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Intelligent use of IP assets helps companies meet the challenges, and stay competitive in the ever evolving market place. And in addition to offering a look at the track of technology, no competitive analysis is comprehensive without a patent landscape.
What is the importance of patent landscape?
A patent landscape will provide you a complete list of current and future competitors along with an insight into your competitors' strategic course of action, including future products and offerings. It can also help you in identifying opportunities for your research and development; investments, clarify the relative strength of your patent holdings and find out potential targets for acquisitions or strategic partnerships. This research is mainly conducted by patent law experts working in the field patent filing in India and conducting the patent search.
Patent landscape is mainly done on behalf of companies that are seeking to develop new products in a particular area. The information gathered is used to help companies develop business plans strategies. This research can help companies minimize risks by focusing on areas that do not contain a lot of patents and identify areas for future growth.
What does the landscape report contain?
The report will contain information whether your competitors are patenting in the same area or conducting research like yours or not. The report will also have information on any new entrants to the market in your area and whether there are any patents pending similar to your outstanding or upcoming patents. Remember, the patent landscape is not an exhaustive list of patents; instead, it contains a picture of the situation at a particular time.
As a company that wants to get your patent approved, the information will give you the information about how likely you will get a patent approved. It helps you to understand the intellectual property risks involved in the research. There are many more benefits which your service provider will let you know.
Why hire an expert for patent landscape?
It is always recommended to hire experts because they have the legal knowledge, and technical and industry experience to accurately survey the patent landscape. Our tried and tested analysis can help reduce overall costs by identifying potential competing problems early so that you can take effective steps.
As said, a patent landscape is a vital element in a business strategy. The result is significant and provides thorough information on which you can confidently base your tactical business decisions.
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