Helpful Innography Analyses for Licensing to Other Industries
In our recent webinar with Dr. Monty Wright from General Electric, he reviewed a terrific process for licensing your patents to other industries. We’ll give the steps below of Innography analyses that perform the steps in his process.
Start with an “infringement hypothesis” – a technology in the market that is provided by a different industry which may infringe on your patents. From the process described by Dr. Wright, use these analyses to validate the hypothesis and home in on the patents that would be most beneficial to analyze further:
- Directed Semantic Search: From existing text descriptions of the technology, use directed semantic search to find the closest patents in your portfolio to the technology. If you find high-relevancy and high-strength patents in your portfolio,
you have something to move forward with.
- Text Clustering: Use text clustering to find the sub-elements of the technology that your patents may cover. Starting with Innography’s Summer Release, you should do a text cluster both with claims and without claims; without claims will show overall groupings, and with claims will show more detail on the specific technology elements of interest.
- PatentScape: Using the same relevant patents in your portfolio, perform a PatentScape analysis, grouping by class codes. This shows the density and diversity of your patents per specific technology element, which you can use to narrow the specific technologies and patents to move forward with.
- Market Map: To find other players in the market, create a market map from a semantic search of the technology against the full universe of patents. If there are NPEs present, this gives you confidence that this is an important technology area. In addition, you will see potential licensees who are from all industries, including those outside your core industries.
- Playbooks: To dig into the potential licensee companies, run the “Portfolio Breakdown” Playbook.
These analyses help a licensing specialist to zero in on “licensing candidates”: both the most likely patents to pursue in a technology area, and the highest-potential licensees in the space.