Determining a patents strength from a technical and licensing perspective takes a very specific set of skills. While citation analysis and analytics can be good indicators of a patents viability, the only true assessment of a patents overall value comes from pure human intelligence.
The United States Patent and Trademark office issues almost 200,000 patents each year, with over double that number of patent applications filed. While patent examination practices are becoming more refined and efficient, the process is designed to focus on a patent’s eligibility rather than its overall quality.
Patent Quantity vs. Quality
According to the article “Updating TRIZ: 2006-2008 Patent Research Findings,” which assessed patents based on five levels of invention, the average patent portfolio is comprised of over 60% routine solutions or minor improvements, while containing less than 5% new and pioneering inventions.
However, according to market statistics derived from data analytics and the results of patent market activity, that 5% containing new and pioneering inventions accounts for 70% of a portfolio’s overall value. The majority of any given patent portfolio may account for less than 25% of its value.
Determining which patents in your portfolio are important inventions and which are supporting patents or routine solutions is key to strengthening your litigation position, and ensuring your company’s resilience against harmful litigation. While citation analysis and analytics can be good indicators of a patent’s strength, the only true assessment of a patent’s overall value comes from pure human intelligence.
Expert Evaluation of Your Patents
TAEUS set the gold standard in evaluating patents using thought-leaders and key technologists in the relevant fields of the patent’s technology. Our patent evaluation process has been repeatedly vetted by major corporations and patent auctions.
A TAEUSworks Patent Evaluation uses our extensive network of subject matter and technical experts to predict the patent’s potential strength from a technical perspective. We analyze and rate each patent using an intricate examination of a patent according to market impact, licensability, and overall patent quality.
The result of our patent analysis is explained in a way that gives you actionable intelligence on which of your patents are best suited for your various strategy needs. The analysis includes a list of companies who are potentially using your patented technology, which can give you a head start on licensing campaigns or act as an indicator of which companies are operating in your market space.
TAEUS patent evaluations have historically tracked the sale prices of patents at auction, proving that a TAEUSworks evaluation gives you accurate information about the quality of a patent and can lead to more profitable licensing campaigns.