What Are Patent Monitoring Services?

Patent Watch Services Could Be Vital to Your Business

Patent monitoring (also known as a patent watching) is an important tool for businesses that rely on technology and want to stay ahead of the competition.

In essence, ‘patent monitoring’ means regularly checking new published patent applications, granted patents and legal changes to help make smart business, legal and research decisions.

By keeping an eye on the patent world, businesses can see what their competitors are doing and plan better. Spotting issues early helps companies take advantage of new opportunities and avoid problems.

Keeping up with competitors

Monitoring newly published patent applications lets businesses see what their competitors are working on.

This knowledge can help with planning, developing new products and spotting new technology trends.

By looking at patents in certain fields or from certain companies, businesses can become mindful of possible risks (such as copying another idea) or see if a competitor is moving into a new area.

It is also important to keep track of patents that have been granted. This shows how much protection a competitor has, which might mean a business needs to challenge a patent, amend its product or even request a licence from the competitor in order to use the patented technology in business.

Reducing legal risks

Monitoring patents helps businesses make sure they are not accidentally infringing another party’s patent (this is called “freedom to operate”).

Since patents are always being filed then old checks can quickly become outdated.

Keeping up with new patents means companies can spot problems early and make changes if needed.

Checking legal events such as whether a patent is still valid or has been renewed helps businesses know if they are at risk.

Watching your own patents

Companies should also check whether their own patents are cited as prior art for new applications.

If competitors are working in the same area, this could mean it is time to work together or at the opposite end of the scale it could mean taking legal action. It also shows that a business’s research is having an impact.

For those companies without legal representation, they will need to keep an eye on their own patents’ legal status to avoid missing important deadlines which could mean losing protection.

Spotting new opportunities

Analysing patent trends over time reveals sectors with limited patent activity. These are often referred to as “white spaces” and may present promising opportunities for innovation or product development.

Furthermore, monitoring these trends enables organisations to direct research efforts toward emerging areas, while strategically avoiding oversaturated markets.

Making the most of patent monitoring

Patent monitoring should be part of a bigger plan to manage and improve a business’s collection of patents.

It identifies areas that may require improvement, old patents that could be sold or even new opportunities.

It also supports innovation by highlighting new technology, inventors and up-and-coming companies to watch.

Using technology for monitoring

Given the vast number of patents globally, organisations increasingly employ advanced technologies such as artificial intelligence (AI) to monitor patents efficiently.

These systems analyse extensive datasets, issue notifications regarding significant developments and facilitate the identification of market trends or potential gaps.

Different ways to monitor

• Subject monitoring: Watch what’s happening in a certain technical area to spot trends and avoid repeating work.
• Applicant monitoring: Keep track of patent applications filed by particular companies or people to see what your competitors are doing.
• Application monitoring: Focus on ongoing patent cases if there might be a legal challenge.

Costs

The price of monitoring depends on where you want to watch and what you want to track.

For example, watching patents in a field across the UK, Europe and internationally might cost anywhere between £1,000 – £2,000 per year.

Tracking by company name is usually cheaper, around £300 – £500 per company per year. More detailed checks cost extra.

Overall

Patent monitoring is a critical component of effective intellectual property management. It provides valuable legal and commercial insights and mitigates risk.

Whether tracking competitor activity, watching your own patents or identifying new business opportunities, a robust patent monitoring programme ensures that your organisation remains informed and responsive to developments in the patent landscape.