Every day, new technologies are coming in this fast-paced world. Thus, every month, hundreds of patent application filings are going on at patent offices. So, if you’re spending in new technological R&D, you should ask yourself. “Are you investing in patenting the proper technology?” This is when patent monitoring might come in handy.
Hiring patent monitoring services warns you of potential hazards during patenting a new technology. Thus this article will explain you everything about patent monitoring. So, keep reading till the conclusion.
Also read: What is IP docketing?
Overview of Patent Monitoring
Keeping eyes on patents that belongs to you or your competitors is patent monitoring. The patent monitoring alert report you get helps remain updated about granted Patents and new Patent applications. Using this you can identify problems early and remove them at an initial stage.
Patent monitoring is a patent watch technique that gives a clear picture of progress in a particular technical field. Thus it is an analysis which gives an extensive, comprehensive view of a Patent & technology over a specific period. As per the needs of clients, patent monitoring is customized and gives report on technology and/or company names.
Also read: Patent Prosecution Process: An Overview
Why Patent Monitoring?
Importance of active patent monitoring is very high. Acquiring sensitive information as quickly as you can gives you time to develop and execute best patent prosecution strategies. It allows have an eye over the peers competition. Thus, businesses can take best decision when their competitor’s strategies unfold.
You can understand its importance as to what are the limitations in your innovation. Are you the only one working in this direction? Or you have competitors also working on same technology? If there are competitors, who are they, where are they? The innovation that you are doing, does it have any prior patent for it? If yes, it can become an obstacle for you in future. Patent monitoring services solves all such obstacles in your innovation process.
Advantages of Hiring Monitoring Services
The information you get by selectively watching patent publications play an important role to achieve innovation goals for your company. Here are distinct examples of it:
Keeps Up to Date:
It keeps you updated on the advancements of competitors within your technological field. Patent applications secret in starting and patent comes into existence in 18 months after filing. You might see it as a long time to go. However, it takes even much longer to come to market. Thus, patent monitoring can make you aware of developments made and by whom in this time period.
This way you remain aware of any new players in your field. Using this service you understand who will be your competitors before actually releasing your patent in the market. You can then take decisive steps to make your patent effective in market.
Understand competitors’ business tactics:
It keeps you aware of any new players in your field. You understand who will be your competitors before actually releasing your patent in the market. This allows you to take decisive steps to make your patent effective in the market. As if you get to know in what field they are progressing innovation you can respond accordingly. It also tells you in which countries your competitors want to establish their patents. Thus, you also get to know about their global strategy.
Who has quoted your patent:
Since most patent applications have a search report which quotes about relevant patent documents. Hence, patent monitoring aware you of third party patent actions which have quoted about your patent applications. If your patent application is quoted in someone else’s application, it means your invention is important. It also means that the other party is probably much closer to your innovation.
Also read: Taking Paralegal help for Patent Search
Hire “Patent Paralegal Force” for Patent Monitoring Services
As an aspiring industry of future you can see how investing in patent monitoring services, helps you formulate better strategies for R&D. Taking professional help allows you to develop highly innovative products that offer bright future. It also keeps your competitors at bay.
So it is critical for you to avail patent search service that gives you accurate data and analysis, as you don’t want to invest in R&D of the product that has no future. Also, the partner you are choosing for yourself should cover the country you are living in.
Thus, “Patent Paralegal Force” becomes the best choice for you. Our paralegal patent search experts are experienced and come from all the technological domains that can exist. We use right tools to give you the answers you need and help you beat your competitors with innovative products. We have clients in over 100+ countries availing our patent paralegal service. Read more about our services here.