The benefits of worldwide patent data and analytics are clear at every stage of the patent process. From helping patent prosecutors strategically draft patent application content to predicting a patent examiner’s next move in prosecution, having more information on hand leads to better outcomes. Patent data is no less useful for patent portfolio management; but optimal management requires sophisticated solutions that meet the unique challenges patent portfolios present.
The patent records that make up a patent portfolio are often dispersed throughout several of the world’s patent authority databases, which makes it difficult for patent professionals to efficiently and effectively extract useful information that applies to a patent portfolio as a whole. Although the information is publicly available and is typically accessible using each applicable patent authority’s online database, it is no small feat to navigate multiple patent databases that vary in both form and function.
One of the biggest reasons patent practitioners love LexisNexis® IP products is their versatility as solutions to several problems presented throughout the patent process. A favorite among patent practitioners for conducting global patent searches, the LexisNexis TotalPatent One® patent search platform has several features that help users obtain important information pertaining to global patent portfolios. TotalPatent One® solves the problem of separately searching several patent databases by providing users with access to documents from over 100 patent authorities from a single platform. Users can add electronic patent records from their searches to digital file folders within TotalPatent One, which enables them to effectively create models of the patent portfolios they manage. From there, TotalPatent One tools and filters help users assess their portfolios based on Cooperative Patent Classification (CPC) classifications, filing statuses and many other types of exportable and printable information.
When prosecuting patent applications in the United States, the LexisNexis PatentAdvisor® patent analytics platform offers USPTO patent statistics and patent metrics that help users with their success in patent prosecution. PatentAdvisor® is best known for providing key insights about patent examiners and individual patent applications that help in developing patent prosecution strategies; but the patent analytics provided by PatentAdvisor can also be used to improve the health of entire patent portfolios.
Much like creating file folders in the TotalPatent One patent search platform, patent “briefcases” comprised of USPTO patents and patent applications can be created within the PatentAdvisor patent prosecution platform. Users who create a briefcase containing an entire portfolio of USPTO patent documents can then easily analyze the portfolio’s aggregate patent statistics, such as the average allowance rate or number of office actions per patent application. Portfolio patent statistics, worldwide patent data trends and the ability to use PatentAdvisor filters to isolate patent applications that are in need of attention, all help users identify the actions they can take to improve the health of their patent portfolios.
LexisNexis IP users manage patent portfolios more effectively with patent data and analytics. With sophisticated tools that remedy global and local challenges, patent practitioners can easily evaluate entire patent portfolios and identify opportunities for improvement.
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