Patent Mining-Discovery of Business Value from Patent Repositories

Thriving organizations are often driven by innovation and thought leadership. A patent is an instrument for recognizing innovation and protecting the interests of innovators. A substantial amount of patent data is freely and publicly available; the compilation of this patent data forms a basis for patent mining. Effective patent mining requires patent valuation metrics, such as inventive value, improvement value, and market value. Patent mining can discover and extract knowledge from patent repositories. The discovered knowledge can provide early indications of new market trends, recognition of top inventors, identification of ideal patent law firms, and more. The knowledge gained from patent mining can be a basis for supporting critical business decisions.