Patents: A Tool for Technological Intelligence 1

Patents: A Tool for Technological Intelligence

Patents are the most important source of technological information. The patent is given to the inventor as a reward for its innovation within the shape of the exceptional proper of the monopoly for a length of twenty years from the concerned date of the invention. Due to development in the IT area and internet, now those valuable files are within the attain of most of the people. Any individual professional within the artwork can go through various patent databases and after a search can get the patent record in their need. There are one of kind patent databases viz, USPTO, EPO, JPO, and so forth freely open for the public get entry to. If we undergo the patents related to a particular technological vicinity, we will be capable of discovering the masses of facts about the existence cycle of the technological innovation viz.,

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Patent analysis can well-known shows very valuable information, which isn’t always to be had everywhere. After patent seeks the crucial element is the patent evaluation, and one must be very concise about their objective of the observe. The facts within the patent documents may be utilized in distinctive shape according to the need and mapped consequently to get the photograph of the complete analysis in snapshots.

Patent data can be used for the instruction of technological landscapes. Logistic mathematics and circle arithmetic can be very beneficial within the plotting of the technological landscape. It can monitor the evolutionary trend of an era, how it’s far evolved from a basic era, alongside the length of the technological diversification and its nature. These maps may also supply the particular assessment of the merging of the different technologies to give rise to interrupt-thru technology. These kinds of maps will be very useful for the R&D personals to assess the location of their research and era, and also they’ll discover a way to extra innovate greater superior and treasured technology.

In the present day, global context corporations want to recognize what technologies can competition choke without difficulty, and maybe try to. They also need to understand the areas of technologies in which competition is extreme and the areas where competitors are concentrating their IP development and their R&D efforts. They went with the intention to tune patent acquisition and improvement techniques and chart out the aggressive landscape. To examine technology earlier than making any funding choice, companies need to recognize the tempo of patenting hobby inside the technology, which patents encompass essential thoughts in the generation and how vulnerable the company’s technology are to patent infringements. This will deliver them a good deal needed information in finding out among technology improvement and generation acquisition.

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The capacity to extract applicable statistics from patent literature is a vital fulfillment element for everybody involved in technological innovation. The era mapping approaches that can be used to convert patent facts into understanding which could impact decision-making.

Patents are an important source of technological intelligence that groups can use to gain strategic advantage. Technology Intelligence is a can be used for collecting, analyzing, forecasting, and dealing with outside generation related data, together with patient records. Computational patent mapping is a technique for the development and application of a technology knowledgebase for the era and aggressive intelligence. The number one deliverables of patent mapping are in the form of expertise visualization through landscape and maps. These maps provide treasured intelligence on technology evolution/revolution, nature of various kinds of pioneering; big; pure; and emerging gamers, cutting-edge assessment, and so on.

Technology choices will outlive the tenure of the control crew making the one’s choices. While the modern rapid pace of technological trade way that company technology selections is common and far-accomplishing, the consequences of the selections-both top and horrific-will live with the firm for a long time. Usually, generation selections are made unilaterally within the Information Technology (IT) group, over which senior management chose to don’t have any input or oversight. For the Board of an enterprise to perform its obligation to exercising business judgment over key decisions, the Board have to have a mechanism for reviewing and guiding generation decisions.

The latest instance wherein this kind of oversight would have helped become the Enterprise Resource Planning (ERP) mania of the mid-1990’s. At the time, many corporations had been making an investment tens of hundreds of thousands of dollars (and every so often hundreds of millions) on ERP systems from SAP and Oracle. Often those purchases had been justified by using executives in Finance, HR, or Operations strongly advocating their purchase as a way of keeping up with their competitors, who have been also installing such systems. CIO’s and line executives frequently did now not provide enough idea to the problem of how to make a success transition to these very complicated structures. Alignment of corporate sources and management of organizational change added by using these new structures turned into omitted, often resulting in a disaster. Many billions of greenbacks were spent on systems that both have to no longer were sold in any respect or had been bought earlier than the customer organizations were organized.

Certainly, no successful medium or large commercial enterprise can be run these days without computers and the software program that makes them useful. Technology additionally represents one of the single biggest capital and operating line item for enterprise costs, out of doors of hard work and manufacturing system. For each of these motives, Board-degree oversight of technology is suitable at some level.

Can the Board of Directors preserve to depart these fundamental decisions completely to the contemporary management crew? Most huge era selections are inherently volatile (studies have shown much less than half supply on guarantees), even as bad decisions take years to be repaired or changed. Over half of the generation investments are not returning anticipated profits in enterprise performance; Boards are therefore becoming worried about technology decisions. It is sudden that most effective ten percent of the publicly traded agencies have IT Audit Committees as a part of their forums. However, the one’s businesses enjoy a clear aggressive advantage in the shape of a compounded annual go back 6.5% extra than their competition.

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Tectonic shifts are underneath manner in how era is being provided, which the Board needs to recognize. IT industry consolidation severely decreases strategic flexibility by undercutting management’s capability to don’t forget competitive alternatives, and it creates probably risky reliance on only a few key suppliers.

The core asset of the flourishing and lasting enterprise is the capability to reply or maybe anticipate the effect of outside forces. Technology has ended up a barrier to organizational agility for some of the reasons:

Traditional Boards lack the abilities to ask the right inquiries to make sure that generation is taken into consideration within the context of regulatory necessities, risk, and agility. This is because technology is a notably new and speedy-growing profession. CEOs were round in view that the start of time and economic counselors were evolving during the last century. But generation is so new, and its value to deploy changes dramatically, that the generation career continues to be maturing. Technologists have labored on how the structures are designed and used to clear up problems facing the enterprise. Recently, they recognized a want to apprehend and be concerned inside the business approach. The enterprise chief and the monetary leader neither have records nor enjoy using generation and making key generation choices. The Board desires to be concerned with the executives making generation selections, just as the era leader wishes Board help and steering in making those choices.

Recent regulatory mandates including Sarbanes-Oxley have changed the relationship of the business leader and financial leader. They in flip are requesting comparable assurances from the technology leader. The enterprise leader and financial chief have professional advisors to guide their choices, consisting of lawyers, accountants and funding bankers. The technologist has relied upon the seller network or specialists who’ve their personal angle, and who might not usually be capable of offer pointers within the first-rate pursuits of the employer. The IT Audit Committee of the Board can and ought to fill this hole.


I am a writer, financial consultant, husband, father, and avid surfer. I am also a long-time entrepreneur, investor, and trader. For almost two decades, I have worked in the financial sector, and now I focus on making money through investing in stock trading.