Competitor Benchmarking

Home / Competitor Benchmarking
Standard Essential Patents

Competitor Benchmarking

Competitor Benchmarking refers to the process of comparing your company’s performance in terms of business, sales, profits, market strategies, products, services offered, customers, investors with that of your competitors. Competitor benchmarking aids in the identification of a competitor’s strengths, weaknesses, and market potential. Competitor benchmarking keeps you up to date on what your competitors are up to, and you can leverage their insights to improve your own product. By keeping an eye on competitor’s IP, you get to know about new inventions in particular technology or domain, being focused by your competitor. A comparative benchmarking analysis of various competitors based on R&D activities, current trends, new product/ technology development activities, key inventors, and patent application filing trends can help to identify new business opportunities and threats. Therefore, in order to stand out from the crowd, it is imperative to identify competitor’s performance and develop product lines accordingly.​

Challenges Faced While Benchmarking Your Competitors

As large set of data is to be analyzed, so a well structured approach is needed.

Complete manual research & analysis resulting in a higher cost of review.

Limited search capabilities reduces the scope of covering comprehensive dataset related to benchmarking criteria.

Insights are not released through a unified platform, and no interaction with multiple data sources or cutting-edge analytics tools exists.

Our Services

Exhaustive Patent and Non-Patent Searching​

We provide a thorough investigation of prior arts such as patents, research papers, products on different paid/non-paid/our own proprietary databases.​

Claim Chart Preparation for Invalidating the claims​

We assist clients in preparing a solid claim chart that entails a thorough mapping of claims to the identified prior art. 

Our domain experts create strong claim charts to ascertain the overlap of the identified prior art  technology with the patented subject matter. 

Standard Searching​

Our expert team assists clients in finding relevant standards that may potentially invalidate the claim of the patent in question in addition to normal patent as well as non-patent searching.

We also have our in-house standard searching tool from XLPAT/XLSCOUT. 

Native Language Searching​

Apart from English language searching, we have a team of experts capable of formulating queries and performing searching in native languages including but not limited to Korean, Chinese, Taiwanese and so on native databases KIPRIS, J-PLATPAT, TIPO, CNIPA, ETC.

FAQ

Our Methodology

Competitor Benchmarking

The main aim of the invalidity search is to unearth conventional wisdom that was likely overlooked by the examiner, which may potentially question the novelty or non-obviousness or inventiveness of the patent. ​

understand icon
AnalyseтАЛ
mitigate icon

Understand

Analyze

Mitigate

Our Methodology

  • Identification of target technology/Sub-technology domain(s) by analyzing the client’s portfolio.

  • Understand your product portfolio and identify relevant portfolio of focus

    Mining of IP Data & Commercial Data for each targeted technology/sub-technology domains.

  • Understand your product portfolio and identify relevant portfolio of focus

    Identification of Top Players/Companies based on the IP Data & Commercial Data and Perform Top Company’s Analysis & Profiling.

  • Understand your product portfolio and identify relevant portfolio of focus

    Determination & Creation of key parameter metrics for benchmarking.

  • Compare Client’s Portfolio with the top players/companies against the determined key parameter metrics.

  • Key Insights based on the comparison & profiling.

Why TT Consultants?

Internal tools to make large PDFs searchable with proximity operators​

Image based search and Native search provision.​

XLSCOUT Patent Invalidator+ Tool – AI & ML Driven First Cut Analysis​

In-house knowledge/keywords Database (Technical Corpus)

Blend of Human & Machine Intelligence - Use of BERT, NLP, Cognitive Computing, ML etc. in initial screening of results.

Standard Search - In-house developed Standard Search tool for better searching within long documents​.

In-house video search tool which extracts all the relevant videos, scrapes the captions/subtitles and makes it searchable in limited time.​

Experienced Team comprising Ph.D. holders, Indian Patent Agents and Masters degree holders from reputed universities having expertise in core domain.​

Clients Testimonials

+
Quality Projects Executed
+
Years of Experience
+
COUNTRIES

Impact Stories

Blogs

Blogs on Competitor Benchmarking

Get the Latest Technology Insights with our Industry Focused Blogs

IN THE NEWS

FAQs

It is the process of comparing your company with your competitors based on a specific metric. For e.g., Rather than for the entire company of interest, patent statistics and targets are calculated for each division/tier one business/strategic business unit . This enables each division to create competitive criteria and aims in reference to its competitors. The competitive criteria remains same for all the competitors for benchmarking.

You can monitor your competitor’s activity and can extract insights to improve your own product. Further, competitor benchmarking provides SWOT analysis of company of interest through which you can explore new business opportunities available in the market .​

The four ways of benchmarking has been described below: ​

Top-Line benchmarks includes evaluation of a company's performance with regards to sales. ​

Bottom-Line benchmarks includes assessing how well a company has done in terms of profits. ​

Operating benchmarks includes evaluation of a company's performance with regards to its costs. ​

Strategic benchmarks evaluates how well a company has performed against its own goals.

Competitive benchmarking is an effective tool for improving your business performance. However, this can sometimes mislead you from your business objective. For e.g., suppose your competitor is using cheap quality of product and if you adopt that product type in your company, this may not be fruitful for you. So, in that case there is risk associated with implementing insight extracted from your competitor’s activity. Hence, before make any amendments in current strategy, future challenges should be considered, and business strategies should be planned accordingly..​

Companies, R & D Managers , Patent Attorney, strategy makers and IP counsellors should keep an eye on their competitor’s patent activity. This monitoring of patent’s activity helps in identifying the technical area being focussed by your competitor.​

FAQ

Related Services

Patent Portfolio Commercialization

Patent Infringement Search

Patent Portfolio Optimization

TOP

Request a Call Back!

Thank you for your interest in TT Consultants. Please fill out the form and we will contact you shortly