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Wednesday, January 19, 2022
Increasing Business Focus on Innovation Through Patent Portfolio
Global organizations cite patent innovation as key to increasing competitive advantage amidst the pandemic
LONDON, Jan. 18, 2022 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, today released a new report which highlights global insights into how organizations are using patents and patent data, challenges and opportunities, and the role of patents in driving the lifecycle of innovation.
As revealed in the Clarivate™ Patent Trend Report 2022, the organizations surveyed overwhelmingly view patents as a business driver, with the majority (75%) saying the primary purpose of their patent strategy is to enable further innovation. The results also show that the majority (69%) of patent portfolios have increased in the last 12 months, driven by increases in budget, greater C-suite buy-in and changes in business focus.
Key findings include:
Nearly half of respondents (45%) say their organizations have missed out on opportunities because the C-Suite was not engaged with their patent strategy.
More than half (57%) also say it has become harder to implement their patent strategy in the last 12 months with the top reasons being insufficient staff, data, budget and time.
Many are turning to outsourcing, with 45% already outsourcing between 26% to 50% of their patent activities.
Nearly half (44%) saying they will outsource more in the next 12 months.
There is positive change on the horizon, as these organizations say they think technology could provide better data analytics capabilities, better efficiency to enhance productivity and a real-time view of data. They also see AI adding the most value in patent analysis, search and licensing.
Gordon Samson, Chief Product Officer, Clarivate said: "The findings in this report reveal that patent protection and its role in the innovation lifecycle remain critical to businesses around the world. Despite the turbulent times faced over the course of the pandemic, organizations recognize the opportunities and value to be gained by usage of patent data. Clarivate is proud to be an experienced patent intelligence and lifecycle partner that can provide the insights to inform patent strategy – which could prove key to successfully navigating ongoing uncertainty and accelerating innovation in organizations around the world."
Methodology Clarivate commissioned research into patent trends across key global regions, carried out by independent survey firm Vitreous World. The research sought the views of 275 IP and patent professionals, both in-house and external counsel, across seven countries/regions: the United States, United Kingdom, France, Germany, Mainland China, Japan and South Korea.
About Clarivate Clarivate™ is a global leader in providing solutions to accelerate the lifecycle of innovation. Our bold Mission is to help customers solve some of the world's most complex problems by providing actionable information and insights that reduce the time from new ideas to life-changing inventions in the areas of science and intellectual property. We help customers discover, protect and commercialize their inventions using our trusted subscription and technology-based solutions coupled with deep domain expertise. For more information, please visit clarivate.com.