About the service
Organizations around the world are investing heavily in developing their patent portfolios and the real value proportion for this IP investment can only be derived through effective portfolio management. Companies must utilize their patent portfolio to seize upon the market opportunities derived from exploiting the technologies owned by them in the form of patents. Effectual services help these companies in identifying key patents from their enormous patent portfolios and suggesting ways to monetize these patents through licensing and litigation.n another aspect, we assist companies who are looking forward to identify patents that satisfy particular criteria with the aim of acquiring such patents. In broadest sense, Patent Mining servers the simple objective of mining specific set of patent that matches the technical and/or business specific restrictions provided by clients.
Methodology
Following steps are performed for patent mining
Step 1
Technology Domain Definition and Prioritization
Selecting the technology domain according to the project requirement or as mentioned by the client on to which mining is to be performed.
Step 2
Data Collection and Patent Retrieval
Utilizing patent databases and search engines to collect relevant patent data related to the technology domain.
Step 3
Data Cleaning and Preprocessing
Cleaning the collected patent data by removing duplicates, irrelevant patents, and inaccuracies. Further, standardizing the data format and structure to ensure consistency and ease of analysis.
Step 4
Classification and Scoring
Performing classification and scoring on the identified data. We have two scoring methods: Semi-Automated and Manual Analysis.
Step 5
Semi-automated solution
This scoring system takes into account both objective and subjective parameters such as forward citation, number of independent claims, claim length, detect ability of overlap, market segment and size, etc.
Step 6
Manual solution
This scoring system does include all the parameters used in semi-automated approach, but also extends the analysis to more subjective parameters, such as, remaining life, number of foreign family members, availability of alive family member, number of office action responses, etc.
Step 7
Cumulative Score
Providing a cumulative score to each patent based on the parameters and their weightage, and sorting the patent portfolio according to the score.
Step 8
Analysis
Further, based on the project demand (e.g., infringement search), we can perform detailed analysis on the top scored patents in the portfolio.
Why Choose us?
We have a team of experienced workforce, consisting of Engineers, Bachelors, Masters and PhDs from various technical backgrounds, including Computer Science and Information Technology, Electronics and Communications, Electrical, Mechanical, Chemical, Biotechnology, Pharmaceuticals and Life Sciences domain.
We specialize in uncovering and harnessing the full potential of client's intellectual property assets. Our software tools and manual analysis helps in identifying high-potential patents that deserve client's attention and resources.
We have our in-house ranking tool in order to determine the patents strength. Our ranking tool is designed to determine the value of a patent based on 10 key parameters, for example forward citations, Litigation status, family legal status, geographical coverage, etc. The proprietary algorithm of the tool assigns different weights to the key parameters based upon one’s business context and assesses the strength of each patent accordingly.
We have experienced team members in software domain tools to analyze the complex source codes and experienced team members related to Standards, Telecom, Wi-Fi related technologies.
We provide customized pricing plans in accordance with the budget and the requirements.
At Effectual Service, we generally perform 3-4 projects in a month related to patent mining for licensing or litigation analysis.
Call to ActionCase Study
Once a client, who is a big technology company specializing in cloud-based services, wanted to strengthen its intellectual property portfolio in the area of cloud computing. Specifically, they aimed to acquire patents that were relevant to their cloud based services and could complement their existing offerings. The client approached us to perform a patent mining project. We identified relevant technology domains, keywords, and patent classifications related to cloud computing. Further, we used these keywords, domains and classification on patent databases to extract patents of multiple assignee and inventors or small market players. We further refined the good patents from the portfolio by applying the generated score using required parameters and some manual analysis. Our results were quite aligned with the client’s objective and helped the client in selecting the most prominent patents for acquisition. We were appreciated by the client.
Once a client, who is a technology company giant with an extensive patent portfolio, wanted to optimize their intellectual property (IP) assets to align with their business goals, identify opportunities for monetization. The client asked us to perform patent mining on their portfolio and then perform infringement analysis for their best mined patents. In order to mine the patents best fit for infringement, we exported the portfolio and sorted using our scoring system. The score was calculated by applying appropriate weightage to the relevant parameters according to the requirements. Based on our analysis and scoring, we selected the top patents from the portfolio for conducting infringement search. We were able to identify a good number of infringement cases for the selected patents. We were appreciated by the client over the call.
Once a client, who is a consumer electronics company, aimed to conduct a patent mining study to identify patents related to wireless ear buds. The client asked us to perform the patent mining project for the same. We identified relevant technology domains, keywords, and patent classifications related to wireless ear buds and used these keywords, domains and classification on patent databases to extract patents of multiple assignee and inventors. We further refined the extracted patents portfolio by applying the manual scoring system, as asked by the client. The top scored patents were shared with the client with all the relevant data. The client was quite impressed by our results.
FAQ
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.
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.
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.
Patent mining relies on patent databases, which contain patent documents and related metadata. These databases may be public or subscription-based such as orbit and patseer. Additionally, patent mining may involve text analysis of patent titles, abstracts, claims, and other information.
Patent mining typically involves defining objectives, searching patent databases, applying search criteria, analyzing patent documents, evaluating relevance, assessing technology trends, performing competitor analysis, and making strategic decisions based on findings.
White spaces refer to areas within a technology domain where there are fewer or no existing patents. Identifying white spaces can highlight opportunities for innovation and patent filing, as these areas may have growth potential.
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.
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.
Patent Monetization
Bucketing and Ranking
Market research
Patent Landscape Analysis
Portfolio Management
