IP Performance Reviews Made Easy with Patent Analytics
Another year is coming to a close, and year-end reviews are on the horizon. Evaluating your firm’s intellectual property (IP) performance is of utmost importance during this time. However, measuring the performance of your patent applications, patent portfolios, and staff is difficult without the proper metrics and tools. The good news is that modern patent prosecution tools provide patent professionals with an abundance of patent data and statistics, as well as many methods of dicing up information, to help determine how your firm’s IP performance looks in retrospect.
Patent Analytics and Digital Briefcases to Measure IP Performance
Before you begin with your annual review consider – who or what are you reviewing. ? IP performance can be tracked using various metrics like IP revenue contribution, IP portfolio, IP quality, or IP organization and performance. Despite what you are measuring, patent analysis platforms, such as LexisNexis PatentAdvisor®, allow users to tailor their evaluations to include a firm’s overall IP performance, the performance of a client’s patent portfolio, or the performance of patent applications handled by one or more specific individuals. After gathering relevant patent information, users can then run analytics to better understand what went right and what went wrong in the previous year. You can then use that information to figure out how you can improve your IP performance for the following year.
Each of the analysis options provides different benefits. Here’s a short description of each one:
By Firm – PatentAdvisor® makes it easy to place all of your firm’s patents and pending patent applications in a single, convenient, digital workspace (called a “Briefcase” in PatentAdvisor). Users can search for their law firm’s name, and PatentAdvisor will provide a list of all of the USPTO patent documents that mention the firm. Selected documents can then be added to a Briefcase that can be accessed directly from the PatentAdvisor dashboard for evaluation.
By Client – Similar to creating a Briefcase for a law firm, users can rely on PatentAdvisor to gather USPTO patent documents for a specific client. Users can search for patent documents associated with a particular patent assignee, or they can search by document number to identify patents and patent applications to add to their client Briefcase.
By Professional – If you are looking to assess the IP performance of an individual or a team, simply search for relevant patent documents using PatentAdvisor and create a Briefcase to begin your assessment.
Briefcases are invaluable to analytics and assessments. Once a user has created a Briefcase containing one or more patent documents, they can view data and statistics about the patents and patent applications in the Briefcase using several methods. Depending on the information a user is seeking, or the format in which they would like it presented, they can utilize PatentAdvisor’s Dashboard Exploration, Portfolio Performance Reports, and the Visual Exploration tool for greater insights into their Briefcase performance.
Dashboard Exploration – When users log into PatentAdvisor, the Briefcases they have created are immediately visible in the Portfolio Manager section of the page. They simply click on the Briefcase that needs to be reviewed, and are presented with a number of options for viewing patent analytics for the selected Briefcase. The Dashboard Exploration button takes users to an interactive analytics page, where they can then explore patent data and statistics in an easy-to-use format. Users can monitor processing times, allowance rates, interview statistics, and more in both numerical and graphical formats.
Portfolio Performance Report – If users are short on time or have little interest in the interactive nature of Dashboard Exploration, they can also export Briefcase data in a familiar Excel spreadsheet. By selecting the Portfolio Management Report option, users will be given the opportunity to download a spreadsheet containing essential information. This includes the application numbers for the patent applications in the Briefcase, the number of office actions received for each application, the types of rejections received, and more.
Visual Exploration – The Visual Exploration tool helps users visualize the makeup of their Briefcases based on a variety of available filters. Users can call upon Heat Maps (like the one shown below) that display patent documents as individual tile representations. Double clicking an application tile takes users to an in-depth analytics page specific to the selected application. Users can also filter out applications using date ranges (filing or disposition dates), classification types (e.g., art units or tech center numbers), application types, examiners, prosecution events (i.e., the number of RCE’s filed), or examiner statistics. Filters make it easy for users to identify patent applications that are problematic or need additional attention, which often inform how a Briefcase is performing as a whole.
Having a better understanding of your organization’s IP performance for the year can better help you plan on how to improve for the following year, and LexisNexus can help you achieve your planning goals.
While IP Performance reviews may not always be pretty, these annual assessment tools can make it efficient and simple. The PatentAdvisor patent prosecution platform enables users to group USPTO patent data and easily analyze the performance of their firm, client portfolios, and employees in one location.
Get to know your examiner better with more context and a deeper understanding of your examiner’s behavior than ever available before.
With your free trial, you will gain instant access to:
Examiner Search allows you to search by examiner name for a filterable, examiner specific dashboard of patent analytics, including rejection specific statistics, appeal statistics, prosecution statistics, interview statistics, a backlog of RCEs and timeline.
QuickPair easily replaces the USPTO Public PAIR by providing the most robust application details anywhere, including examiner timeline, examiner allowance rate and the average time and number of office actions to allowance.
PatentAdvisor, the first-ever data-driven patent strategy tool, provides a systemic approach to crafting an effective prosecution strategy. Understand why certain patent applications take longer than others to reach allowance—then use that knowledge to devise better patent prosecution strategies.