Sacramento, CA (PRWEB) June 16, 2005
Patent search engine and patent informatics company PatentCafe announces the launch of its Patent Factor Index Report (PF/i), an online patent analysis tool that evaluates the Legal, Commercial and Technological quality and valuation indicators of an issued patent.
Used for investment and acquisition due diligence, to support product strategies, help establish licensing value, or to evaluate infringement litigation risk, the PF/i Reports provide a fast, reliable overall assessment of a patentÂs strengths and weaknesses.
The computerized report, which uses the companyÂs human-like Latent Semantic Analysis patent search engine, is a significant advancement for computer-based patent evaluation. The PF/I reports are an affordable alternative to the hand-researched patent reports that consulting firms charge thousands of dollars for. The PF/I Reports may even outperform humans since the semantic engine, which searches nearly three million US patents, finds highly relevant patents that even the most skilled patent searchers miss.
The PF/I Report, the latest addition to PatentCafeÂs quickly expanding line of patent informatics solutions, performs dozens of calculations for each patent being evaluated. The reports also integrate with the recently introduced ICO Patent Portfolio Manager, and ICO Patent Competitive Intelligence Alerts.
Sneak previews of the solution have already found favor with university, venture capital, patent licensing, and Fortune 500 executives, as well as intellectual property consulting organizations Â and for good reason: the reports perform in about a minute as much as a patent professional can accomplish in a few days.
Andy Gibbs, the companyÂs CEO notes: Âduring the 1960s, patent counts and frequency of occurrence of certain patent indicators were proven as reliable statistical predictors of economic, legal and technological behaviors of patents. We believe our PF/i Reports are the single most comprehensive patent evaluation modeling tool ever made commercially availableÂ.
The PF/i Report is the first to combine over 50 years of collective work on proven patent data modeling by renowned economists, mathematicians and researchers, including Criscuolo, Hall, Jaffe, Trajtenberg Reitzig Schankerman, Lanjouw, the seminal work of Griliches and Scherer, as well as PatentCafeÂs own innovation analysis model introduced in 1996.
With 85% of the market cap of the Fortune 500 companies attributable to intangible assets, being able to value, or evaluate patents is no longer a luxury, but a must. But computerizing patent analysis is tough. Gibbs says Âthe few patent reports currently available compute a total ÂscoreÂ or ÂratingÂ. Single scores distort the real world analysis that demands separate consideration of the three core patent value components: the Legal, Commercial, and Technological factors.Â
Over the past few years, critics have argued that the US Patent and Trademark Office has issued thousands of poor quality patents that should never have been issued in the first place. An example is SmuckerÂs recent patent number 6,004,596 for a crustless peanut butter and jelly sandwich. Download the free SmuckerÂs Â596 patent Report for at http://www.iamcafe.com/patent_reports/index.asp
The Patent Factor Index Report for the Â596 patent scored a ÂzeroÂ for patent validity of the PB&J patent because of the more than 100 closely related patents it identified while computing the report. One of the relevant prior art patents cited by the PF/i report was Little CaesarÂs 1995 pizza pocket patent no. 5,756,137, ÂMethod for preparing a [stuffed] baked dough food productÂ.
The SmuckerÂs patent scored well in the PF/i Commercial Factors section, and indeed SmuckerÂs sales of its PB&J ÂUncrustablesÂ has been sweet. But making a ÂGOÂ investment decision based on commercial scores alone, without assessing the corresponding Legal risks or Technology value, can be a misuse of the companyÂs time and money.
ÂThe bottom lineÂ, says Gibbs, Âis that the PF/I report shows that the crustless PB&J may be a profitable slice of SmuckerÂs business pie, but as the Patent Office and critics attest, the technological value may not rise to the level of patentability. Our new reports empower non-patent professionals to get an excellent perspective on a patentÂs value in just minutes.Â
Using proven models such as multivariate regression, econometric, citation and bibliometric analysis of patents that analyze large data sets of patent indicators, the PF/i reports analyze the three critical indicators to help determine ÂvalueÂ. The final report provides more than a patent score, it provides backup information such as a list of potential patent licensees for the patent portfolio manager, and lists of closely related patents that litigators may use for invalidity defense in a patent infringement suit.
The PF/I reports, more than 10 pages long, even provide insight on the patentÂs ability to withstand an opposition (such as invalidity attempts against it), and predict the likelihood of a patent being the subject of a patent lawsuit.
Individual PF/i Reports for any US patent issued since 1976 may be purchased online for under $300. Analysts, litigators and Biz Dev managers may obtain unlimited licenses to PF/i Reports by contacting PatentCafe.
PatentCafe is a leading global provider of patent research tools and intellectual property management solutions.
Legal, technology investment, engineering and business professionals worldwide use the companyÂs ICOÂ Suite of enterprise IP management solutions to transform patent and technical data into actionable business information.
ICOÂ solutions deliver the next generation data mining and patent informatics for improved patent quality, superior competitive intelligence, licensing revenue optimization, and corporate governance compliance.
For more information, or to arrange an interview with PatentCafe CEO Andy Gibbs contact:
441 Colusa Avenue, Yuba City, CA 95991
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