Expiration Date Calculations Now Available
As IP software developers, there are always choices about what could go into the products, and internal debates (i.e. arguments) over how much value new features would provide. We balance a number of considerations (including the things you ask for) to decide what makes it into a release. I think my colleagues would agree that it is geeky fun for us to automate messy manual processes and deliver the data you need without you having to do a thing to get it.
Case in point, global expiration dates… so many factors go into when a patent expires. So. Many. Factors. Few vendors want to tackle data correlation at all, but especially not an area as messy as expiration dates. Most of our competitors like to stick with the easy stuff. We calculate the expiration dates because knowing a precise expiration date is helpful for both strategic and valuation purposes.
For example, many of our clients routinely buy, sell and license the currency we know as patents. Buyers would not usually want to pay top dollar for a patent expiring soon. When creating barriers to entry or a litigation avoidance strategy, patent expiration dates are also very important. Even when considering your long term R&D strategy, pacing applications to cover expiring technologies is a smart thing to do.
We continue to evolve our expiration date calculations as the database grows. Recently while updating the algorithms and addressing non-US patents, we decided to display how we arrived at the expiration date on the Patent Overview page. Showing the calculation provides a nice level of transparency for our user community, another thing we try to do when we can. There it is, right in front of you, but under the hood all sorts of cool things are happening.
Like I said, we enjoy geeking out.
We hope you enjoy the expiration date calculations.