Most of the worldwide patenting authorities default at publishing utility patent applications at 18 months. Patent attorney Andrew Eisenberg’s thoughts here on the “not to publish” option for U.S. patent applications are important since using this option will delay the date of publication for an additional 1-3 years – and only if the patent issues. This significantly ups the ante for you to stay abreast of your competition and the state of the art with Patent Alerts being an important line of defense.
competitive intelligence
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.
Business Owner Due Diligence on Your Competition
Prep Work May Not be Exciting, but it Guarantees a Better Result. Yes, boring! But as crucial to your business success as prep work is to house painting, he quickly added during a recent online discussion with Jan Triplett, Ph.D. and CEO of Business Success Center in Austin, Texas.
Are You Stuck in 1975? The Way You Value Intellectual Property May Be
Mood rings were groovy, “Jaws” was playing at the movies and the Vietnam War was ending. It was 1975 and a new television show called Wheel of Fortune debuted its first spin. That wheel is still spinning and being stuck in 1975 must work for Pat and Vanna since they are still solving those puzzles and recording new shows today. Are you stuck in 1975, too? When you value your company, how much do you think your Intellectual Property is worth? When I talk to inventors, entrepreneurs and others, they often cite 15 or 20 percent, roughly the same as in 1975! And I was under the same mistaken impression until I read a new report.
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
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.
It’s Not Time to Bury Strategy, But Digging Into Research Makes Sense
A recent Forbes article Is Strategy Dead? 7 Reasons The Answer May Be Yes caught my attention, as the writer intended. After all, strategy is a pillar of my business! I won’t offer seven counterpoints, but I will tell you from a high-level view that this death knell for strategy is premature. All businesses benefit from developing, and maintaining, a well-informed strategy. I surprise many by recommending 15 years, as they believe three to four years is sufficient and any longer term will be wasting resources. They usually cite the rapid rate of technology change as a reason not to plan so far ahead.
Data Mining: 4 Ways to Use Patent Analysis for Any Size Business
Historically, Patent Analysis has been a tool for the 1,000-pound gorillas of industry, but thanks to digitized patent filings, global access and increasingly sophisticated data miners, large quantities of information obtained from patents and patent applications can be analyzed to help smaller businesses make informed decisions they may not have thought possible. Simply put, Patent Analysis is a method for visualizing large quantities of data related to research, potential breakthroughs and market ideas.
Outsmart the Competition Through Patent Research – 8/12/2014 CETA Symposium
Spending a fraction of your budget on comprehensive prior art research can accelerate your innovation and tip you off to competitors in your space, the founder of the Pearson Strategy Group explained at the recent Central Texas Electronics Association Symposium in Austin. Professional patent research and analysis requires expertise and tools most business people are not aware of. And high quality results can help inventors and entrepreneurs understand their competition and their opportunities, he said.
How to Learn More about Your Competition
I was just interviewed on Ask the Expert about how monitoring your competition and marketplace can give your company an edge. Listen in during your drive home or lunch break to learn more about what can happen when you make the effort to better understand your marketplace and business space. And what can happen if you don’t. I’ll be a guest on the show every other month, so let me know what you’d like to hear about next time.