Tips & Tricks for Bringing Actionable IP Intelligence into the Boardroom
Gone are the days when businesses made tough decisions based on anecdotes and gut feelings. Right now, decisions need to be based on data and hard facts. The estimated total sum of data held in online storage between Google, Amazon, Microsoft and Facebook alone is an astonishing 1.2 million terabytes. Some estimates place the amount of data on the Internet at 40 trillion gigabytes. With such staggering amounts of data, finding any actionable information can become a hopeless search for a needle in a haystack. Translating data into practical, actionable and easily processed information for executives can be challenging to say the least. What IP intelligence information does a Chief IP Counsel, Chief Patent Counsel or Chief Trademark Counsel bring into a boardroom, and why?
What elevates data to the level where it needs to be considered by the board, or even reviewed by the CEO or CFO prior to a board meeting? With time being the most precious of all commodities, how can the leaders of an IP team quickly and accurately convey the necessary information to decision-makers, so they receive a clear picture of the issues sufficient to make informed decisions?
Gene Quinn, founder of IPWatchdog.com, led a discussion about how IP professionals can and should triage what information to provide to company executives and how to do it in a way that maximizes understanding and actionability. Joining Gene was Laura Gisler, Head of IP at Polestar and Brian Hinman, Chief Innovation Officer at AON and Former Chief IP Officer at Philips.
View the Tips & Tricks for Bringing Actionable IP Intelligence into the Boardroom slides
Provide actionable insights to support strategic decision-making
Effectively communicate the value of your IP with powerful insights and visualizations, enabling you to turn your patent department into a strategic consulting unit.
Taking patent analytics out of the ‘black box’
With LexisNexis® Intellectual Property Solutions, you benefit from a highly transparent scientific approach to patent data analysis. Forget opaque algorithms and analytics ‘black boxes’, we can show you exactly how we reached at our insights. Patent analytics solution, LexisNexis® PatentSight®, is built on the foundation of ground-breaking validated research, which is often cited in leading scientific publications.
Brought together in the patent value indicator, the Patent Asset Index™, this objective approach to assessing patent quality and benchmarking patent portfolios has become a de facto standard in measuring portfolio strength.
High-quality data: a prerequisite for reliable patent analysis
LexisNexis Intellectual Property Solutions validates and quality-assures patent data by assigning patents to their accurate commercial owners and verifying their legal validity and remaining lifetime.
Superior datasets allow you to unveil valuable patent insights and see clearly who wields commercial power over the inventions that underpin promising patents.
Patent analyses conducted with PatentSight® have proven to be more reliable than analyses based on unprocessed patent data.