Patent data produces a treasure trove of market insights, technological trends, and legal references for technologists, engineers, investors, marketers, legal professionals, and executives looking for competitive advantage.
innovation
Knowledge Is Power, If You Know What to Do With It
Recently I wrote about the many innovation styles that I’ve encountered as a consultant in the world of business strategy. Perhaps the most recognizable is the Cowboy or Cowgirl – those people (or companies) that love coming up with a new idea. The excitement is contagious and often leads to immediate action. Invest! Patent! Hire! That full-speed ahead mentality can be immensely rewarding. After all, doesn’t society love the first in line? But jumping quickly into a new idea is not always a sound business strategy and it defies the personal style of many very successful business people.
Cowboy? Builder? Blabber? Do you recognize your Company’s innovation style here?
After working with and mentoring hundreds (maybe thousands) of new and established companies, I’ve noticed that they typically fall into predicable groups. I decided to share these groups with you to see how well they stack up against your perspective.
Inking outside of the box
Surely you have heard of Inky the Octopus? A captive guest at the National Aquarium of New Zealand, Inky became a celebrity by making a daring jailbreak from his watery confinement. About the size of a football, Inky took advantage of a slight opening of the lid at the top of his tank one night several months ago. How long had he dreamed and plotted for such an opportunity?
Recognizing Opportunity is the First Step for First Time Innovators
Failing to recognize innovation and the opportunity it can bring is a major reason some businesses never launch. Plus, the inability to recognize innovation when it’s staring us in the face may also imply that we won’t be able to recognize failure points along its lifespan. Spotting potentially lucrative and game changing innovation can be difficult even when we hear about it or see it in person. Often the inventors themselves don’t always recognize the opportunities that might result from their ideas.
Can You Recognize Pitfalls Before They Happen?
It is important for every entrepreneur, investor and yes — inventor — to take one step back and look impartially at the risk factors associated with today’s great new idea before moving forward. And, once started, paying attention to challenges and negative feedback can make or break a project’s success. One of the most tragic recent examples occurred in Flint, Michigan, where its water supply is contaminated with lead, believed to be harming children’s developing brains and nervous systems.
5 Innovation Clues from Patent Analytics
Loyal readers (and anyone caught in an elevator with me) already know my passion for Patent Analysis. Inventors, entrepreneurs and other innovators should pay close attention as the process is low risk and the results are always educational. As a quick recap, Patent Analysis takes statistical advantage of the roughly 5 million patent applications and granted patents being published around the world annually
Playing Robot Games: What’s Ahead?
Did you catch the grand finale of the TV show “BattleBots”? I wouldn’t have missed those whirling, fire-spewing, armored fights to the death! These latest technology-infused games are a far cry from my 1970s era Rock ‘Em Sock ‘Em Robots® and the contrast got me thinking about where robots and entertainment are headed next. Let’s take a quick peek at the history of robotic entertainment to see whether it has fueled any innovation. Can we predict the future marketplace? (Hint: I think the key might be the level of human interaction.)
5 Ways Big Companies Stay Ahead of Their Competitors (Including You)
What do big companies have in their R&D toolbox that smaller companies often overlook? Competitive intelligence – what some might call snooping on the competition. Competitive intelligence research is a powerful strategy for any size company, so it pays to know more about your options. In the latest issue of Texas CEO Magazine, Steve Pearson, founder of The Pearson Strategy Group, reveals five strategies that can be used by companies of any size. He also explains how acting without research can open the door to poorly executed innovation, expensive strategy missteps, unrecovered R&D costs, risk or legal entanglements.
Millions in Mistakes: Stubborn Radio-TV Stand-off Cost CEOs, Delayed “Gilligan’s Island”
This week I saw an interesting television show “Farnsworth vs. Sarnoff” about the invention of the modern version of television, one that’s all electrical. It was a David versus Goliath story that made me want to cheer for the underdog…in my mind at least. Like many, I had heard about Robert Kearns who invented and patented the delay system for windshield wipers, but ended up in court fighting for money owed to him. However, this was the first time I heard that television also had a contentious start. The show talked about Philo Farnsworth as the inventor of modern television. He had conceived the critical portions of television when he was only 14, built the first functional TV system at 21 (1927) and had 165 patents to his name when he died. [1] All incredible accomplishments to be sure.