential information for them to make informed decisions as whether to invest further and/or enable them to stay ahead of their competitors and be the first to market. Here we discuss the importance of searching and its impact on achieving a competitive advantage. unprecedented growth in the

THE IMPORTANCE OF SEARCHING AND ITS

Time and money originally directed towards redundant research can be saved A patent search conducted early in the product development stage can identify technical areas completely barred from entry, thereby saving significant expenses and time for unnecessary experimentation and redundant research. A patent search may also unveil a gap or white space in a technology landscape, opening the door for product development and commercialisation into developing or uncrowded areas. The reduction in research and development resources can lead to faster speed to market and better return on investment, especially if being first to market is a key factor. Manufacturing and design improvements may be uncovered, resulting in superior products and processes The patent process can be expensive, so the last thing you want to do is spend a lot of money preparing and filing an application when there is easy to find knock-out prior art that will prevent a patent, or at the very least make any patent that is obtained extremely narrow. A patent search can provide guidance to the “designing around” for a competitive commercial advantage. The search may also identify new manufacturing processes and improve efficiencies of manufacturing operations, saving both time and money. inventor to enable modifications by adding product features or

Conducting a patent search can provide an organisation with an immense amount of technical and competitive information. Patent searching is complex with many tools and patent platforms available for searchers to utilise when navigating the 90+ million published patents. There are many valid reasons to conduct a patent search and the benefits of doing so can be reaped by all, from start-ups through to multinationals. understanding of an organisations IP portfolio in relation to the competitive landscape. The commercial advantages of patent searching can be summarised as follows: –– time and money originally directed towards redundant research can be saved –– manufacturing and design improvements may be uncovered, resulting in superior products and manufacturing processes –– a better understanding of the most cost-effective approach for building and protecting IP is developed –– the risk of infringing by third party patent holders is reduced. Each of these key competitive advantages are described in more detail. Searching published patent information allows for a better

IMPACT ON ACHIEVING A COMPETITIVE ADVANTAGE

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