Cipher Benchmarking Study
Patent owners understand the importance of benchmarking and 98% adopt this approach in support of their patent strategy. Over half, however, complain about the time and expense of benchmarking, and almost the same number state that there is a lack of objective and reliable data. This is more than a coincidence, it’s causation. Make a task hard enough and it’s human nature to avoid it.
Throughout November 2020, Cipher conducted the first global survey in collaboration with IAM to understand the importance of benchmarking and the role it plays in forming a patenting strategy. It also delved into the best practice that has developed for patent owning organisations. With more scrutiny around patent portfolios, benchmarking is seen as a way to communicate patenting strategy to CFOs, CTOs and the business more generally.
Benchmarking is storytelling with data.
Daryl Bradley, Head of Patent Prosecution at ARM
Four Key Findings have come to light:
- benchmarking is mandatory for patenting strategy,
- understanding your competitors is a fundamental requirement of benchmarking,
- benchmarking at the technology level is best practice,
- the main obstacles to benchmarking are cost, lack of reliable & objective data & time.
To continue the discussion prompted by these eye-opening Key Findings, Cipher and IAM hosted a webinar on Benchmarking your patent portfolio – the key to your patenting strategy which is now available on catch up.
Want to explore how Cipher can support you with benchmarking your patent portfolio? Get in touch directly.