25th February 2021
Cipher Benchmarking Study
Cipher benchmarking study in collaboration with IAM
The Cipher benchmarking study shows 98% of patent owners understand the importance of benchmarking and adopt this approach for their patent strategy. Over half, however, complain about the time and expense of benchmarking patent portfolio. Almost the same number state that there is a lack of objective and reliable data. This is more than a coincidence, it’s causation. It makes the 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, 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
- 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 .
Get your copy of the full Cipher Benchmarking Study by filling out the form below.
Do you want to explore how Cipher can support you with benchmarking your patent portfolio? Get in touch directly.
Download the full Cipher Benchmarking Study
CIPHER BENCHMARKING STUDY
The key takeaways of the report are:
- Benchmarking is a core competence for all IP professionals
- An objective and repeatable process is vital
- Machine learning offers a reliable repeatable solution to manual tasks