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4th February 2021

Benchmarking Report – Key Findings

Incorporating the findings of the “Benchmarking your Patent Portfolio” survey conducted in collaboration with IAM

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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.

Read the Key Findings

Benchmarking is at an inflection point where over half of organisations have access to the data and analysis they require to support evidence-based decisions. The other half still struggle with an information deficit largely attributable to obstacles that machine learning and process improvements can eliminate.

Key findings

98% of patent owners use Benchmarking to support their patent strategy and 89%, for Competitive Intelligence

 

Hear all four Key Findings from the Cipher Report on Benchmarking your Patent Portfolio

Understanding your competitors is a fundamental requirement of benchmarking

88% of patent owners report that benchmarking involves a comparison to competitors. Most use Portfolio Size, Geography, Quality and Age as metrics. However there is a growing trend towards combining this data with other sources of business data to increase relevance to executives across finance, technology and other business functions. This is a topic explored further in our article Beyond Portfolio Optimisation (IAM 100, 2020).

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Benchmarking at the technology level is best practice

Benchmarking must be conducted at the right level of granularity to be actionable. 75% of patent owners report that benchmarking is conducted at the technology level and there is consensus that this delivers more valuable and actionable insight.

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The main obstacles to benchmarking are cost, lack of objective & reliable data & time

While benchmarking is regarded as critical to patent strategy, 53% of respondents state that the primary challenge is that it is too expensive or time consuming. Other challenges include a lack of objective and reliable data (48%) and a lack of industry standards (42%). Efficient access to the data you need is key and Machine Learning solutions like Cipher offer a step change in this area.

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Those who are not taking advantage of this capability risk being at a significant competitive disadvantage. Benchmarking is at an inflection point where over half of organisations have access to the data and analysis they require to support evidence-based decisions. The other half still struggle with an information deficit largely attributable to obstacles that machine learning and process improvements can eliminate.

Cipher Benchmarking Study              Read the Key Findings

 

With Cipher you can…

Optimise your portfolio

Ensure you have the right portfolio to meet your strategic patenting objectives.

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Gather competitor intelligence

Understand who’s doing what by automating patent to technology mapping.

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Model cross licensing

Combine patent and revenue data to determine rational licensing outcomes.

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Manage your budget

Justify patent budgets to CFOs and others to communicate the impact of your investment.

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Conduct due diligence

Automate manual reviews for efficient execution of M&A and licensing transactions.

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Tackle inbound patent assertion

Be prepared with evidence to create a fast and effective threat assessment.

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Benchmark your portfolio

Assess your portfolio in comparison to other owners through your technology lens.

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Monetise your portfolio

Identify opportunities to create value through licensing or sale of patent assets.

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Insights and Events

Next Generation Batteries

Who are the key technology players when it comes to the Energy Transition and Battery technologies

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Cipher Benchmarking Study

Hear from Google, ARM, Facebook and many other large patent owning organisations in the full Cipher report. Take a look at what the world’s patent owning organisations are saying about benchmarking and its importance in patenting strategy.

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Benchmarking your patent portfolio – the key to your patenting strategy

WEBINAR
The Key Findings from the Benchmarking your Patent Portfolio Study are out! Catch up on the recording as we delve into each key finding and hear from industry experts at Facebook and Paragraf.

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Benchmarking Patent Portfolios Report – Key Findings

Hear from leading patent owning organisations on the importance of benchmarking your patent portfolio in our Benchmarking Study.

Read more

IAM Strategy 300 2021

Nigel Swycher, CEO of Cipher and Steve Harris, CTO are both named again in IAM Strategy 300 Global leaders for 2021.

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LOT Network Report 2020

Find out about the 2.7 million patent assets that sit under the LOT Network umbrella, as covered in Patent Lawyer .

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Improve your patent strategy now

Speak to the Cipher team today.