Patent Analytics In Action – Using The Patent 300® Dashboard
January 19, 2021 – Rocky Berndsen, Head of Analytics at Harrity, gave a webinar on how companies and law firms can use the Patent 300® Dashboard to understand their own portfolio, their competitors, and the patent field in general. A video of the entire webinar can be found below.
The demonstration included a deep dive into how to analyze the technology breakdown for a company’s patent portfolio, and how to benchmark patent prosecution statistics across companies patenting in the same technology areas. Rocky demonstrated how companies and law firms can use the “Company By Law Firm” report to benchmark the patent practice efficiency of the outside counsel that are prosecuting the patent applications for a company.
The webinar then transitioned to a cost-based analytics report called the “Company by Costs”, which gives users the ability to customize the analysis by selecting their own outside counsel fees. The report provides users with an “Average Cost Per Patent” value by law firm, that users can use to benchmark outside counsel performance, and identify areas within the practice to reduce cost and practice more efficiently.
The “Gap Analysis” demonstration showed how easy it can be to compare the patent portfolios of two companies with the click of a button. In-house counsel use this report to easily visualize two portfolios side by side and identify whitespaces and portfolio overlap.
The webinar then transitioned to how law firms can use the dashboard for law firm client development and new client business development. Using the “Law Firm by Client” report, law firms can visualize all of their patent prosecution statistics for a given client to identify strengths and weaknesses that can be used to promote their firm’s services to their clients and to make modifications to their current practice to deliver better services.
For detailed analytics on the patent field, Harrity Patent Analytics makes available the Patent 300® Dashboard, the intellectual property industry’s premier resource for patent insights and competitive intelligence on the world’s leaders in technology. It contains analytics on more than 6,000,000 patents, including patent portfolio analyses, detailed patent prosecution insights, technology area breakdowns, and portfolio cost and budget analytics.
About Harrity Patent Analytics
Harrity Patent Analytics, an analytical team within the boutique IP law firm of Harrity & Harrity, LLP, uses cutting-edge capabilities to analyze patent data and extract insights for clients to use when making strategic decisions regarding patent portfolios. Patent 300® companies rely on Harrity Patent Analytics services to understand their patent portfolios, the patent portfolios of their competitors, and patent office trends around the world. For more information, visit harrityllp.com/services/patent-analytics/.