Use Digital Briefcases for Patent Portfolio Analytics
When patent practitioners utilize patent portfolio management software the ways in which patent portfolios can be assembled and analyzed are practically endless. The LexisNexis PatentAdvisor® patent prosecution platform makes it easy for patent professionals to build collections of USPTO patent applications in digital “briefcases” using patent data straight from the USPTO database. Moreover, PatentAdvisor™ users have the advantage of automating their patent prosecution monitoring to keep tabs on the patent applications within their digital briefcases with unparalleled efficiency.
Building Patent Briefcases to Suit Your Needs
The beauty of digital briefcases is that they allow PatentAdvisor users to run patent analytics on a selection of patents and patent applications. Patent analytics can be performed in aggregate to evaluate the overall performance and health of a patent portfolio, or for individual patent applications to identify those that are performing better or worse than expected. For example, PatentAdvisor empowers users to filter the patent applications within a briefcase by how long they have been pending in patent prosecution, the number of office actions or other actions they have received, the relative difficulty of the assigned USPTO patent examiner, and many other useful patent metrics.
While users maintain complete control over how they build their patent briefcases, many PatentAdvisor users find the briefcase feature to be especially useful when conducting:
Company and Client Patent Portfolio Evaluations—Creating briefcases that contain a single entity’s entire patent portfolio is great for both in-house patent counsel and patent attorneys with major clients. Without the help of USPTO patent statistics and patent analytics, prioritizing pending patent applications can be quite tedious. Sophisticated patent prosecution tools help professionals easily identify which patent applications are in the most need of attention.
Law Firm Patent Performance Evaluations—Patent professionals can use patent briefcases to evaluate their law firm’s performance and to work toward better outcomes throughout the patent process. By building PatentAdvisor briefcases that are specific to individual patent attorneys, teams of attorneys or your entire firm, you can evaluate each briefcase’s USPTO patent statistics for weaknesses and identify areas for improvement on many levels.
See how to compare counsel and companies with patent analytics.
Competitive Intelligence—Law firms and companies often track the competitor’s actions so they can adapt their business strategies to remain competitive. By building a briefcase comprised of a competitor’s pending patent applications, PatentAdvisor users can monitor their competitor’s prosecution progress so they will never be surprised when a patent is granted. Not only can users apply patent analytics to competitor briefcases to benchmark their own performance using competitors as a standard, they can also identify which competitor inventions are most likely to hit the market with patent protection in the future.
Utilizing Automated Patent Pattern Monitoring
Once PatentAdvisor users have used digital briefcases and patent analytics to better understand the health of their patent portfolios, they can rely on PatentAdvisor Patent Pattern Monitoring (PPM) to automatically alert them of significant events that impact the applications in the briefcase. Platform users can even tailor alert parameters to their needs using many of the patent metrics offered by the PatentAdvisor patent portfolio management software. For instance, a law firm may wish to receive automated alerts whenever a patent application in a patent portfolio exceeds an office action threshold set by the law firm. A corporation monitoring a competitor’s patent portfolio, on the other hand, may set up automated alerts for any time the competitor’s patent applications receive a Notice of Allowance.
Learn the three reasons companies should monitor competitors’ patent filings.
LexisNexis PatentAdvisor patent portfolio management software gives users the ability to easily assess and monitor patent portfolios for a variety of applications. Analyzing and improving patent prosecution performance and developing both business and patent prosecution strategies are all simplified with the PatentAdvisor digital briefcase feature. Then, after users have gained the insights they were seeking using the many PatentAdvisor patent analytics features, PatentAdvisor PPM automates patent portfolio monitoring so users will never miss a beat.
Read LexisNexis PatentAdvisor® Hidden Gems to Enhance Patent Practices to learn more.