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Latest trends in the oil and gas patent industry-converted

Latest trends in the oil and gas patent industry
The oil and gas industry experiences a radical change in the competitive
setting, and businesses are adjusting their rules and strategies to comply. Over
the past decade, elements like instability in oil prices, a decrease of some
reserves, and increased consideration of the environment have pushed the
market to develop and protect creative technologies. You may be working in
the oil and gas industry and looking for strong IP protections for creative
technology to stay competitive in the middle of instability and uncertainty.
Here we discuss how the use of Oil and Gas Patents has changed in the last
15 years.
Patent filing has become software-implemented
In the oil and gas industry, injection treatment processes have become
essential, and that made companies use software for digitally simulate
fracturing functions. This helps them better understand the impacts of their
fracture treatments. Sophisticated software technology increases the
industry’s ability to develop better computer models and other software for
oil and gas systems, meaning the software patents for the industry have
become highly substantial.
Patenting trends in the oil and gas industry
Kholder Development is a reputed online agency for oil and gas patent
services. They suggest that the rate of patent growth in the oil and gas
industry, in general, is slowing, but the rate of patent growth for particular
technologies is exponentially increasing. This change indicates that the main
players have shifted their focus towards protecting specific technologies.
Patenting trends in the key technologies
Unlike the general trends in the oil and gas patent industry, the rate of patent
filings for particular technologies is growing faster than that of patents
worldwide. Kent Holder, the founder of KHolder Development identifies
some areas where highest rates of patent filings are found, and that includes
Geophysics, Earth drilling, metalworking technologies, climate change, and/or
mitigation technologies.
It has to be noted that patent filings for earth drilling have exceeded all other
fields. During 2015, around 1465 earth drilling patents were given, which is
1026 patents more than Geophysics. Other technologies, such as
metalworking has also seen an increase in patent filings because it connects
core fields with other specific technologies.
Need for a patent professional
If you are in the oil and gas industry, it is wise to seek the advice and
assistance of a patent professional because he/she can better understand the
oil and gas patent landscape. The above statistics and discussion contribute to
the importance of hiring a patent professional, for example, KHolder, who
better understands both the oil and gas industry and other associated
Kent Holder’s team has extensive experience in filing patent applications in
the oil and gas industry. He has been in the oil and gas patent industry for a
long period and has done patent work for flow control devices, down-hole
logging tools, and other kinds of down-hole production technology. You have
to stay competitive in the oil and gas industry and for that, you need the help
of a reliable and experienced patent professional. Go for it and stay worryfree.