We will answer the following:
Where are the technological gaps that your business could exploit?
How saturated or unsaturated is your chosen technology space?
Who are the top players within your chosen technology space?
Has somebody already beaten you to your idea?
A fundamental part of demonstrating that an R&D project, for tax purposes, is seeking to achieve an advance in overall knowledge or capability is to establish the baseline. Some businesses assume they know what the baseline is, but the only way to be absolutely certain is to analyse the patent landscape.
Many products and technologies never make it to market, so effectively remain “hidden”. This can be because of a change in company leadership, direction, or market strategy. Or maybe the process is still in progress or has stalled because of an issue with the patent or the cost.
Your competitors may not be currently selling an innovative product, but they may have carried out the R&D before you. All patents and patent applications become publicly available knowledge and, therefore, need to be considered when establishing the R&D baseline.
A Source Advisors’ patent landscaping analysis not only provides invaluable insight into your competitor’s activity in your chosen technology, it can be essential in demonstrating the R&D baseline in any R&D tax relief claim.
An IP competitor benchmarking study is designed to compare your IP with your closest competition. This comprehensive analysis will uncover and evaluate the strengths and weaknesses of your IP portfolio and give you a detailed view of what your competitors are patenting. Consequently, this IP analysis will provide valuable technical and commercial insights into the demographic of your competitors’ R&D.
There may be technologies where your competition can prohibit you from using, selling, or making a product. Competitor benchmarking can help you gain insights into your competition’s past, present, and future R&D direction. It can show your competition’s strongest assets and associated weak points.
Alternatively, if you do not currently own any patents, we can compare and contrast your current R&D strategy with your competitors’ IP strategy.
Source Advisors’ competitor benchmarking analysis will answer the following: