NEW YORK, January 17, 2024 – LexisNexis® Legal & Professional, a leading provider of patent analytics, today launched LexisNexis® PatentSight+, an enhanced version of its PatentSight solution. PatentSight+ provides advanced data-driven insights to help IP teams meet the complex challenges of modern innovation.
“By combining enriched data, cutting-edge analysis, and visualization tools, we’re equipping IP teams with the clarity and capabilities needed to support high-value strategic decision-making.”, said Andrew Matuch, President of LexisNexis Intellectual Property Solutions. “PatentSight+ represents an important milestone in our vision to provide leading innovators with data-driven, contextualized and evidence-based IP insights.”
Advanced analytics and visualizations provide actionable insights
PatentSight+ builds on advanced analytics and visualizations based on highly curated patent ownership information, accurate legal status interpretation, a reporting date concept, and quality indicators that have made PatentSight an industry-leading patent analytics tool. Key analytics include patent benchmarking and landscaping, portfolio optimization, competitor analysis, and technology and trend scouting. Visualization dashboards and maps provide users with actionable insights to inform patent strategy.
New data sources enhance analytics
PatentSight+ significantly expands its data coverage and sources to provide more comprehensive insights. Soon, over 1 million new patent applications and grants from India will be integrated, providing crucial information on innovation in this critical market. PatentSight+ will also include new IP authorities like Bolivia, Paraguay, and Venezuela, expanding the geographic coverage. On the non-patent literature side, PatentSight+ will incorporate over 12 million design documents and 1.8 million other IP documents. By sourcing content directly from patent offices, PatentSight+ will deliver faster data availability, enabling more thorough patent searching, landscaping, and analytics to inform strategic decisions.
SEP declaration data from IPlytics, acquired by LexisNexis in November 2022, has been integrated to support licensing and patent pooling activities on patents declared essential to key standards. Litigation data can help understand the dynamics and connections between different parties in a particular technology space, such as 5G and WiFi, and provide insight into business risk.
Sophisticated patent classification powered by AI machine learning
PatentSight+ leverages AI machine learning and natural language processing for sophisticated patent classification. The acquisition of Cipher AI last year has allowed LexisNexis to build custom classifiers tuned to specific technologies and provide more efficient results. IP experts remain in control, building classifiers iteratively while harnessing machine learning power. The result is a patent classification approach that is both automated for efficiency and tailored for precision and provides more relevant results at short turnaround times.
Optimized for IP team workflows
Beyond powerful analytics, PatentSight+ introduces new capabilities to enhance IP team workflows. Custom templates and one-click PPT exports save critical time and support IP teams in conveying their findings to stakeholders. Enhanced search allows new users to quickly analyze patents without extensive expertise. PatentSight will also soon support document-level search capabilities to provide search and analysis in one tool. These workflow optimizations will enable IP professionals to provide answers faster.
Compete at the cutting edge of innovation with PatentSight+
In today’s highly competitive innovation landscape, companies cannot afford to make patent decisions based on gut instinct. For many years, leading innovators have relied on LexisNexis patent data and PatentSight analytics for high-stakes strategy. Insights derived from PatentSight are frequently cited in their annual reports, sustainability reports, investor briefings, and press conferences as they compete to optimize patent portfolios, outmaneuver competitors, and maximize return on innovation investments.
The launch of PatentSight+ marks a new era in innovation analytics, providing IP professionals with the most comprehensive innovation analytics on the market, supporting a wide range of use cases. We are dedicated to its continual enhancement, adding competitive advantage for our customers.
With plans to continuously expand data sources, further enrich search and analytical capabilities, and optimize workflows, LexisNexis will allow companies to extract even more valuable insights to guide patent portfolio strategy, licensing, litigation risk analysis, and technology scouting.
Contact us to learn more about how PatentSight+ can provide the context and clarity to make smart patent decisions with confidence.
About LexisNexis® Legal & Professional
LexisNexis® Legal & Professional is a leading global provider of legal, regulatory, and business information and analytics that helps customers increase productivity, improve decision-making and outcomes, and advance the rule of law worldwide. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional serves customers in more than 150 countries with 10,500 employees worldwide and is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
About LexisNexis® Intellectual Property Solutions
LexisNexis® Intellectual Property Solutions bring clarity to innovation for businesses worldwide. We enable innovators to accomplish more by helping them make informed decisions, be more productive, comply with regulations, and ultimately achieve a competitive advantage for their business. Our broad suite of workflow and analytics solutions (LexisNexis® PatentSight®, LexisNexis Cipher™, LexisNexis® IPlytics™, LexisNexis PatentOptimizer®, LexisNexis PatentAdvisor®, and LexisNexis TotalPatent One®, LexisNexis® IP DataDirect), enables companies to be more efficient and effective at bringing meaningful innovations to our world. We are proud to directly support and serve these innovators in their endeavors to better humankind.
Director Communication and Strategic Partnerships
LexisNexis Intellectual Property Solutions
+49 151 176 636 75