As we settle in to 2018, I wanted to reflect on what we’ve accomplished in 2017 and what we have to look forward to this year. Over the last year, Anaqua expanded its client base like never before by bringing on board an impressive array of new clients including, IBM, McDonald’s, Adidas, Vallourec, and Analog Devices. In total, our software is now used to manage at least 25% of the world’s IP.
Patent renewals force key decisions regarding IP investments, and too many corporations base these decisions on guesswork. Understanding how a patent is performing in the market, its importance to the organization, and its strength should guide these decisions. Leveraging IP analytics can help an organization, and its review team, make smarter, fact-based decisions on whether to keep or abandon a patent. For companies reviewing hundreds of patents per year, having a standard methodology will enable quicker decisions with better justification.
Patent experts came together earlier this month to speak about the future of the European patent system against the background of this development at an event in Munich, organized by the German Association of Medium-Sized Enterprises (BVMW) and sponsored by Anaqua Germany. Present entrepreneurs, company representatives and patent attorneys were able to gain exciting insights into the advantages and disadvantages of the various patent procedures.
A study of published citations revealed that, generally, patent holders only locate a subset of all of their forward citations through a search of the PTOs. Without the right tools, finding valuable forward citations is nearly impossible. Leveraging rejection analysis, abandonment rates, and patent to product mapping, you can assess the value of your patents and identify potential infringements in order to evaluate licensing, divestiture, and litigation strategy.
Citation analysis has been routinely used for several decades to help assess patent quality and determine how patents impact the competition and affect the world at large. As we saw in Part 1, citations can actually occur more frequently against an application before grant than after. As discussed, examiners cite applications far more often than they cite patents due to temporal co-dependency and multiple discovery. These early citations become difficult to uncover.
When it came to developing our latest IP platform, we listened closely to our customers and their desire for a simple, easy-to-use system that provided quicker and deeper insights into their IP management.
Citation analysis helps assess patent quality and determine how patents affect the competition and the world at large. Citations come in two principal forms: 1) Forward and 2) Backward (aka reverse). In reality, forward citations are a derived artifact of reverse citations. A great number of forward citations for a given subject (published application or issued patent) may imply its importance in a given technical space, monetary value, potential for being infringed, or its shared interest by others in the technology space.
The principal objectives for foreign filing are protecting revenue streams and blocking competitors, however, efficiency and affordability also predominate the strategy due to prosecution time and expense implications; blanketing the entire world in patent coverage simply isn’t practical. Ultimately, developing a foreign filing plan requires a thorough analysis of the selected markets, attendant costs, competition’s position, probability of success in obtaining grant, and, most importantly, the value derived from the patents secured. Corporations need an iterative and cost effective approach to remain competitive in their requisite markets.
Patent landscaping enables attorneys to provide more strategic advice to clients regarding asset protection best practices, managing costs, and maintaining a clear view of their market(s). A systematic process makes a significant difference in the ability to prosecute high-quality patents in the proper technology spaces and to advise clients which research and development efforts are worthwhile.
Anaqua has successfully integrated multiple organizations and technologies via partnership, merger and acquisition. Because of this, we are confident that our merger with Lecorpio will be just as successful and the work to align our efforts is already underway.
On World IP Day, we celebrate the innovators who are improving people’s lives across the globe.
In the fields of health and nutrition, energy, engineering, telecommunications, transportation and many other technology sectors, we applaud those individuals and organisations who are making a difference – from developing new ways to enhance our daily lives to finding solutions to the world’s greatest challenges.