Sagacious IP has been one of the oldest players in the global market and is currently also one of the largest firms in patent research and monetization support business across the globe. The company has had the opportunity to work with a diverse set of clienteles from over 45 countries, including most of the industry-leading corporations and IP lawyers.
Mr. Tarun Kumar Bansal, the President, is a master brain behind the company that is fast emerging as a trustworthy partner for its IP clientele worldwide and is one of the front runners in Intellectual Property service providers’ community.
Here are the highlights of the significance of offering unique and top-notch Intellectual Property consulting services, staying client-focused, the growing need to adapt to technological advancements, the company’s recipe for success and more.
Sagacious IP is an award-winning Intellectual Property research and consulting firm which offers innovative solutions and services to the global innovator community. The company has been successfully solving business challenges for Fortune 500 companies, IP Law firms globally, start-ups, investors, universities, and patent licensing agencies. It has customers in over 45 countries and has completed over 12,500 projects in more than six languages.
Recently, Sagacious IP bagged the Global Business Excellence Award for devising an innovative model that enables companies to manage their large patent portfolios more efficiently, by leveraging a mix of Artificial Intelligence (AI) and manual analysis by experts. The company was recognized for its outstanding achievements and innovative solutions by CNBC TV18 in 2014 and by Red Herring in 2015 (Top 100 Asia). It was also selected as a Great Place to Work in 2018.
Hiring skilled candidates who possessed sound technical knowledge and took complete ownership of the customers was the biggest hurdle initially. This was necessary because as the work increased, finding skilled people who can be trusted to deliver the same quality of work was very critical.
The co-founders and Mr Bansal were managing the operations leaving them with no time to do further business development. Therefore, getting on board the initial set of employees who completely took control of operations, leaving them with time to develop business was crucial for growth. Later, getting one great person who helped them with business development efforts led to a very fast growth unparalleled in our industry.
Growth Since Inception
Sagacious IP has experienced constant organic growth since its foundation, thanks to a wide client ecosystem and a world-class team.
Since March 2015 till now, they have registered a revenue growth of 221%. In terms of employee strength, their team has grown by 263% since March 2015.
According to Mr Bansal, the major responsibility of an entrepreneur is to have a clear understanding of the changing market needs, being in touch with current/ potential customers, be agile and make decisions quickly.
The Reason Behind Sagacious IP Long-Standing Success
The main reason behind the success of the company is its customer obsession, agility and environment of trust within the organization.
This exposure of working with such diverse and industry-leading clientele has given Sagacious IP a unique perspective of industry best practices as well as an in-depth understanding of the actual needs of customers. The company has accordingly gathered an industry-leading team along with the best processes/ protocols/ tools.
Furthermore, working with multiple customers on thousands of projects every year, Sagacious IP has created a very large repository of manually analysed data of patients. With advent of computing power and ML/ AI tools, the company has utilized this data to develop best-in-class analytics tools (to support its people and processes deliver better results) that are not available with any other competing company. With a seasoned team and expertise, Sagacious IP has climbed the ladder of success since 2008 where it started with just 3 employees in a small room in Gurgaon. Now, it has more than 300 employees in offices located in multiple cities, including Gurgaon, Bangalore, Shanghai, Tokyo, Eindhoven, Chicago, Seattle, and Toronto.
The company focuses on customer problems, remains agile to take care of sudden client demands which may or may not be part of the agreement (essentially puts clients first), and evolves as per the market needs. A positive step in this direction is the launch of new products based on the market trends and on boarding people who drive new solutions and deliver what customers need.
Sagacious IP services/solutions span the entire IP lifecycle, helping clients to develop, create, maintain, enforce and monetize their intellectual property. They serve many of the world’s largest companies, law firms, and other institutions – working with them to defend IP litigations and providing information to ensure they lead innovation in their industry and achieve most out of their IP budgets.
Main services include:
• Global Patent Search and Information
• Patent Portfolio Management
• Patent Monetization, Acquisition, and Licensing
• IP Filing, Prosecution, and Strategy (India)
• Patent Docketing and Paralegal
• Technology Scouting and In-Sourcing
Notably, the company offers IPR research solutions to foreign companies. These companies with large portfolios need solutions in terms of licensing and management. Patent data helps decision-makers make informed business decisions and long-term strategies. Furthermore, clerical processes are now being outsourced in India, supporting them cost-effectively.
The Company Taking Further Steps With
To take the company a step further in terms of products/ services, Sagacious IP makes deliberate changes by reading customer sentiments and engaging them proactively to drive innovation. They are trying to create a complete ecosystem that offers end to end solutions and adding new projects almost every year.
Sagacious IP listens to their customers, asks for constant feedback which helps in understanding the customer challenges and needs. To hasten this process, they are creating a ‘Customer Advisory Board’ that will focus on guiding our next set of products and services.
There are different ways in which Sagacious IP ensures effective results, including, but not limited to, process-oriented thinking and complete transparency. The former leads to innovation in built-in processes which help in making us creative to meet client expectations. Complete transparency, on the other hand, leads to better results owing to seamless communication with the clients and internally.
Sagacious IP realizes the fact that technology is taking over and we are using this is as an opportunity to advise customers and create newer markets. Sagacious IP is investing in the right technologies to stay ahead in the market.
Significant Use of Technology
Technology doesn’t work in silos, so Sagacious IP is introducing technology to optimize services and combine it with manual expertise.
Technology has proved to be a catalyst in the company’s processes. For instance, they have started an initiative “IT for IP” for customers who are struggling to implement the technology. This service helps them to optimize their processes around IP with process automation. Further, Sagacious IP is also able to reduce costs and in-turn deliver more cost-effective and better solutions to the customers.
Professional Experience & Key Achievements
Mr Tarun Bansal is a Microbiologist by education from BITS, Pilani. He started his career in researching drugs for TB in a drug discovery lab. Next, he worked in IT sector to learn the latest technologies and automation and worked in a government research institute that was studying the correlation of patent filings with country’s economic growth. Since then he has been a part of the IP industry.
He says, there are numerous perks of being an entrepreneur and especially in a field related so much to innovation. It keeps him updated on the recent developments across all verticals, helps him stay in close contact with decision-makers and research the global best business practices.
Sagacious IP is the forefront of innovation and interaction with decision-makers is always fulfilling. They value our advice and judgment which makes it special since we are offering advice to innovators and decision-makers in their respective fields in turn directly contributing to innovations that are changing human lives each day.
About The Team
Sagacious IP has a very flexible way of working which gives employees the space they need to grow. The teams are diverse in experience and technology expertise. Further – considering the average age is under 30 – it really makes the team energetic and dynamic.
Mr Bansal believes in trusting people for making the best decisions. His philosophy in life is – Trust unless someone proves they are not trustworthy. Hence, constant vigilance is nor a need neither a strategy when there is trust.
Sagacious IP do not constantly watch the competition and learn from market trends. Their focus is to improve what they are already doing and provide better service to clients rather than focusing on competition and rat-race. Mr Bansal says, “I see that market is vast and if we provide reliable and quality offerings, there is no need to worry about competition.”
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