IP Prism’s AI-based scoring system is used in today’s business to facilitate strategic portfolio pruning.
IP Prism’s AI-based scoring system allows patent owners to prune out patents that aren’t in use and leave their patents more valuable to the public. The scoring system works very well in our small, international business. We don’t want to buy up too much market share at a time, so we can focus on being great at what we do.
Although it’s not an easy task, strategic pruning allows for an opportunity to improve the quality of IP in your portfolio. Intellectual property can think of as a resource. It is possible to think of it as an asset that you could sell or lease. A strategy that focuses on keeping your assets good and growing them. It is one of the best ways to maintain a high level of value for your intellectual property.
This system helps businesses align their patent portfolios with current priorities.
IpPrism IP scoring system is a unique way to manage a company’s patent portfolio. It is the most innovative approach to patent management in the world. So easy-to-use and automated system. They can use by any business organization to efficiently and effectively manage its portfolio of patents.
The product was first introduced back in 2008 and has been reviewed by both industry experts and regular users ever since. The biggest advantage of this method over other similar systems is the fact that it does not require any manual intervention from the business owner. Since it’s a purely automated process, there’s no need for human intervention, which adds value to the overall company.
The automated process would also help companies reduce their costs, as it would allow them to save time and money by eliminating needlessly expensive filing procedures with unnecessary repetitions.
The IP Prism marketplace makes it easy to capitalize on patents that are being shed from a portfolio.
IP Prism’s marketplace is the world’s most effective patent search engine. Simply type in a word, and IP Prism will quickly find the patent pertaining to that word. The patent is then automatically added to your portfolio if it’s relevant.
If you want to target a specific technology or market, you can do so with IP Prism’s AI-based scoring system. This allows you to prune your portfolio of patents that don’t meet your business objectives. And this is just the beginning because we are working to make IP Prism an all-inclusive marketplace for intellectual property.
This system can help businesses save money by letting select patents expire early.
1 How is IP Prism’s AI-based scoring system used in today’s business?
2 How is a patented technology used to score patents?
3 How does the patent system work?
This is an overview of the patent system for businesses. How does it work? How
is it used in everyday business?
What are the benefits and disadvantages of the patent system?
What are the tools and processes that help to implement it in business
How do organizations implement it? What does this mean for their portfolio and strategic pruning process?
IP Prism’s AI-based scoring system is used in today’s business to facilitate strategic portfolio pruning.
IP Prism’s marketplace helps patent holders and licensors capitalize on their portfolio by eliminating patents that don’t meet business needs. The system uses algorithms to help drive a patent’s value while still maintaining a high patent quality score.
The algorithm is based on the same principles used to improve Google search results. But instead of using keywords, it uses a scoring system to assess each patent for its strategic value.
This allows for much less time-consuming and more effective strategies like pruning and aligning patents across different industries and sectors.
Conclusion: This system can help businesses save money by letting select patents expire early.
In this conversation, I have removed the term strategy from our definition and swapped it for IP Prism’s scoring system. What is a strategy? If we define it as “the art of making the most advantageous use of what is at your disposal,” then IP Prism’s scoring system will be a strategic algorithm that can help businesses save money by letting select patents expire early.
The company uses its AI-based scoring system, which has been in development for a few years now, to manage its patent portfolio. To provide a clear example, you may be familiar with how one company might purchase dozens of patents from another company and how this might impact their bottom line by slowing down their growth or even having their competitor sue them over patents they purchased from them. This would have an adverse effect on both parties and could lead to negative outcomes for both them and the ecosystem as a whole.
IP Prism’s AI-based scoring system, which can be found here, was developed to mitigate some of the issues mentioned above by taking into consideration the strategic importance that each patent has within different sectors/industries. For example, in medicine IP Prism utilizes five main criteria (some used in conjunction with each other) that determine whether or not a given patent should be renewed or let expire:
1) Whether or not there are any licensing opportunities for this patent in other countries/regions. 2) Whether or not there are other pending claims against it. 3) Whether or not the technology behind this patent has been used previously. 4) Whether or not there are related patents that cover this same technology. 5) If we assume that any party could make a licensing deal using two of these criteria (and we assume they do so), how many additional licenses do they control? In other words: Do they need to license more than 100% of all potential targets? If so, why isn’t this done when acquiring patents? How many additional licenses would they need if they wanted to acquire these same patents without having to pay any licensing fees?
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