This will give you insights into the innovation strategy of a company or set of companies based on a number of factors.
IP Strategy Radar Map
The Radar Map uses patent information as an indicator of IP strategy. The graph compares the contrasting IP strategies adopted by each of the companies to help discern the technological trajectory and future strategic moves of competitors. The algorithm for the Radar Map was developed in collaboration with the Entrepreneurship Centre, National University of Singapore.
The Radar Map is created using 8 different indicators. They are:
- Quantity-Growth (Growth of Portfolio Indicator) - Growth of portfolio is measured as average annual growth rate in an organization's patent stock.
- Market-Driven R&D (Technology Cycle Time Indicator) - Technology Cycle Time is an indicator of an organization's speed in turning leading edge technology into IP. It is defined as the median age of patents cited as prior art by the reference patent.
- Tech Specialisation (Technology Specialisation Indicator) - Technology Specialisation is measured using the Herfindahl Index which quantifies the degree to which a portfolio is specialised or concentrated in a small number of technology areas versus being distributed across a range of technologies.
- Internationalisation (International Co-Invention Indicator) - International Co-invention quantifies the degree to which an organization's inventors engage in collaborative R&D with inventors outside the home economy.
- Quality-Improvement (Technology Impact Index (TII) Indicator) - Technology Impact Index (TII) is the share of an organization's patents in the pool of highly cited patents relative to its share in total patents. A highly cited patent is one which is among the top 10% most frequently cited in its cohort. A cohort is defined by year of grant and technology class.
- Science-Driven R&D (Science-Based Patents Indicator) - Share of Science-based Patents is another measure of scientific content and is the share of patents with Bibliographic Citations Ratio (BCR) value higher than 50%.
- Tech Diversification (Complex Multi-Technology Patents Indicator) - Share of Complex Multi-Technology Patents is an original indicator to assess the extent of technical complexity in an organization's patent portfolio. A "complex" patent is one which is classified in multiple technological areas in its technology classification field.
- Joint R&D (Co-Patenting Indicator) - Co-patenting quantifies the degree to which an organization engages in external collaborations resulting in joint creation and ownership of IP.
IP Strategy Bubble Map
The Bubble Map (only used in competitive dashboards) is an extension of the Radar Map, focusing on each of the contrasting dimensions of strategic direction. This is helpful for benchmarking the strategic direction of each organization alongside each other and understanding the degree of the orientation.