Data driven Patent Strategies: You can’t manage what you don’t measure
Patent assets are one of the most valuable assets of many companies.
Therefore, it is axiomatic that patent assets must be acquired and managed in a strategic manner. The adage, “you can’t manage what you don’t measure” certainly applies to patent assets. Further, the ability to harness Big Data to help us understand patent assets has never been greater. On the other hand, the enormous amount of available data is overwhelming. Fortunately, there are many tools available to assist the patent strategist in culling and processing relevant information from the mass data.
Leveraging these tools is an essential basis for an efficient an effective patent strategy.
By analyzing the available data, the patent strategist can:
understand a parties’ patent holdings based on subject matter and geography,
determine likely relative value of patent holdings,
identify innovative personnel,
find competitive threats and vulnerabilities, and
generally understand the effectiveness of existing patent strategies.