Patent based decision making
The way to boost global competitiveness?
According to the latest statistics from WIPO world patent and trademark filings, in 2014, increased with 4.5 and 6.0 % respectively. China, as in many other fields, were the front runner driving the global growth. With the red dragons 12.5 % increase in patent filings it outperformed all western countries by a landslide. Even though national statistics, regarding patent filings, aren’t generalizable worldwide evidences pointing one way: in terms of patent filings both the European Union and the US are lagging behind.
Don’t compare apples with oranges! Beware of the statistical pitfalls
We believe that it’s necessary to look at statistics with a critical eye. The global reach of Chinese patents, with legal status, are not fully as impressive as its’ number of filings.
Furthermore, just a few of these patents are to be actualized outside their borders. A patent with legal status only in China does not, naturally, constitute a threat for a company producing and selling elsewhere. With more filings they are, howbeit, increasing the opportunities for getting more patents approved; in China, in its´ closest surrounding and globally.
Less than 30 % of European companies are aware that you can use patent information to make better business decisions
Even if European companies tend to be slightly more effective in actualizing and internationalizing patents, compared to its’ eastern benchmark, they are far from exploiting the full potential of intellectual property.
The European Patent office state that 70 % of the European companies doesn’t at all use patent information in business decision making. These figures concern us deeply, as a new study from Harvard Business institute finds a direct correlation between the usage of patent data and sales growth.
You will miss 100 % of the opportunities you don´t know about!
We cannot prompt or foresee Chinese government actions but we will continue our mission to increase the usage of patent information among European companies.
It’s our belief that patent based decision making will reduce operating cost, saving time, increase the pace of innovation and thereby boost global competiveness.
Are you utilizing patent information to increase your competitiveness in the international market?