Patent Scoring and Ranking
Patent scoring and ranking help rank value patents in your company’s patent portfolio. This will give you a clear understanding of your business growth.
Furthermore, this helps you identify the strengths and weaknesses of your patent portfolio scoring. This is performed based on technical, commercial, or legal parameters, and helps you evaluate business opportunities. Based on different parameters like the number of family members, claim length, and many more, a graphical representation of your value patents is generated that scores/ranks your patent.
Patent Portfolio Scoring
Patent Portfolio Scoring is a way to quantify the value of a patent. It’s used by corporations, law firms, and government agencies to assess patents for litigation purposes or for determining which patents should be filed. The patent scoring process is done by analyzing each aspect of the invention and its resulting potential value in order to determine a total score out of 100 points.
Why Use Patent Scores?
Why Use Patent Scores? Patent scores can be used to identify top patents. Patent attorneys, agents, and attorneys use patent scoring to determine which patents are most likely to be infringed by competitors or invalidated by a court. Patent scoring is also used by clients who want to know how strong their patent portfolio scoring is relative to other portfolios.
Patent scores can be used to identify the best patent lawyers, agents, and attorneys. In addition to helping clients determine whether there are any issues with their existing portfolio of patents, patent scoring services also help them find new patent counsel if needed.
The purpose of patent ranking and scoring
The purpose of patent ranking and scoring is to manage an extensive patent portfolio scoring, there is a need for effective IP portfolio management. Patent scoring and ranking help companies with a large number of patent portfolios work their patents by removing the less profitable patents and considering valuable patents. Patent scoring and ranking segregate the patent portfolio scoring using different techniques that help companies understand the true potential of the IP assets they own. Also, the process involves an in-depth analysis of patents to segregate them into different technologies and prepare a comprehensive taxonomy. This enables the companies to reduce junk in their patent portfolio scoring and helps recognize the strength of patents in a particular technology domain.
Why are patent scoring and ranking important?
Managing an extensive patent portfolio can be a daunting task, and companies must focus their resources on the most valuable patents. Patent scoring and ranking help companies prioritize their IP assets and allocate their resources accordingly.
Moreover, patent scoring and ranking can provide insight into emerging technologies and identify opportunities for innovation. By analyzing the strength of patents within specific technology domains, companies can develop strategies to leverage their IP assets to stay ahead of their competitors.
Scoring and ranking system
The outcome of patent scoring and ranking is a graphical representation wherein the scoring model ranks patents as high quality, medium, or low quality. Following are 2 ranking systems.
Semi-automated ranking system
The patent ranking system includes a semi-automated ranking system wherein the patents are ranked based on objective and subjective parameters. These parameters include an independent claim, claim length, forward citation, market segment and size, and the like.
Manual analysis ranking system
Another approach is patent ranking based on manual analysis that includes parameters like the remaining life of a parent, the number of office action responses, the number of foreign family members, and the like.
Patent quality metrics
The patent quality metrics is a tool for measuring the quality of patents. It is based on two dimensions: patent family and market. In the competitive world of patent filing, it’s important to understand how to evaluate a patent’s worth. A “patent score” is a numerical value that indicates the relative worth of a patent. Patent scoring is used to evaluate the value of individual patents, portfolios of patents, and even entire markets.
Patent scoring is based on three factors: novelty, inventiveness, and exclusivity (or exclusiveness). A higher number means that something is more unique or influential than its peers in some way, whether it’s because something is new or simply because it has been granted more protection than other similar inventions.
Patent scoring is a useful tool for patent filers, patent attorneys, and anyone involved in the patent process. It allows you to evaluate the quality of your patents before filing them and gives you an indication of how likely they are to be granted by the USPTO.
Our team of advanced patent attorneys assists clients with patent searches, drafting patent applications, and patent (intellectual property) agreements, including licensing and non-disclosure agreements.
Advocate Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology, Intellectual Property & Corporate Laws. He is reachable at rd (at) patentbusinesslawyer (dot) com & @rdpatentlawyer on Twitter.
Quoted in and contributed to 50+ national & international publications (Bloomberg, FirstPost, SwissInfo, Outlook Money, Yahoo News, Times of India, Economic Times, Business Standard, Quartz, Global Legal Post, International Bar Association, LawAsia, BioSpectrum Asia, Digital News Asia, e27, Leaders Speak, Entrepreneur India, VCCircle, AutoTech).
Regularly invited to speak at international & national platforms (conferences, TV channels, seminars, corporate trainings, government workshops) on technology, patents, business strategy, legal developments, leadership & management.
Working closely with patent attorneys along with international law firms with significant experience with lawyers in Asia Pacific providing services to clients in US and Europe. Flagship services include international patent and trademark filings, patent services in India and global patent consulting services.
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