Patent Mining
About the service
Businesses all over the world are making significant investments in growing their patent portfolios, and only through efficient portfolio management can the true value proportion of this IP investment be determined. Businesses must make use of their patent portfolio in order to capitalize on market opportunities that arise from the exploitation of their patent-protected technologies. Effective services assist these businesses in locating important patents within their massive portfolios and offering strategies for licensing and litigation to make money off of these inventions. In order to acquire patents that meet specific requirements, we help businesses that are searching for them find them. In its broadest definition, patent mining serves the straightforward goal of mining a particular group of patents that correspond to the technical and/or business-specific constraints that clients have specified.
Methodology
The following actions are taken in order to mine patents:
Definition and Prioritization of the Technology Domain
Choosing the technology domain on which mining is to be done based on the project specifications or as specified by the client.
Information Gathering and Patent Recovery
Gathering pertinent patent information about the technology domain by using search engines and patent databases.
Preprocessing and Data Cleaning
Eliminating errors, redundant, and irrelevant patents from the gathered patent data. Additionally, standardizing the structure and format of the data will guarantee consistency and facilitate analysis.
Categorization and Evaluation
putting the identified data through classification and scoring.We use both manual analysis and semi-automated scoring.
Solution that is semi-automated
Both objective and subjective factors are used in this score system, including market segment and size, number of independent claims, claim length, detectability of overlap, and forward citation.
Manual resolution
All of the semi-automated approach’s parameters are included in this score system, but it also expands the analysis to include more arbitrary criteria like remaining life, the number of international family members, the availability of living family members, the number of office action answers, etc.
Total Points
Assigning each patent a cumulative score determined by the parameters and their relative weights, then classifying the patent portfolio based on the score.
Evaluation
We can also do in-depth analysis on the portfolio’s highest-scoring patents based on the project requirements (such as an infringement search).
Why Choose us?
With engineers, bachelor’s, master’s, and doctoral degrees from a range of technical backgrounds, including computer science and information technology, electronics and communications, electrical, mechanical, chemical, biotechnology, pharmaceuticals, and life sciences, we have a team of skilled workers.
- Finding and utilizing the full potential of our clients’ intellectual property assets is our area of expertise. Our manual analysis and software technologies assist in locating high-potential patents that merit the client’s time and money.
- We have team members with expertise in software domain tools to examine intricate source codes, as well as team members with experience in standards, telecom, and Wi-Fi technologies.
- We utilize an internal rating system to assess the strength of the patents. Using ten essential criteria, such as forward citations, litigation status, family legal status, geographic coverage, etc., our ranking tool calculates a patent’s worth. The tool’s patented algorithm evaluates each patent’s strength by giving varying weights to the important characteristics depending on the user’s business circumstances.
- We offer specialized pricing schemes based on the needs and the budget.
Case Study
One customer, a large technology business that specializes in cloud-based services, wants to expand its cloud computing intellectual property portfolio. They specifically sought to get patents that may enhance their current offers and were pertinent to their cloud-based services. We were asked to complete a patent mining job by the client. We found pertinent cloud computing-related technical domains, keywords, and patent classifications. Additionally, we extracted the patents of several assignees, inventors, and minor market participants using these keywords, domains, and classifications on patent databases. By applying the calculated score with the necessary criteria and doing some human analysis, we were able to further refine the good patents from the portfolio.
One customer, a massive technological company with a large portfolio of patents, wanted to maximize their intellectual property (IP) assets to match their business objectives and find monetization prospects. The customer requested that we conduct patent mining on their portfolio and subsequently conduct infringement analyses on the patents that were most successfully mined. We exported the portfolio and used our scoring algorithm to sort the patents that were most likely to be infringed. In accordance with the specifications, the score was determined by allocating the proper weight to the pertinent parameters. We chose the portfolio’s top patents for an infringement search based on our scoring and analysis.
One customer, a consumer electronics company, wanted to find patents on wireless earbuds through a patent mining study. For the same, the client requested that we complete the patent mining job. We used patent databases to extract patents from several assignees and inventors by identifying pertinent technical domains, keywords, and patent classifications pertaining to wireless earbuds. As requested by the client, we used the manual scoring system to further improve the retrieved patent portfolio. The client was given access to the top-scoring patents along with all pertinent information. Our outcomes greatly impressed the client.
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FAQs
What is patent mining?
Patent mining is the process of systematically searching, analyzing, and extracting valuable insights from patent databases and documents. It involves identifying relevant patents, assessing their significance, and using the information for various purposes such as innovation, strategy, licensing, or litigation.
Why is patent mining important?
Patent mining helps companies and organizations gain insights into technology trends, competitive landscapes, innovation opportunities, and potential risks. It informs strategic decisions related to intellectual property (IP) management, innovation, and business development.
What are the common objectives of patent mining?
Common objectives include identifying valuable patents for monetization, assessing technology trends, evaluating the competitive landscape, identifying innovation opportunities, and performing due diligence for IP-related decisions.
What are "white spaces" in patent mining?
How does patent mining assist in IP portfolio management?
Patent mining helps organizations assess the strength and relevance of their patent portfolios. It informs decisions about maintaining, divesting, licensing, or acquiring patents to align the portfolio with business objectives.
How often should patent mining be conducted?
The frequency of patent mining depends on an organization’s goals and industry dynamics. Some organizations conduct it periodically (e.g., annually), while others do it in response to specific business needs or technology shifts.
