Law Technology News: New Service Tracks Patent Sales
A new service from Innography tracks patent transactions.
Innography Inc. released its new Patent Market Tracker today. The new data set and analytics service monitors the buying and selling of U.S. patents.
The main source of data for Patent Market Tracker is the change-of-ownership data sets from the U.S. Patent and Trademark Office data feeds, including USPTO Patent Application Information Retrieval and USPTO Patent Assignment Database, said Innography CEO John Martin. The tool combines a dozen algorithms and filters to highlight trends and transactions, Martin said.
Patent Market Tracker users receive an updated list of patent sales every month, Martin said. The service also offers data dating back to 2011. Patent Market Tracker is an add-on service to the Innography IP analytics platform Advanced Analysis.
Patent purchases are “an indicator of strategic interest in a technology area,” the company said in a July 30 press release, and “provides strategic insight into future patent litigation or licensing trends.”
New owners of patents are more than twice as likely to start litigation over a patent, Innography said. The company estimates that more than 80,000 U.S. patents are purchased from owners each year.
“Operating companies typically purchase patents to defend existing or new products, or to file counter-litigation against their competitive product companies,” said Martin. “Non-practicing entities who purchase patents are usually looking to monetize these patents through licensing and enforcement actions, including litigation.”
Innography clients generally consist of patent owners (e.g., product manufacturers), non-practicing entities (e.g., universities, trolls) and IP service providers (e.g., IP lawyers and patent brokers).
Patent Market Tracker is available to companies on an annual subscription basis. Synopsys Inc. is a Patent Market Tracker subscriber. The electronic design automation company is headquartered in Mount View, Calif.
Austin-based Innography was founded in 2007 and provides intellectual property management software.
Mark Gerlach is the staff reporter at LTN. Twitter: @LTNMarkGerlach.