Mapping the trends, opportunities and risks
What is a Patent Landscape report?
A patent landscape (PLR) or patent mapping provides a bird’s eye view over the patent situation of a specific technology. The report can help your management with policy discussions, strategic R&D planning or change in technology focus. The search results are then analyzed to answer different questions such as: trends of patenting and innovations as well as evaluating strength and risks. The results are presented in a visual form to allow easy analysis and conclusion or recommendations.
Why conduct a patent Landscape analysis?
Patent landscape, or patent mapping as it is often called, is providing the leadership in a company with a useful tool to evaluate and support their strategic decisions concerning the organization. It might be used as a platform for discussions in different departments and areas such as:
- R&D in order to get a better overview of the state of the art, technology, potential to improve, modify and invent.
- Business development to study your competitors, market, potential business transactions like expanding, M&A, licensing and more.
- Legal department to analyze the risks and strengths.
- Management to evaluate strategies, budget spending, opportunities, risks and help support the decisions leading to a defendable growth strategy.
When performing the Patent Landscape analysis at early stages or continuously during the product life cycle, the patent landscape report might help the company save time, manpower and money. It will allow its teams to identify change in trends on time, locate new development opportunities and create changes as well as sign licensing agreements to avoid risks.
When to conduct the Patent Landscape?
Before any big strategic decision of entering a new investment or technology and during the products lifecycle periodically.