Sagacious IP Bags 2019 Global Business Excellence Award for its Optimization Solution
Sagacious IP Bags 2019 Global Business Excellence Award for its Optimization Solution: Sagacious IP, one of the largest technology-focused IP research firms in the world has received the Outstanding Product/Service category award at the prestigious 2019 Global Business Excellence Awards. Sagacious IP won the award for its innovative model which helps companies to manage their patent portfolios effectively by boosting a mix of Artificial Intelligence and manual expert analysis. [Explore Our Service: Patent Licensing & Monetization]
“Well done to Sagacious IP for developing a system using artificial intelligence and manual expert analysis that helps companies manage and evaluate their patents, and place them into different categories in terms of potential. Many large companies have thousands of patents to manage that they don’t know which ones are important for their business and have strong potential. Sagacious IP helps businesses manage one of their most important assets, understand the value of each patent in order to make the most of their intellectual property”, comments Chairman of the Judges.
Known as F3 Analysis, the model helps companies to categorize their patents into three major categories, Fundamental Patents (used in their current products or infringed by their competitors, Future Pa Patents (patents that may be used in future products by them or competitors) and Fringe Patents (not directly relevant to them or their competitors and can be monetized to generate revenue/abandoned to save IP budget). The F3 Analysis is currently deployed in U.S, European, Japanese, Korean and Chinese companies with over 100,000 patents across the globe.
Tarun Kumar Bansal, President, Sagacious IP, comments, “Sagacious IP has been innovating new products and services based on its client needs. It is our pleasure that one of our innovative solutions related to patent portfolio management has been recognized as outstanding by a global agency. This innovative product solves one of the most critical business challenges for any organization with a large patent portfolio. We have made it possible for many large companies to get a grip on their portfolio and in the past couple of years, have helped them generate ~130mn US dollars by monetization of unused IP while helped them save ~30mn dollars in maintenance fee payments”.
Open to the private, public and the third sector organizations, the entrants to the Global Business Excellence Awards don’t have to be operating internationally to enter the awards. The four rounds each year with quarterly deadlines being the last working day of February, May, August and November and the winners for each round hold their title for twelve months. The awards attract large number of entries from across the world and they’re identified for their outstanding work in the industry.
Founded in 2008, Sagacious Research specializes in IP Monetization, Innovation Management, Technology Scouting and other aspects of IP lifecycle. It has served over 1,200 clients from more than 46 countries with 10,000 assignments in over 16 languages. With a team of over 225 techno-legal professionals, it spans over India, USA, China and Canada.