We are awash in data – beyond our capacity to absorb and integrate intelligently. Even in the most extreme cases where there is a perfect intersection of data, analytics, validatable metrics, and huge incentives to utilize and optimize, we see both surprising catastrophic failures, and stunning opportunities in markets. To give two stark examples, we turn to the market crash of 2008 – caused by a cascading failure in financial markets that devastated our economy and destroyed market capitalization – in 18 months, the Dow lost over 50 percent of its value.
Asia is home to many of the world’s most innovative companies… as well as some of the most ingenious imitators. It’s a region where highly developed, sophisticated intellectual property (IP) systems and regulatory frameworks in some markets co-exist with relatively immature IP regimes in neighboring countries.
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.
Now that 2017 is over, it is a good time to take a brief look at the overall US patenting statistics for the year as identified in AcclaimIP. We've put together an infographic to visually show you what the past year has looked like based on data from the USPTO office.
As the planning and budgeting for 2018 kicks into gear, Intellectual Property (IP) managers can reflect on the highs and lows of the past year and more importantly, prepare for a successful new year. Instead of following the same IP plan year after year, IP managers should focus their strategy on aligning their IP with their business, including developing a more concise IP plan, and switch to using smarter and modern analytics.
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.