The success of Air Products & Chemicals Inc. is dependent on the delivery of innovative new products in the U.S. and overseas. This requires an R&D portfolio of cutting-edge projects that is technically superior to that of the global competition. This requires careful tracking and screening of reams of patent data relevant to their industry. This can be prohibitively expensive and time-consuming. The company was challenged with allocating its limited R&D resources wisely while still fulfilling market expectations.
How CIMS made a difference:
A CIMS researcher developed a novel method for extracting and evaluating data from patents filed in the U.S. and other countries. As a CIMS member, Air Products & Chemicals had early access to the tool, and worked with the researcher to incorporate it into their internal R&D portfolio development process. This enabled them to get a vivid look at the relevant intellectual property landscape and the vertical markets they served, thus increasing the technical competitiveness of their R&D program.
Air Products & Chemicals was able to extend the value of patent information to new levels. Today, the company is an industry leader in patented technologies and patent intelligence, thanks in part to the tool and the creation of a highly respected competitive intelligence activity.