Reed Tech Introduces LexisNexis PathWays™ Predictive Analytics Solution for Patent Professionals
Horsham, Penn. (PRWEB) April 07, 2016 -- Reed Technology and Information Services (Reed Tech), a LexisNexis company, today announced the launch of LexisNexis PathWays™, the only software engine that leverages the power of big data to enable patent lawyers to estimate the relative cost and length of time to obtain a patent in addition to its chances of success—all before filing the application. An innovative patent classification engine created to predict the path a patent application is likely to take at the United States Patent & Trademark Office (USPTO), LexisNexis PathWays enables patent lawyers to easily characterize inventions in a way that can lead to more cost-effective applications that can be approved more quickly.
“There is tremendous variability within the USPTO in regards to how each art unit treats applications,” says Chris Holt, Vice President of Patent Analytics at Reed Tech. “By understanding the conditions of the art unit environment before beginning the filing process, the application can be drafted so it aligns with the art unit that represents the best fit and gets in front of the examiners who best understand your technology.”
LexisNexis PathWays provides highly accurate predictive analytics on USPTO art units based on the language used in a query, from a single word to an entire draft patent application. By entering a description of the invention into PathWays, patent prosecutors can view graphical word clouds as well as detailed information that characterize the top five art units.
“Predictive analytics has become an increasingly popular technology for use in patent prosecution,” says Holt. “Now it can also aid patent filers in considering the most appropriate art unit.”
By utilizing Cooperative Patent Classification (CPC) and United States Patent Classification (USPC) searches, legal teams can explore alternate drafting ideas in order to re-characterize the application and facilitate a path to a more appropriate art unit, or just use the classification candidates to narrow a prior art search.
LexisNexis PathWays is complementary to a number of solutions comprising the LexisNexis portfolio of IP solutions that enable patent professionals to work most efficiently across the patent workflow, including LexisNexis TotalPatent®, LexisNexis PatentAdvisor® and LexisNexis PatentOptimizer®.
For more information, please go to http://www.reedtech.com/pathways.
About Reed Technology and Information Services Inc.
Reed Tech is the provider of best-in-class information-based solutions and services to meet the broad needs of the global Intellectual Property market as well as key regulatory needs of the Life Sciences industry. Our customers include the U.S. Patent and Trademark Office, IP-driven companies, law firms, and a wide range of pharmaceutical and medical device manufacturers. The corporate culture is driven by a commitment to excellence, innovation, and a strong dedication to its customers, employees and community. Reed Tech has worked in the patent arena since 1970 and has electronically captured and prepared for publication well over half of all U.S. patents ever granted by the U.S. Patent and Trademark Office (USPTO). Reed Tech is a LexisNexis company.
About LexisNexis® Legal & Professional
LexisNexis Legal & Professional is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. LexisNexis Legal & Professional, which serves customers in more than 175 countries with 10,000 employees worldwide, is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries.
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Elisa Rodgers, Reed Technology and Information Services, http://www.reedtech.com, +1 215-682-8299, [email protected]
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