Innovative Patent Analytics Software for Your Patent Strategy’s ROI
Most businesses’ value is found in their intellectual property (IP). IP, like patents and trademarks, also contributes to revenue growth. Therefore, effective IP management tools are critical to a business’s financial success. To have effective portfolio management, businesses should use patent analytics software that provides insights into their patent ROI and identify areas for improvement to enable data-driven decisions. This article will explore the benefits of IP analytics software on patent strategy from a leading IP business, IPwe.
Patent Analytics Software and Patent ROI
To achieve a high IP ROI, it’s essential to differentiate between valuable and worthless patents. This can be accomplished with patent analytics software. Such software provides in-depth information about a patent, including its market potential, citation trends, and patent family relationships. As a result, businesses can invest their resources more efficiently and ultimately obtain a higher ROI on their patent portfolio. However, the benefits of patent analytics software extend beyond identifying valuable patents. Businesses can uncover potential licensing or partnership opportunities to increase revenue from their patents by analyzing their competition.
Smart Intangible Asset Management’s AI Patent Analytics
Artificial intelligence (AI) and machine learning are exciting developments in patent analytics software. With AI-powered patent analytics tools, businesses can quickly and accurately identify trends and patterns in large amounts of patent data. Therefore, they can gain valuable insights into their intellectual property (IP) strategy. For instance, they can identify potential innovation areas and assess patents’ strengths. Additionally, they can monitor competitors and predict future trends. Overall, AI-powered patent analytics is a powerful tool for businesses to manage their intangible assets and maximize their ROI.
By using Smart Intangible Asset Management, businesses can:
- Identify potential areas of innovation: By analyzing the business’ patent data, AI-powered tools can value your intellectual property. By accessing AI-generated valuations, businesses can identify their most valuable assets and stay ahead of competitors.
- Assess the strength of patents: By analyzing factors like citation frequency, litigation history, and patent office rejections, SIAM can assess the strength of patents and help businesses determine which ones are worth maintaining.
- Monitor competitors: IPwe lets you track and value competitors’ patent portfolios. This provides businesses with insights into their competitors’ IP strategies. Ultimately helping them stay ahead of the competition.
- Predict future trends: By analyzing patent data over time, Smart Intangible Asset Management identifies trends in patent activity and predicts future developments. This helps businesses make informed decisions about their patent ROI.
Powered by Clarivate Data
IPwe has strategically partnered with Clarivate, a global leader in providing trusted information and insights. Clarivate’s world-leading patent data set powers SIAM. This data integration accelerates innovation by providing unique patent data to IPwe’s AI, predictive analytics, and blockchain technology platforms. The partnership aims to enable customers to validate their patent portfolios with world-class data.
The combination of Clarivate’s patent data with SIAM enables the creation of NFTs and the tokenization of patents and other intangible assets into digital assets. This technology facilitates easier tracking, licensing, commercializing, and transacting with verified information, resulting in less transactional friction and greater transparency that encourage adoption and commercial opportunity.
Clarivate data enhances data accuracy and facilitates the growth of the global IP transaction market, leading the way in blockchain technology around smart intangible asset management. IPwe offers full transparency in patent identification and ownership, supporting the next generation of IP management through the partnership with Clarivate.
Overall, the partnership between IPwe and Clarivate offers unique patent data from Clarivate within IPwe’s AI, predictive analytics, and blockchain technology platform. This helps businesses to validate their patent portfolio and act as a single source of truth for data related to these critical assets. With the power of Clarivate data, the partnership facilitates innovative blockchain solutions and enhances data accuracy. Further, it facilitates the growth of the global IP transaction market, with IPwe leading the way in blockchain technology around smart intangible asset management.
The Leading IP Business for Smart Intangible Asset Management
If you’re looking for the best IP analytics software and IP management tools on the market, look no further than IPwe’s Smart Intangible Asset Management (SIAM). As a leading patent analytics software, SIAM offers a suite of innovative software tools. These tools help businesses optimize their IP strategies and maximize their ROI. IPwe’s analytics software is built on a powerful AI that can analyze the value of millions of patents in seconds. Therefore, providing you with insights into your portfolio that would be impossible to uncover manually.
Patent Analytics Software Results: Crown Electrokinetics Case Study
After using SIAM for six months, Crown generated 25% more ROI on its patent portfolio by closing two licensing deals. These licensing deals were identified after SIAM highlighted Crown’s 11 most valuable patents.
“The implementation of IPwe’s Smart Intangible Asset Management has resulted in a 25% increase in our ROI for our IP portfolio within six months of use. This has been a significant benefit for our company and demonstrates the effectiveness and value of SIAM in maximizing the value of our IP assets”, said Doug Croxal, CEO of Crown Electrokinetics.
One of the key benefits of SIAM for Crown was assessing the value of their patents accurately and reliably. In addition to this valuable analysis, the SIAM provided data that helped Crown decide which non-valuable patents were ultimately unimportant to their IP strategy. This helped the company make informed decisions about which patents to let expire, reducing their IP expenses and allowing them to allocate resources more effectively.
Conclusion
Effective IP management is critical to success in today’s fast-paced and ever-changing business environment. With patent analytics software like SIAM, businesses such as Crown can gain insights into their IP portfolio and patent ROI. This enables businesses to make data-driven decisions that will help them optimize their IP strategy and drive their business forward. At IPwe, we’re committed to helping businesses of all sizes achieve success through our innovative software tools.
Contact us today at support@ipwe.com to learn more about Smart Intangible Asset Management.