What are patents for, if not monetization?
Patent Portfolio Management
Patent Portfolio Management
Patent portfolio management is a process a company adopts to stay ahead of the market by keeping a regular check on the patents it holds and maintaining coordination between the patenting strategy and its business strategy increasing the business revenue of the company. The patent portfolio optimization/analysis includes different patent portfolio management strategies to generate an effective and targeted patent portfolio, such as identifying the less valuable patents and taking decisions to prune or abandon those patents, taking decisions on offensive or defensive strategies, licensing, mergers/acquisitions, or any other transactions related to patent portfolio.
The process also involves extensive mapping of patents to end products and key research areas with the help of patent portfolio management tools that help in understanding the core patents that protect the business.
Challenges Faced While Managing Patent Portfolio
Evaluating large patent portfolios for infringement and evidence of use (EoU) is an arduous process that demands a lot of time and effort
A structured approach is needed to keep regular checks on quality patents which can provide financial benefits or royalties from a large set of patents
Patent portfolio valuation to identify the set of patents that are valuable or less valuable and accordingly make decisions regarding abandonment, pruning of less valuable patents
Keeping a check on applications where continuation can be filed
Seeking companies where licensing, merger & acquisition deals can be made
Complete manual research & analysis resulting in a higher cost of review
Our Services
Identifying hidden gems in portfolio
We assist our clients in identifying the hidden patent assets in their portfolio and evaluating them for infringement. The process involves extensive mapping of patents to end products.
Patent ranking (determination of portfolio strength)
We assist our clients in ranking the large portfolios, to identify the strengths and weaknesses of their patent profiles, based on several technical, legal, and commercial parameters. It will identify the patents that are less valuable and taking decisions to prune or abandon those patents.
Acquisition
We help our clients obtain the best patents possible.
Competitive IP analysis
We assist our clients by providing competitive patent landscape analysis to understand the competitors who hold an edge.
Our Methodology
(Patent Portfolio Management)
We execute a five-step approach to managing a patent portfolio
Understand
Analyze
Mitigate
Web crawling and web scrapping the competitor's website to extract product data for ingestion into the system. Product clustering using human inputs in multiple technology domains.
Formulating queries on patent databases, extracting a list of patents from the client's patent portfolio, and clustering them into multiple technology domains.
Compare the products technology domain with the patents technology domain to identify the overlapping technology areas.
Extracting gold & silver patents for targets using a proprietary automated tool.
A detailed infringement search on the top-ranked patents is performed by the team and high quality evidence of use claim charts are prepared based on solid evidence.
Why TT Consultants?
Automation in identifying the best patents in the patent portfolio and then, identifying the possible first-pass infringing products against each of those patents
Head start and use of big-data for identifying correct products. Pre-ingested data sets for ensuring parsing of claims to products
The starting point will be the best patents as identified by XLPAT followed by ones having lower score as per XLPAT
Dataset of 103 rejection references, reassignments, litigations, excel sheets, data sheets, ingested data
Detailed manual analysis and calibration is coupled with machine learning, data automation and web crawling/alerting
Experienced team having significant working experience in preparing detailed claim charts corresponding to the identified product(s)
Clients Testimonials
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FAQs
What is a patent portfolio?
A patent portfolio is a collection of patents held by a company or an individual that helps the company in effective decision-making regarding commercialization opportunities and prevents companies with identical technology domains from staying in the market.
What is the need for patent portfolio management?
If managed efficiently, a portfolio assists a company to stay ahead of the competitors and generate greater revenue by analyzing the patents as a set and not on an individual basis.
What are the different patent portfolio management strategies used by the companies? / How can we increase the strength of the patent portfolio?
The strength of the patent portfolio can be increased by pruning less valuable patents, improving R&D investments through patenting activities, drafting patents in a better way considering the claim scope.
Are the patent portfolio strategies different for small-scale and large-scale companies?
Yes, the portfolio strategies are different for small-scale and large-scale companies, where large-scale companies generally use offensive strategies and file patent applications for all the related inventions in the technology domain as early as possible and stop the competitors from doing so, whereas small-scale companies follow a path to ensure the quality of the patent, which would further be used for investments and acquisitions.