An Action Plan on How to Make Money Using Your Patents
In this analysis, we give you an action plan that helps you make money from your patent by finding companies that would like to use your patents.
The specialty of this analysis is that it helps you uncover tech areas and companies your patents are useful which you wouldn’t have imagined earlier. There are fine chances that the patents you might have thought are of no use, we could help you find a patent monetization opportunity for them.
For academia, this action plan can help them find industries and companies that could be interested in their patented technologies. Further, as universities and research institutes conduct seminars to create an awareness and usefulness of their patented technologies, the analysis will help them in selection of audience that would have high chances to take a license of their patents.
Boardrooms where actions on our insights get taken:
Some Unwritten Laws we would like to write here to let you know that:
– We can customize an analysis suiting your needs
– We will provide you dynamic reports which your internal team can slice and dice as per its need
– We believe that our work starts, and not ends, when you start consuming our deliverable.
– Until your end objective isn’t met, you will find us right beside you
Here is How We Helped Our Clients:
A US based solar energy company approached GreyB to conduct a scouting exercise to understand limitations in current and disruptive technologies.
1. Identification of Existing and Potentially Disruptive Technologies
We conducted patent and secondary research to identify existing and emerging technologies where we focused on solar technologies under development to predict innovation trends.
2. SWOT Analysis of Identified Technologies
In the second phase, GreyB conducted SWOT analysis to assess their strengths, weaknesses as well as potential for growth.
3.Validation of insights from subject matter experts
In this phase, GreyB validated results obtained through phase 1 and 2 by consulting with industry experts through paid and unpaid interviews. Evaluation of disruptive technologies and their market potential was validated.
4. Future potential of scouted technology
In this phase, GreyB performed deep analysis of market potential of identified technologies to estimate growth of next gen technologies and their impact on current technologies.
Client got a clear picture of what to expect in the solar energy domain over the next few years. R&D and product development teams were able to chalked out next 2 years plans.
Technology Scouting: Material Search
A European nuclear power plant manufacturer wanted to improve corrosion resistance for a vital component of their plant. Typical characteristics of interest for scouting for a new composite were: heat and radiation resistance, chemical resistance, long term sustainability (50-100 years) and extreme stability. GreyB was entrusted with the task of scouting a new material for a critical application like nuclear energy.
1. Identification materials suitable to client’s requirement
In this phase, GreyB conducted patent, scientific literature and commercial search to identify the best materials that have characteristics that are important to client.
2. Benchmarking of identified solutions
- In the second phase, GreyB conducted SWOT analysis to assess their strengths, weaknesses as well as potential for growth.
- A short and long list of materials was provided to client, with supporting data and detailed analysis
Client made an informed choice regarding the material to be used as a replacement for the existing one. The new material was not only more cost effective, but also had better sustainability characteristics, making it advantageous for a long term perspective.
A Swedish oil and gas giant engaged GreyB to conduct a technology benchmarking study on RFID sensors used in the oil and gas industry. Client was also interested in understanding existing and upcoming developments in sensing technology for oil and gas industry.
1. Overview of existing and emerging RFID technology in oil and gas
In this phase, GreyB conducted patent and secondary research to identify current and upcoming technologies in RFID tech catering to oil and gas industry along with key players showcasing patenting
2. New market entrants & their product features
In this phase, GreyB conducted secondary research to identify new market entrants with innovative commercial solutions for sensing current in the oil and gas domain. GreyB identified sensing products based on different core technologies, specifications and applications.
3. Benchmarking based on quantitative & qualitative parameters
GreyB identified key benchmarking parameters which affect sensing performance. Based on these parameters, different technologies and commercial solutions were evaluated, compared and ranked.
4. Market potential of benchmarked technologies
GreyB conducted a market analysis of benchmarked technologies in terms of threats, strengths, weaknesses & opportunities. GreyB also evaluated political, social, economic and technical factors which may contribute towards growth/decline of these technologies.
Client was able to identify the most promising technologies in RFID for oil and gas. This helped to enable their decision of transitioning into a digitalized oilfield for logistics, manpower and asset management divisions.
Technology & Market Forecasting
A US based hardware data storage company asked GreyB to conduct a technology forecasting study to understand future trends in terms of technology as well as market inclination. GreyB assisted client through a comprehensive strategy involving both desk research, as well as primary research
1. Existing & upcoming technology research
We conducted in-depth patent and non-patent literature search to identify existing data storage technologies as well as ongoing research and development in this domain. This exercise also identified key players and their activity in data storage industry
2. Key Drivers & Barriers towards market growth
GreyB conducted secondary research to identify key drivers & barriers affecting the data storage market. Focus was to identify technical, market as well as legal and regulatory barriers
3. Insights from expert Opinion
GreyB conducted paid and unpaid interviews to gain industry insights from leading experts with rich experience in the data storage domain. This exercise served to validate results obtained through patent and non-patent research, as well as gain insights regarding future scope and direction of storage technologies.
4. Future trends & market potential
GreyB conducted extensive market research to identify future trends, estimated market growth, as well as future potential data storage market. Expert opinion served to confirm results obtained through all phases of the study. Data storage through DNA of living organisms was one of the highlights of the exercise.
Client was able to understand future trends and expectations of data storage, both from a technology and market perspective. New technologies like DNA data storage provided a fresh perspective to existing research direction of the organization. Client was also able to identify partners who could help them scale up their R&D efforts.
A global leader in mass spectrometry approached GreyB to conduct a competitive landscape. Client was interested in identifying new market entrants, along with their unique offerings and position in the market.
Client also wanted to evaluate key competitors and their product/technology portfolio
1. Identifying client’s competitors – established players + market entrants
In the first phase, GreyB identified key competitors of client in the mass spectrometry segment, as well as new players who had entered the market.
2. Analyzing competing technologies
GreyB conducted patent & secondary research to identify current and upcoming technologies associated with competitors in mass spectrometry. This helped client asses their technical strength & strategy in comparison to competition.
3. Analyzing competitor positioning in the market
GreyB conducted a detailed SWOT & PEST analysis of competitors to gain insights about their strengths and weaknesses. A thorough assessment of products, solutions as well as financial information helped in understanding their positioning in the mass spectrometry market.
4. Market Analysis of key competitors
GreyB conducted market analysis to identify information regarding partnerships, collaborations and acquisitions of key players in mass spectrometry domain. GreyB identified R&D expenditures as well as future strategies of competitors in terms of customers, product and market.
Client was able to identify competitor strategies w.r.t. market and technology and reassess their current offerings in order to target a larger share in the market.
A US based company engaged GreyB to scout for companies for collaboration on E-Vaping technology. Client also wanted to identify new technologies available in the market that could be helpful in strengthening their product portfolio
1. Identifying companies offering innovative solutions
In this phase, GreyB identified companies offering innovative evaping solutions. Product and financial data related to the companies were presented along with recent developments pertaining to them
2. Identifying current and emerging developments in e-vaping
In the second phase, GreyB identified emerging innovations in the e-vaping sphere by conducting patent and secondary research. Key players active in the e-vaping industry were also identified and presented.
3. Identifying collaboration opportunities in e-vaping
In this phase, GreyB provided insights regarding companies looking for investors and partners for R&D. Research universities with active patenting trends were identified, along with individual inventors and experts in the domain
4. Validation of identified collaborating entities
Companies identified for collaboration were validated in terms of R&D spending, employee strength, patenting activity, funding and other benchmarking parameters. A short list of possible collaboration partners were presented along with a long list.
Client was able to identify a potential partner in the e-vaping space and as well as market and technology trends in the space. Client signed a two year cooperation agreement with a niche player in the industry for research and development support to launch a new product line.
Regulatory & Compliance Intelligence
A leading European company manufacturing laboratory instruments was looking to enter into the Asian market. Client wanted to understand all possible barriers to entry in terms of technical barriers, legal barriers as well as cultural barriers.
1. Identifying technical barriers
In this step, GreyB identified technical barriers for adoption of their brand of laboratory instruments in Asian countries by identifying alternative technologies that currently exist in the market. Key competing technologies were identified and benchmarked.
2. Identifying legal standards & regulatory aspects
In this phase, GreyB identified all legal and regulatory aspects pertaining to laboratory instruments for each Asian country. Data regarding standards, accuracy levels and factors to be monitored were all presented
3. Identifying cultural barriers
In this phase, GreyB identified cultural barriers including business etiquette, color preferences, gifting etiquette, social and ethical behavior and so on. Focus of this phase was to identify cultural differences in the business sphere in various countries of Asia.
Client got a clear picture of what to expect before entering into the Asian market. The information provided by GreyB regarding competing technologies, players, standards as well as market barriers helped client gain a perspective on the current situation in different Asian markets for lab instrumentation.
A US based RFID company was interested in analyzing a competitor’s patent portfolio regarding RFID solutions. GreyB provided a complete 360 degree overview of patent and technology trends of the target company.
1. Identifying all patents in target company’s portfolio
In this phase, GreyB conducted a thorough search of all patents in the target company’s portfolio including patents filed by subsidiaries. All patents pertaining to RFID were screened and analyzed based on a technical taxonomy
2. Providing insights based on filing and technology trends
GreyB provided insights regarding filing trends of the target company, as well as main focus areas and white spaces in the patent portfolio. This gave a clear indication to client regarding the interest areas of the target company with respect to R&D and key patents in the portfolio.
Client was able to understand current and future direction of technology of their key competitor. This made them aware of their own shortcomings w.r.t. the product, and of how to capitalize upon existing gaps in their competitors portfolio.
Client was a leading automotive OEM with manufacturing facilities in Europe, Asia and the US. Client was looking to monetize their patent portfolio by identifying licensees for particular technologies. Client had a complex and far-reaching patent portfolio that needed to be analyzed thoroughly for evaluating the licensing and market potential. Client wanted to open up new opportunities for licensing their innovative patent technology portfolio in a broad range of industries.
1. Analyzing client’s patent portfolio
Client’s patent portfolio was thoroughly evaluated. A broad spectrum of technologies was classified and grouped together. . The most lucrative category was chosen and analyzed for its economic value.
2. Potential licensees evaluation
GreyB conducted secondary research activity to identify companies that could be potential licensees for client. Companies from aerospace & automotive sector were evaluated in terms of technologies & business strategy to identify the right fit for client’s technologies
3. Validation of results
GreyB conducted primary research to shortlist potential licensees for client’s patent portfolio. GreyB was able to develop and leverage an attractive business model to pitch to potential partners for client’s technology through a well-structured and transparent approach
A leading global automotive manufacturer inked an agreement to gain access to client’s technologies. GreyB was then chosen as the vendor of choice to map and bring to market client’s technologies across multiple industries and geographies.
Player Ecosystem Analysis
A German based chocolate manufacturer wanted to open shop in India. They engaged GreyB to help them understand the business ecosystem for chocolate business in India.
1. Identifying the value chain
In this phase, GreyB identified the entire value chain in terms of manufacturers, distributors, vendors, sales channels, marketing channels, raw material suppliers and end users. This gave client a complete understanding of chocolate business in India. Identifying the value chain and different components of a diverse, local and complex ecosystem was a key aspect of the project.
2. Identifying competitors
In this phase, GreyB conducted secondary research to identify top competitors to client in Indian market. Product offerings, mergers and acquisitions, sales and marketing channels of competitors were analyzed in depth to provide timely and actionable insights.
Client was able to put in place a solid business plan using the ground-level insights provided by GreyB. This exercise provided client with an in-depth understanding of all the components in the ecosystem for chocolate manufacturing in India.
A Swedish oilfield services and products company engaged GreyB to perform due diligence procedures on a company for acquisition possibility, a drill-bit manufacturer. Client wanted to validate results obtained from internal due diligence teams.
1. Gathering company related data – Historic
In this phase, GreyB collected historic data related to inception of the target company. Academic qualifications of founders, their experience, board of directors and history of investors/advisors was compiled in this phase
2. Information regarding customer base & financials
In this phase, GreyB conducted secondary research to identify existing customers of target company. Focus was also to gather data regarding financial information of the company, and investments, acquisitions and collaborations with various entities
3. Patent portfolio evaluation
In this phase, GreyB conducted a thorough investigation of the target company’s patent portfolio, including assessment of their strength in terms of number of families, technical coverage and scope, geographic reach, citation strength and so on.
Client was able to objectively assess the strengths and weaknesses of the company of interest. Based on various quantifiable parameters, client was able to make well-informed decision regarding acquisition of the company.