Technology is growing at a staggering rate and there are new technologies and inventions being discovered daily. That said it can be difficult to keep track of all these inventions and technologies being created. Even if the product or idea has not been created yet, it could already be in the process of being invented as inventions take years to be created. This is due to the fact that it takes a lot of research and development before a certain product can be created and then released onto the market.
Patent Companies have the opportunity to invest in these creations or ideas. The reason behind the investments from companies is to eventually start making a profit off the idea once it has reached the market. A patent map helps the companies or investors to see if this idea is worthwhile or not. A patent map is an illustration which shows in which areas a certain field is lacking. Say for instance your invention idea has to do with the information technology field, the investors which you approach with your idea, will then have a look at a patent map in order to determine whether your invention is in a field that is lacking in this certain sector.
After they have determined whether your idea fits into the criteria of the lacking field or not, they will then make a decision based on the viability of your idea. This means that they will either invest in the product if they believe that it is worthwhile or they will not invest for the reason that your idea fits into the bracket of the saturated market. However their decision will not be solely based on the patent map. There are also other factors that will determine whether they decide to invest or not.
Other factors that will factor into their decisions include; market projections, market projections help these investor companies to decide whether there is a market for this product or not as described on https://southfloridareporter.com/how-inventhelp-can-assist-with-new-invention-ideas/. Profitability, as most things nowadays, the decision revolves around money. These companies want to know that the money they invest in certain project will give them a return or not.