Grow sales by using patent information in your business decisions
Grow sales by using patent information in your business decisions - a study from Harvard Business Institute shows. More than 70 % of European companies are not using patent information in business decision-making today.
According to the latest statistics from WIPO, world patent filings in 2016 increased by 7.3 %. China as one of the major drivers of this global growth, is alone responsible for 44 % of this increase, outperforming both the European Union and the US.
Don’t compare apples with oranges! Beware of the statistical pitfalls
It is necessary to look at statistics with a critical eye. However, statistics alone don’t provide the complete picture. Patent filings are one thing, but patent rights and geographical coverage is more important. To get a full insight you need to analyse the data in patent documents. Today this is not a common practice for European and US companies.
More than 70 % of European companies are not using patent information in business decision-making
This is far from exploiting the full potential of patents. It should worry European companies deeply, as a new study from Harvard Business institute finds a direct correlation between the usage of patent data and sales growth.
Patent based decision-making will help your business, for example by reducing operating cost, saving time, increasing innovation and consequently boosting global competitiveness.
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