Figure 5: Process of Patent Portfolio Pruning<\/figcaption><\/figure>\n<\/div>\n\n\n1. Identify Core and Non-Core Patents:<\/strong> Finding core and non-core patents is the first step in optimizing a patent portfolio. Core patents cover an organization\u2019s fundamental technologies and safeguard its products and services. The rest of the patents are regarded as non-core. Market applicability and future relevance of the protected technology are two additional factors that can help in the shortlisting of patents for pruning.<\/p>\n\n\n\n2. Pack Similar Patents Together:<\/strong> After categorizing the patents, it is critical to find those that are similar and group them together for additional analysis. One can accomplish this by employing sophisticated similarity algorithms and business intelligence approaches or using patent landscape techniques utilizing the international patent classification (IPC)\/cooperative patent classification (CPC) codes. The aspects that one can consider for patent bundling include areas of application, jurisdictions, technical domains, etc.<\/p>\n\n\n\n3. Patent Sets Sorting:<\/strong> Given the precise risk-tolerance and decision-making bandwidth, the patent sets or patent bundles that are selected for pruning can be further categorized based on a few essential criteria that aid in producing distinct viewpoints. Some of these crucial factors include:<\/p>\n\n\n\n\n- Patent Life:<\/strong> While patents typically last for 20 years, this term can shorten if the owner does not pay the necessary maintenance costs. Furthermore, the required maintenance fee rises in tandem with lengthening a patent\u2019s term. It means that businesses should carefully assess the market viability and long-term relevance of their existing patents and weed out the unnecessary ones to reduce costs.<\/li>\n<\/ul>\n\n\n\n
\n- Patent Family Size:<\/strong> The size of a patent family is another crucial factor in sorting out patent sets. Such a distinction is essential since a large patent family is bound to cost more to file and maintain. There are often two different categories of members within a patent family. While one protects certain features of the invention in the same or different jurisdictions, the other protects a similar innovation in multiple jurisdictions. Therefore, patent family members can be abandoned or maintained based on a comprehensive analysis of particular invention potential in a jurisdiction.<\/li>\n<\/ul>\n\n\n\n
\n- Forward Citations:<\/strong> A forward citation is another factor that can influence a patent\u2019s significance. It is because other vital players in the technology area will frequently cite a relevant patent. A patent with a sizable number of forward citations indicates that other businesses operating in the same field believe it to have a lot of potential. So, one can filter patents with few or no forward citations for pruning.<\/li>\n<\/ul>\n\n\n\n
\n- Citations Per Year:<\/strong> This is another crucial factor that can weed out patents with growing market potential. An increase in the number of citations each year indicates the growing market potential of the patent. Such patents are essential for businesses because they aid in keeping rivals from stealing market share.<\/li>\n<\/ul>\n\n\n\n
\n- Self-citations:<\/strong> This parameter establishes the significance of a patent-protected technology for an organization. It is so because a company will only mention a patent that covers a product or the technology that goes with it. The likelihood that a patent is connected to the company\u2019s core technology increases with the number of self-citations.<\/li>\n<\/ul>\n\n\n\n
Companies learn about irrelevant patents after completing the final stage of sorting the patent sets. Such patents ought to be pruned through selling or abandoning. In case of a high infringement potential, such patents can also be offered to relevant buyers. And patents that are neither relevant nor have any potential for infringement can be abandoned.<\/p>\n\n\n\n
<\/span>Why Choose Sagacious IP for Patent Pruning<\/span><\/h2>\n\n\n\nOur team of patent experts analyzes each patent for current core offerings as well as overall strength. We have helped companies from around the world make informed decisions about selling and abandoning their patents. Here is why we are the first choice for several businesses for their patent portfolio optimization needs:<\/p>\n\n\n\n
\n- Quick identification of core\/non-core patents<\/li>\n\n\n\n
- Analysis of around 2000 patents per year<\/li>\n\n\n\n
- Proprietary process and ranking mechanism for swift objective analysis and scoring to identify low-quality patents<\/li>\n\n\n\n
- Prudently curated subjective parameters to identify Fundamental, Future and Fringe patents<\/li>\n\n\n\n
- Thorough analysis for making business-critical decisions<\/li>\n<\/ul>\n\n\n\n