Using Patents to stay on top of emerging trendsLast Updated: January 17, 2019
You’ll want to utilize our Patent Analytics tool whenever you’re looking to stay on top of future trends, as well as to keep track of what your competition’s best and brightest are focused on. Tracking patents can provide you with an early view into the strategies that different companies are pursuing and building.
To start, let’s use a term like payments as an example.
Select the first result that comes up, so that you’re searching for a term rather than a specific company or investor (For more information on running different searches, click here).
Navigate to the Patents tab.
From the trends graph in this tab, you can gather what year saw the most patent applications and grants, and how many in total each year saw. You can also select the options to only see the number of patent applications vs the total number of granted patents to do a comparison.
Our analysis tab on the left will allow you to leverage patents to understand what topics are associated with a particular technology. Using our machine learning-powered topic modeling, you can quickly identify related patent topics, which highlight key concepts and potential products that you should be aware of.
For instance, If you only want to focus on mobile payments, select that check box and compare the numbers in that space with the overall total.
As you can see, payments service providers, payments systems, and mobile payments contain the highest number of patents. Hovering over any of them will show you the total number. If you click on them, the specific patents will appear underneath.
If you wanted to use Patents as a way to assess competition, select the Top Patent Players option to display the companies applying for payments patents.
Click on any of them to reveal the patent applications underneath the graph.
There are a number of ways to use Patents for competitive intelligence. Searching for a specific technology and seeing which companies are gaining an edge in this space is only one method.
Clicking into a company profile and navigating to the Patents section will show you a similar layout.
You can view the patents that the company has applied for to gain an understanding of what your competition is investing in.
Learn more about our Patent Analytics tool and how it works here.