FreePatentsOnline.com Announces New Patent Analytics Services
FreePatentsOnline.com is now providing novel patent searching and analytics services based on sophisticated statistical analysis of patent data. These new technologies for transforming patent data into business intelligence are crucial to companies with large IP portfolios.
Baltimore, MD (PRWEB) August 22, 2006 -- FreePatentsOnline.com announced today a complete suite of novel patent data and analytics services for businesses with sophisticated Intellectual Property needs.
These services include automated patent portfolio valuation, licensing opportunity assessment, competitive portfolio analysis, litigation risk analysis, and advanced searching capabilities based on Latent Semantic Analysis.
“Our patent analytics capabilities are now beyond anything the industry has previously seen,” said James Ryley, Ph.D., President of FreePatentsOnline.com. “We have world-class mathematical talent dedicated to developing more sophisticated, more accurate patent analysis and patent searching tools.”
For example, a new search engine based on Latent Semantic Analysis allows searching of patent data with concepts rather than words. The result is a search engine that can find relevant documents even if those documents do not have a single word in common with the search terms entered.
“We can find a document where the author used none of the words anticipated by the searcher, even if the document is misclassified by the patent office,” states Ryley. “For important searches where a single missed document can cost a company a lot of money, the significance of this ability cannot be overstated.”
Research into new ways of analyzing patent data is a leading priority for FreePatentsOnline.com. “Developing new ways to turn massive amounts of data into useful business intelligence is an important part of what we do,” said Ryley.
About FreePatentsOnline.com
FreePatentsOnline.com is a leader in patent searching, patent data analytics, and a provider of global patent data. More information is available at http://www.freepatentsonline.com.
Contact:
Erik Reeves, CEO
FreePatentsOnline.com
Phone: (443) 765-9242
Web Site: www.freepatentsonline.com
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