Uncovering Potential Winners

Converting great products into powerful inventions can be one of your most daunting tasks. In the world of development, results are everything.

Because of this, taking the time to step back and look at what you've got may seem like sifting through slag for nuggets. But with a good mining program in place, you can efficiently separate the winners from the losers and cash in on your IP.

A process often referred to as "Patent Mining" makes this happen. Naturally it varies according to the nature of your development work and product mix. For example, your group may have a mature product line that developers regard as lagging behind the competition and feel that pulling any patents out of it would be a waste of time.

However, if you have an enhanced version nearly ready for distribution, this situation may benefit from a closer look. And it often does. Consider the potential benefits.

Reasons for Patent Mining

Imagine that you have developed a good Patent Mining program. At any time, you would be able to complete tasks like examining the novelty of your current products, as well as brand new product releases.

It would then be a simple matter to mine patents from your development projects.

By crafting a small Patent Mining effort as part of a business goal, to earmark promising patentable products, you can quickly shift your focus to those areas with the best potential.

Once you have developed the ability to take a discerning look at Work in Process for IP opportunities, it is also possible to accurately estimate their potential Return-On-Investment.

It then becomes a realistic alternative to assume exclusive market control of certain products. Moving forward then becomes a simple "go/no-go" decision.

How This Works

Patent Mining requires a close examination of the products and services that allow your company to excel. In effect, all the products that are included in what is commonly called your "release ladder" become eligible for Patent Mining, while always considering what separates you from your competitors.

This review process results in an organized grouping of product classes having the highest potential for innovation over a relatively long period (generally more than 5 years). Normally this is supported by estimating their anticipated product life with your team.

Another way to look at Patent Mining is "on the negative". This technique identifies functions that appear to be missing in competitors' products while considering your own contemplated product enhancements.

Analyzing the process of leveraging competitor shortcomings may also require prior art searching, competitive analysis, and staff motivational incentives. You then couple these together with active development projects to achieve results.

Let's Get Started

NTP-IP Innovations has experience with Patent Mining Programs that apply to a variety of technologies, companies, and business situations. These include areas like web services, communications, industrial control, Internet of Things (IOT), and software applications.

We will work with your staff and organize the ideas that they believe are valuable. Then we will search the market and patent world for similar work and identify the best opportunities.