Close
Contact us
Close

4th February 2021

Benchmarking Report – Key Findings

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

Share this page:

Patent owners understand the importance of benchmarking patent portfolios 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).

<img decoding=

Benchmarking at the technology level is best practice

Benchmarking patent portfolios 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.

<img decoding=

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.

<img decoding=

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…

Portfolio Optimisation connecting cogs

Optimise your portfolio

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

Read more
Competitive Intelligence

Gather competitor intelligence

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

Read more
Cross Licensing

Model cross licensing

Combine patent and revenue data to determine rational licensing outcomes.

Read more

Manage your budget

Justify patent budgets and communicate the impact of your investment.

Read more

Conduct due diligence

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

Read more

Tackle inbound patent assertion

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

Read more

Benchmark your portfolio

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

Read more

Monetise your portfolio

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

Read more
Technology Trends icon

Predict technology trends

Track new technologies and discover the unknown owners of future innovation.

Read more
Icon of a meter

Create Risk Mitigation Strategies

Understand the materiality of your threats to define your risk mitigation strategy.

Read more

Insights and Events

Inventions & Innovators spearheading Sustainable Plastics

This report identifies the firms innovating in areas such as biodegradable polymers, bio-based polymers, and sustainable adhesives.
Read more

Air Quality: Global Leaders & Innovators

Technologies covered in this report include air scrubbers, oxidation catalysts, biofuels, diesel particulate filters and multi-pollutant monitoring devices.
Read more

Inventions & Innovators powering the Energy Transition

A detailed view of the leading innovators to watch based on recently-published inventions and applying weightings to technologies which enable the energy transition.
Read more

Oil and Gas Supermajors – Energy Transition

Our updated report finds that supermajors’ technology innovation is more evident in the Materials, Mechanical, and Sensors & Optics categories.
Read more

Sustainability and detergents: environmentally friendly innovation

Our report on patent owners in the Sustainable Detergents space identifies the firms producing new formulations and the countries leading innovation.
Read more

Understanding the data behind patent value

We take a deeper look at the data that underpins our podcast episode, Understanding patent value, with Jay Yonamine, Product Manager, GEO, Google.
Read more

Improve your patent strategy now

Speak to the Cipher team today.

Review Your Portfolio