Patent data can be useful throughout a technology's innovation lifecycle. This article focuses on how parties can use patent data at the marketing and monetisation stages.(1)

Strategic positioning of products

Patent data can reveal filing and development trends in markets that correspond to a party's product, which can help the party to determine their product's relevance.

For example, a report which shows few third-party patent filings in a particular market indicates that other parties are not actively investing in, developing or selling products in that market. This could suggest that:

  • launching a product in this market has a high chance of success; or
  • other parties have chosen not to invest in this market for reasons which may be worth exploring.

Conversely, a report which reveals substantial third-party filing activity in a particular market may indicate that such market is relevant for a party's product. Further, technological segmentation can highlight the technical areas in which a party's product may stand out against those of its competitors.

Market positioning studies based on patent data must have a well-defined objective:

  • If a party has not yet begun to market its product, the study should aim to support the product's introduction in the market.
  • If a party is already selling its product, the study should focus on determining improvement opportunities to ensure that the product stands out against those of its competitors.

To position their products strategically using patent data, parties should:

  • list the markets and technologies relevant to their products;
  • list their competitors by their patent filing volume in the relevant market;
  • compile filing distribution charts using data from recent years to detect any significant technology or market trends;
  • identify and compare patented technology segments to establish the segments in which most innovation is happening and which technologies are most protected;
  • include their own patent filing data in all of the above studies and compare it with their competitors; and
  • compile a personalised report which includes recommendations that specifically address the objectives set at the start of the exercise.

Monetisation of patent assets

Patent portfolios enable the commercialisation of products which embody protected technologies. They also represent tangible assets, which are closely associated with the party's value (eg, in fundraising, acquisition or merger operations). Further, parties can license or transfer patents to third parties, which generates additional financial income. Therefore, parties should assess the financial value of their patent assets and determine such assets' valorisation potential with respect to third parties.

Patent data reports can be useful in such contexts. Third-party filing data can contextualise patents in their competitive environment, which can help parties to identify players with similar technology developments. This facilitates the identification of potential partners, in terms of both their interest in the patent technology and their ability to exploit the patent in the chosen markets.

Parties should establish whether they wish to perform:

  • only a financial valuation exercise; or
  • a valorisation exercise which includes the identification of potential valorisation partners.

Parties should also clarify:

  • the geographical scope of the exercise; and
  • their patent's technological area, specific technical features and possible commercial applications.

To monetise patent assets using patent data, parties should:

  • list their competitors by their patent filing volume in the relevant technological area;
  • map their competitors' filing data geographically to establish the areas:
    • in which most research and development takes place; and
    • with the most commercialisation potential;
  • compile filing distribution charts using data from recent years to detect any significant technology or market trends;
  • identify and compare patented technology segments in order to establish the segments in which most innovation is happening and which technologies are most protected;
  • analyse prior art citation relationships between their patents and those of third parties to establish which parties own products that are most similar to their patented technology; and
  • compile a personalised report which includes recommendations that specifically address the objectives set at the start of the exercise.

Endnotes

(1) This is the final article in a series on patent data. For previous article in the series, please see: