In recent years, a variety of patent analysis platforms have entered the market. These platforms contain patent data that could provide the answers to many business dilemmas. While market information is publicly available, it often takes insurmountable time to find each valuable piece of information. This is where patent analysis platforms come in handy.
Patent analysis platforms provide data in one place. This is a huge benefit because it saves time and energy in conducting research just to locate data. But more importantly, the information contained in patent analysis platforms reveals current trends and changes in market activity. For instance, IP Software’s platform ipAnalytx provides a number of metrics of interest that help identify important market activity. Here’s a look at seven important metrics that ipAnalytx provides.
- Grant activity – Rate of change in grants indicates current/historic market significance.
- Application activity – Rate of change in applications indicates current/future market significance.
- Application/grant ratio – The application/grant ratio provides evidence of market significance over time. It indicates whether innovation pace is slowing or gaining traction.
- Patent priority – Patent priority is based on a date. Those with earlier dates might exhibit a greater degree of novelty and be more foundational in nature. Those with later dates might exhibit a lesser degree of novelty and be more incremental in nature.
- Citation activity – Patent citations are references to other granted patents or published applications. Highly cited patents generate great market interest.
- Transaction activity – Transaction activity indicates possible buyers/sellers for a given technology. It also indicates active interest and market relevance in related technologies.
- Maintenance rates – Patents are only enforceable when maintained. Maintenance rates can inform on economic lives of assets.
These are just seven of the metrics that ipAnalytx offers. However, among these metrics alone, a user can determine the rate at which innovations are faring in a given class, which patents have the most citations, who is buying or selling, who is applying for patents and in which class, and so much more. To learn more about ipAnalytx, contact a representative at 317.569.1313.