According to a study by Cipher conducted in association with IAM, 98% of patent owners rely on benchmarking to support their patent strategy. However, over half of respondents are unhappy about the time and expense involved, with a similar proportion lamenting a lack of objective and reliable data.
The survey results are a timely reminder of the critical need for well-organised and reliable data to support patent strategy. The strategic importance of patents is being increasingly communicated to audiences who are neither seasoned nor interested in their technicalities. What they require is clear evidence related to the decision at hand. The solution is to automate the manual processes preventing access to this data.