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 src=

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 src=

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 src=

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 to CFOs and others to 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 of today and discover the unknown owners of future disruptive innovation.

Read more

Insights and Events

Patent Innovations

What is patent risk and how best should it be communicated to the board? At a time where 80% of a company’s assets are intangible, understanding all possible sources of risks is paramount.
Read more

Biodegradable Alternatives to Plastics

Some 8 billion metric tons of plastic has been produced over the past 50 years. How is technology positively influencing the next 50 years and providing a more sustainable solution?
Read more

Patent Risk Survey Key Findings

82% of patent owners will face patent risk in the next two years. Read the Key Findings of our global Patent Risk Survey to discover how IP professionals deal with patent risk.
Read more

Death, Taxes and Patent Risk

What is patent risk and how best should it be communicated to the board? At a time where 80% of a company’s assets are intangible, understanding all possible sources of risks is paramount.
Read more

Industrial Digital Transformation

Advances in technology have sparked an arms race in the industrial digital transformation and Big Tech companies are leading the way. What innovation is driving this transformation in the modern factory?
Read more

Electric Vehicles

Less than 1% of all cars on the road are electric vehicles, despite the global drive for a sustainable future. Which companies are investing into this area to increase EV market share?
Read more

Improve your patent strategy now

Speak to the Cipher team today.