Once a viable product idea has been, identified, step-wise process of research begins. Our major research steps are defined below.

Step One: Prior Art
Step Two: Market Research
Step Three: Competitive Analysis


Step One: Prior Art

Our first step is always to conduct a thorough prior art search in order to understand competing products and technologies in the field and assess the current state-of-the-art. This provides a benchmark from which our engineering and design team can begin to develop the product to its logical conclusion, as well as informs our patent expert as to the patentability of the product and the possible scope of its claims. It is important to note that many ideas are found to already exist at this stage, saving us the time and expense of pursuing a project that would not result in the sale or license of a patent.

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Step Two: Market Research

A common mistake of many product developers is to proceed with developing and patenting a product before a comprehensive market analysis is conducted. Is the market large enough to interest a potential licensee? Can the product be manufactured cost effectively enough to compete in the marketplace? What regulatory standards must the product adhere to? The answers to these and other questions invariably uncover important considerations that help guide our engineering and design efforts, gauge the product's likelihood for success, and form the basis of our sales materials.

However, industry data may also indicate the project should be put on hold or abandoned. For example, an anticipated shift in platform standards may make a new innovation in the old platform obsolete. By performing our market research early on, we are able to identify projects that are inherently problematic and should be abandoned before devoting too many resources to it.

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Step Three: Competitive Analysis

Finally, a careful analysis of the competitive landscape is conducted to identify potential licensees and create an appropriate licensing strategy.

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