Competitive intelligence - Fay Sharpe

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INSIGHTS

LEGAL AFFAIRS

Competitive intelligence How to monitor business rivals with a competitive intelligence program

C

ompetitive intelligence aims to provide as much insight as possible into the trends of an industry and into the strengths, weaknesses and current activities of direct competitors. Such programs can be as simple as monitoring the intellectual property (IP) filings within the U.S. of a single competitor, or as sophisticated as gathering and analyzing IP information for many competitors in different countries. Either way, there is business value in establishing and maintaining a competitive intelligence program to understand how competitors are behaving through their IP habits. Smart Business spoke with Matthew P. Dugan, a partner at Fay Sharpe LLP, about competitive intelligence programs. What is competitive intelligence? The term refers to a program to develop and maintain a body of data and information that can be organized and analyzed to provide a better understanding of one or more aspects of a company’s business environment. The analysis can provide a broad, high-level view of an industry by identifying trends in a particular area of technology. It also can give a focused view of the activities of a particular competitor or group of competitors. Often, the strategy includes both. What types of information are included? Information described in patents and published patent applications often form the backbone of the program. While records from the U.S. Patent and Trademark Office are easily accessible and can provide valuable data for a competitive intelligence program, in some cases other sources may provide access to information on a shorter time frame. For example, companies with foreign competitors should consider searching for

MATTHEW P. DUGAN Partner Fay Sharpe LLP (216) 363-9167 [email protected]

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patent applications in the competitor’s home country, since patent filings are often made and published there before a corresponding U.S. application is available for review. Is just the technical information of the patent documents evaluated? No. Often, useful information can be ascertained from what patents and patent applications a competitor decides not to aggressively pursue. So, once a potentially relevant patent application is identified, the application’s progress can be monitored to try to determine whether the competitor is moving away from that technology. With such an assessment, it can be helpful to ask: ■ Has the competitor continued to pursue its initial patent applications for a new concept? Or, did the initial applications go abandoned without further activity? ■ Did the competitor file just a single application for this new concept? Or, did it file a whole family of applications that cover a variety of aspects and variations of the concept? ■ Did the competitor pursue patent protection in a very limited number of countries? Or, did it go to the expense of filing the application all over the world? What other information can be included? News and announcements, regulatory filings and even domain name registrations can add

to the overall effectiveness of a program. Useful insight can be gained from the trademark and service mark applications filed by a competitor. They are normally available within days or weeks of being filed, so a company can be alerted to the possibility of activity by a competitor much earlier than by monitoring patents alone. Also, in cases of new products and product lines, trademark applications are often filed in the U.S. based on an intention to use the trademark or service mark with a particular list of goods or services. Such information can be useful in determining that a competitor is working toward offering an updated product or expanded product line. Why should a company undertake a competitive intelligence program? Insight gathered through a competitive intelligence program can help business leaders make more informed decisions about a company’s strategic direction and where to focus marketing and product development resources. It can help identify trends in the evolution of existing technologies, which can impact existing product lines; find developing technologies near core businesses, which could lead to new products and business opportunities; and identify new or emerging players in the industry, which can help in preparing for new competitive threats and eliminate surprises. ● © May 2013 Smart Business Network Inc.

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Competitive intelligence - Fay Sharpe

INSIGHTS LEGAL AFFAIRS Competitive intelligence How to monitor business rivals with a competitive intelligence program C ompetitive intelligence a...

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