Proposal Title Better Patent Data, Better Patent Analytics
Category Information Technology and Communications
Abstract Better data analytics are needed for decision makers to understand how to leverage and commercialize their intellectual property. Our SBIR proposal introduces a novel valuation mechanism called Patent Rank which uses the mathematics of eigenvector network centrality to compute a transparent measure of value over time based on the patent citations (both forward and backward) of a focal patent. This meta-innovation about technology will benefit all facets of commercialization ecosystems, including: identification of viable entrepreneurial opportunities, assessment of internal/external technological venturing, evaluation of patent-assertion prospects, and overall management of radical innovations. As Google's PageRank algorithm has used rigorous mathematics to bring "order to the web," this algorithm has the potential to bring order to the patent-valuation problem. At a particular point in time, every patent within the entire universe of United States patents receives a score which can be ranked in a myriad of ways, such as: within a respective patent portfolio (a firm portfolio, an inventor portfolio, a patent-agent portfolio), within a technology classification (e.g., 705/310: DATA PROCESSING/Intellectual Property Management), universally within the entire network, and so on. Monitoring the diffusion of a patent's marginal score over time (i.e., a patent's Schumpeterian shock) also makes it possible to predict a potential lifetime value of a patent. To be successful in such an ambitious endeavor, we need the most up-to-date and cleanest patent data in order to improve transparency in an intentionally shrouded market mechanism. In order to be successful, we need to overcome GIGO issues (garbage in, garbage out); although our algorithm is robust, cleansing the data is essential to extract reasonable inferences from the computations. Our objective of the Kentucky-matching support is to synthesize and organize data-management processes into a unified configuration.
Amount Awarded $150,000
Keywords patent value, innovation, entrepreneurship, intellectual property, business services, knowledge discovery, visualizations, financial services, patent analytics
Point of Contact Monte Shaffer
509592 759
[email protected]
Entrepreneurial Innovation
Location Tucson
United States County