Why do you need to invest time and money on patent search?

If you are a scientist who is busy in a lot of research, you should include patents in your research topics. You may find patent world frightening and confusing, but it really matters a lot to include it. Here are a few important reasons why you should invest time and money in patent search and patent research/analytics.

Cost savings

Most of the time, it has been found that nearly 25 to 30 percent of all research and development expenditure is wasted on redeveloping the existing inventions. This unnecessary cost can be avoided by searching existing knowledge on a topic first. So, patent searches should be included in all research work.

You will find relevant information not found anywhere else

Patent research/analytics contain a lot of information that is not available or published in scientific journals. As a matter of policy, many companies do not disclose their research and development in any other forms than through patents. It has also been found that more than 70% of the technological knowledge can only be found in patent documents. So it is a sensible step to hire a service provider working in the field of patent searches and other areas such as preparing patent infringement claim charts to do the job for you.

You may get free inventions

Many patents are no longer applicable. They expire after 20 years. So at this point, anyone can use the invention. Also many are abandoned much earlier in the patent lifecycle because fees are not paid or because they simply do not get granted. You can see what your competitors are doing

Patent search and analysis are the best ways to collect business intelligence and monitor innovation strategies of other players. You can use the information to develop or adjust your own strategy and make the right decision.

You should get an exhaustive search done

For important reasons, you should search the full text, not just the summary. This will help you in making an informed decision. Hope you found the above information useful. A searching patent is easy to do these days as there are many patent experts and patent attorneys who are capable of conducting searches accurately. You can easily hire one of them for conducting patent searches. The best place to search these professionals is the Internet. Most of these service providers have an online presence.

You can visit their websites to know more about their credibility, services offered and their professionalism. You can read the reviews of their previous clients to know whether they are experts in the patent industry or not.

Read more at : www.iiprd.com