Minesoft was pleased to be featured in a recent publication titled ‘Growing Business Innovation’. Driving innovation is central to the ethos of Minesoft as a patent solutions provider. With over 80% of the technological and scientific information available in patents inaccessible anywhere else, ignoring patents as an information source at best delays innovation and at worst, prevents it.
Minesoft’s James Cooper and Rahman Hyatt authored a chapter on ‘The Use of Patent Information for Innovation and Competitive Intelligence’. Patent data is an excellent source of external ideas and information that can be used to drive innovation by identifying opportunities and threats to a business; improving its survivability and profitability in the modern marketplace. This information is also crucial to competitive intelligence, which makes use of public information to accrue data on competitors and the market environment to steer strategic decision making.
The chapter covers three different approaches to using patent data and the potential information each approach can generate to drive decision making:
- Patent Landscape Analysis
- Infringement Searching
- Licensing and Portfolio Analysis
“Rahman and I outlined three common uses of patent data to give the reader a basic understanding on the kinds of questions patent information can be used to answer,” says James Cooper, co-author and member of Minesoft’s Support Team. “We explain the processes used to generate valuable information and the tools, like PatBase, that can reduce the time and effort required to obtain them.”
The foreword, authored by Tim Moss, CBE at the UK IPO, highlights the vital role that intellectual property plays in encouraging innovation in all industries, at all levels. The book features contributions from prominent figures in law, IP and business.
Growing Business Innovation is available to buy here.
Find out more about using patent information for innovation and competitive intelligence. Download our free white papers here.