Using the Patent Asset Index for Patent Portfolio Benchmarking
In business, much like in any other competition, it is imperative to consider your competitor’s progress while making decisions for the future. When it comes to innovation, technology benchmarking is a proven method for this.
Unreliable data has been a critical pain point for decision makers when benchmarking technology and innovation, as public sources of information are often riddled with inaccuracies and noise. Patents are a treasure trove of information, providing an unbiased view of an organization’s innovative potential.
The Patent Asset Index, the patent portfolio quality metric behind LexisNexis® PatentSight+TM analyses, developed based on extensive scientific research, provides an objective view of the portfolio. At its core is a mathematical model that calculates the value of a patent by measuring two main indicators for each portfolio: Technology Relevance, based on citations received by a patent family and Market Coverage, the size of the markets in which a patent family is protected. Learn more about the Patent Asset Index and its components here.
In this white paper, we analyze the patent portfolios of two IT industry leaders to compare their innovation strategies and benchmark their technologies. The report emphasizes how reliable data and insightful visualizations can simplify the process of benchmarking innovation.
Read the full technology benchmarking white paper
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 arrived at our insights. Our patent analytics solution, PatentSight+, is built on the foundation of industry-tested, peer-reviewed 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.
Our world-class datasets include Ultimate Owner information that identifies the entity that owns the commercial rights to the invention in a patent. Find out who the real competition is that wields commercial power over the inventions that underpin promising patents in your technology space.