In an article published in Startups Magazine, Myddleton’s client provides guidance to small businesses on the benefits of tracking their competitors’ intellectual property.
As businesses develop, so do their ideas and offerings. This often leads to an expansion in a business’ Intellectual Property (IP) portfolio. Due to the public disclosure associated with IP rights, monitoring competitors’ application filings may provide insight into their future offerings and business direction. Businesses may then use this to inform your own business strategy, for example to launch competing products, or avoid an overcrowded market segment.
The article in Startups Magazine provides an outline of the benefits of tracking a competitors’ IP. You can read the full version on their website.