Getting the right IP monetization insights from patents
Patents can be a critical source of intelligence in the out-licensing research. Various users like universities, NPE, inventors, medium to large portfolio companies may seek out for out-licensing to gain profits and expand their business.
Finding probable licensable art with strong patents and finding potential licensee are two major criteria for out-licensing. Combination of traditional searches and advanced productivity tools can help in the overall process.
Before beginning your monetization research, it is necessary to analyse your portfolio and determine what assets can be licensed (or sold). Patent ranking and other qualitative indicators help you save time in identifying core and non-core patents and thereby help in narrowing down the licensable art in your portfolio.
Locating the gems in your licensable art quickly
Once you have found the licensable art, its necessary to focus on those patents that have the highest probability of being licensed. Usually these are the patents which have higher quality than the others in the pool. You can rank the patents based on non-self forward citations and recent citations/year ratio. Alternatively, you can leverage ranking metrics such as PatSeer’s Citation score, Intrinsic score, or Patent Generality. You can also look at their litigation activity, family citation count, age of patent, etc. to get a holistic picture of the licensing potential.
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