Using the Patent Asset Index™ for Patent Portfolio Benchmarking
In business, much like in any other competition, it is imperative to keep your competitor’s progress in mind while making decisions for the future. Benchmarking has been a proven method for this. A major issue that decision makers face with organizational benchmarking is that if the right targets are not set, your organisation runs the risk of achieving mediocre or unintended results. This is true for all the metrics that are benchmarked, as is the case with the value of patent portfolios.
LexisNexis PatentSight’s Patent Asset Index™, which has been developed based on extensive scientific research, has established and proven that there’s much more to patents than meets the eye. Based on our model, the value of a patent is assessed by measuring two main quality indicators, viz. Technology Relevance™ and Market Coverage™. These values are scientifically calculated and further adjusted, by considering for various dissimilarities, to ensure overall uniformity and reproducibility.
In this whitepaper, we compare active patent numbers and revenue generated from Intellectual Property, of IBM and Qualcomm - two of the leaders in the IT industry. By using the LexisNexis PatentSight BI Custom Analysis™ it becomes obvious as to why an in-depth analysis of patent information is irreplaceable when benchmarking the best practices in IP management.