Posts Tagged: "Patent Utility"

Patents: The future of competitive success through innovation

Now more than ever succeeding is all about making better products and offering new and improved services quicker and more reliably than your competitors. Surprisingly, at a time when many major technology corporations are struggling to innovate, we see utter disdain for patent owners. Void from the discussion is any perspective on the real problems facing American companies – namely innovating to obtain a competitive advantage and set themselves apart from the competitors they have today and the competitors they will surely have tomorrow. Increased patent licensing, or outright acquisition of patents, will not only help, but will likely become essential for those companies who understand the importance of continually squeezing out innovation as fast and efficiently as possible.

Patent Properties launches patent licensing subscription service

At the heart of the Patent Utility is an advanced semantic search engine that identifies the technologies that are relevant to any individual business or entity. The analytical processes behind the semantic search engine will capture text-based information about a company both from publicly available sources and the company itself. This information will typically include product specifications, description of core technologies, identification of key competitors, and research and development priorities. The information is then processed and analyzed against the entire active U.S. patent database, which currently stands at 2.3 million patents and millions of pending applications. The process cross-references the company’s products, components, services, materials, methods and processes with specific patents and claims in the U.S. patent database. The more closely the patent claims relate to a company’s information, the more relevant the patent containing those claims is.

Unlocking Patents: The Cost of Failure, The Benefits of Success

LITAN: ”But let’s go back to the main point again from our paper, which is that we need to switch the national conversation about patents to doing a better job of exploiting what we have as opposed to arguing so much about what the standards should be going forward. If we did that, maybe we’d get some greater bang for the buck our of our innovation system. Because there are a lot of unexploited patents out there that could be commercialized. Of course, your point that a lot of patents will drop off because the maintenance fee won’t be paid in the four year period. That’s true for some patents, but certainly not all. In our paper we call the unexploited patents singles and doubles. Our current patent system is set up really only to reward home runs. It’s because of the costs and risks of commercializing the singles and doubles that we don’t see enough of them.”