Market Research – Why It Should Be Considered Before/During Prior Art Search

An invention is a set of ideas and thoughts to ease the way people perform their daily tasks. An Inventor can be a business or an individual who has an objective behind the invention. A lot of money is required to present the invention to the world, thus, investors who find it interesting fund the R & D operations.

The invention process is very wide. There is no fix time when an invention is converted into useful products. It can take 5, 10 years or even more. The R & D department performs a series of operations one after another – describing the business vision, creating strategies, describing the R & D processes, identifying resources, and drafting designs. The R & D teams comprehensively study all areas of the invention, collect different ideas, which are then combined to build products and services. Thus, the research to development of invention comprises a wide range of processes, which need thousands or millions of dollars.

Patenting an invention

An invention is patented to prevent it from being theft by others. The inventor can restrict individuals and companies from using his/her invention for making or selling products during its life. When filing a patent application, the inventor needs to mention a set of claims, which he/she should choose carefully. So, it is recommended to know the market trends, new technologies, applications, etc. at the time of performing the R & D operations, which will help in getting great claims.

An invention can only be patented if it doesn’t contain any part of the previously patented technology and meet certain uniqueness standards. To find if your invention is already known or not, prior art search is conducted. The innovator can do prior art search on his/her own, or hire an expert for this purpose.

What is prior art search?

Prior art search can be defined as collecting information about the technologies associated with the invention. It’s main objective is to know whether the invention is patentable or not. Sources of prior art search include previous patents, filed patents, scientific reports, research papers, textbooks, newspapers, journals, and internet publications. There are many inventions that are never used in products and services, and these should also be considered during the patent filing process. On the internet, a wide range of tools are available that can help you conduct an efficient prior art search.

Prior art search can provide details about previous inventions in the field, new products and services, etc. It prevents reinventing the already existing inventions. With this, the R & D department can know the already existing technologies, and focus the activities, processes, and tasks to innovate them or research the new ones.

Know the market well before conducting prior art search

The main objective is to get the invention patented with broadest possible claims. Prior art search collects existing knowledge in the fields that belong to the invention. But, this is not enough. One should know the market and companies that are already working on the technologies the invention is based, which will help in choosing the right areas for R & D.

Patent filing is a broad process, and a little wrong move can convert into a big mistake. Thus, from planning to execution, every step should be put wisely. Before going for prior art search, it is important to know the markets in which the invention can bring revolution in, current market trends to focus on, activities of competitors, etc. All these details can be obtained through market research. Thus, it is recommended to conduct a market research first to know the technologies trending in the market.

Why market research?

Market research can help in proper utilization of all the elements of an invention. It provides comprehensive analysis of different markets associated with the invention, patent environment, and existing and future products. Thus, market research can add value to the research and development operations, making them more advanced.

There are many reasons why the inventor should consider market research before starting R & D operations and prior art search. Please have a look at them –

Detailed information about the markets:

Market research reports not only provide information about different markets that belong to the area of invention, but also tell the top active markets. Suppose, an invention can be used in manufacturing products in 10 different industries, out of which 7 are in the growing phase. Thus, there is need to spend extra time and money to obtain patents in these 7 industries to get maximum ROI. Thus, market research reports can suggest you the right industries to continue research and build products.

Competitor analysis:

To emerge as a leading player in the market, it is necessary to know the activities of competitors. With market research reports, the inventor can get in-depth understanding of his/her competitors, technologies they are working on, and their existing and upcoming products and services. Thus, the R & D department can broaden their research to the areas untouched by the competitors.

Helps in patent drafting:

Patent drafter is the person who can help you get a patent with great claims. With extensive knowledge of market trends, active industries, and customer needs, he can write broadest patent claims possible. Thus, with market research reports, your patent drafter can prepare a clear, accurate patent application, and your get a patent, which will have great market value, and you can earn a lot from it.

Top players:

Market research reports provide information about the top companies using the technologies similar to that of the invention. This makes easy to know how advanced the invention is, the technologies that can be innovated, and how to plan R & D processes. After obtaining the patent with significant claims, the inventor can contact the top companies for business partnerships or licensing.

Why OpenTaps Is Best for Small Business

OpenTaps is an all in all business solution for business organizations. It is an open source tool that is used as a combined source of ERP and CRM solutions for business houses. OpenTaps is free and enables multiple features and functionalities that a business house may require such as warehouse, inbuilt business intelligence solutions, e-commerce, point-of-sales, general ledger, customer management, accounting, mobility integration, and online store. This low cost ERP and CRM solution is integrated with several additional plugins like Google calendar, Microsoft Outlook, and mobile phone. Integrated with Apache OFBiz Foundation, this tool is flexible to use and customize.

There are four basic components in OpenTaps software that works hand in hand to operate all business processes. They are teamwork processes, unified database, operating process, and enterprise teams. These components work in a cyclic manner in order to connect the business processes with customers.

Features of OpenTaps:

The features of OpenTaps software are mentioned below:

  • It is a software that functions as a complete business solution including CRM and ERM systems in an organization.
  • It includes marketing, sales, accounting solutions along with managing all customer services.
  • Supports online and offline stores, and their catalogs, products, and categories.
  • It looks after cross-sells and up-sells of production within an organization.
  • Offers support to product management in various ways such as downloadable products, configurable products, physical products, variant products, and digital products.
  • It sets separate prices for groups and individuals.

Opentaps is one of the favorite ERP and CRM solutions for most of the small and mid-size companies. From the above discussion, it is evident that it provides a number of solutions besides ERP and CRM solutions. Given below are the reasons why it is opted by small enterprises.

  • It is an open source CRM plus ERP system. The small and mid-size business houses do not need to bear additional costs for integrating separate ERP or CRM solution for their business. Moreover, registration and downloading fees are also saved.
  • It is a very low price ERP CRM tool. This one solution facilitates small businesses to use all its features with also no fees. This helps them to fix their budget for business more efficiently.
  • It runs on an automated system. This feature helps business houses to save time and costs, and resources of the enterprise.
  • Runs and supports a dynamic system, since it is a real-time software. The solution can be accessed from anywhere and anytime on the web within the organization.
  • Offers proper security within an organization. It has a strong security plugin.
  • It is supported by an expert and skilled group and developers.

Social Media Marketing: A New Business Prime Mover

What Is Social Media Marketing?

Almost half of more than 2 billion people who regularly use the internet are addicted to Facebook. Using the social media outlets like this one has been a recent phenomenon, interlinking people through a cyberspace process. And this is the main reason why businessmen should consider social media marketing as a new prime mover of their business for them to hit ‘profit.’

Social media marketing is a process giving multiple benefits to business owners by way of using Facebook, Twitter, Pinterest, Google +, LinkedIn or Tumblr Accounts to promote brands of products and services. People are very much aware of these social media channels. For this reason, the business owners can expect an incredible increase of their sales volume that is denoting income.

Comparing it to the conventional way of promoting business brands, i.e. the use of televisions or radios, this newly-discovered method is more powerful in one way or another due to several factors such as:

1. No territorial boundary;
2. Greater market;
3. Lesser investment; and
4. Simultaneous promotional actions.

How Does This Prime Mover Work?

The first factor talks about the spatial aspect. Applying this technique does not put limitation on where should and where should not. There is no delineated and surveyed market territory where a particular business is only allowed to operate. The main medium is the internet and it penetrates almost every geographical line of the four hemispheres of the world.

The second factor emphasizes quantity. Try to imagine that in a traditional way of promotion, let say TV, it is only feasible to tap those people in a certain locality who are watching the primetime show with the advertisement of this product during commercial breaks. The difference now is that, it might be more doable to persuade more people simultaneously about particular brands through the social networking sites.

The third factor implies ‘money’ used in the promotion. Paying television networks needs big additional capital. However, opening a Facebook page is free. What is important is to learn about the dynamics of this promotional technique. In fact, there are people who are earning by opening a simple online store in FB.

The last factor elucidates time. Simultaneous action is indicated in this methodological application. Try to imagine that it is possible to have a lot of social media accounts. And instantaneously, it is probable to promote products and services using those accounts.

It is quite simple to analyse. The factors being considered are place, people, capital and time. No businessman will tend to neglect these aspects. They are the known as the business pillars. With the presence of social media networks, generating what a businessman calls ‘profit’ has a greater feasibility. Social media serve as the new prime mover of business.

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