The goals of designing a portfolio strategy are to identify gaps and whitespace, uncover potential infringements, optimize your portfolio, and increase technological diversity. As IP professionals, we understand that patent portfolios can be the foundation of a business and require a detailed examination of your intellectual property assets, competitors, and acquisition targets.
Patent portfolio mining is a customized, systematic, and cost-effective review of patent portfolios used to identify the most valuable assets. At Lumenci, we provide patent mining services by dividing the portfolio into various segments based on an expert's specific knowledge to provide the portfolio's appropriate review. Next, we assign each divided component to the respective expert. Our experts are well versed in reviewing large sets of patents and provide a ranked assessment in the stipulated time.
We believe that transparency is an essential factor driving our service quality, so we provide a documented report based on our patent rankings. It allows our clients to inspect and find comfort in every aspect of our strategic approach.
IP valuation is an all-inclusive economic appraisal of IP assets. By combining valuation expertise with industry knowledge, we provide accurate value analyses based on generally accepted methodologies. The three approaches we use are the cost approach, market approach, and income approach. These approaches lead to accurate valuations and assessments to influence the consideration of buying, holding, or selling of assets.
The valuation expert estimates the economic value using all the below methods and compares them before finalizing their recommendation.
In this approach, the asset's acquisition cost determines the value of the asset. The cost is formulated using historical information relating to the cost incurred during development or using the cost required to replace or reproduce the asset.
This approach determines the value of the IP assets in a free market. The experts then examine the prices of similar properties that have commanded the market.
The evaluation of potential income derived by the IP assets is done through the income approach. After estimating the value, it is presented in terms of potential economic benefit.
Patent landscaping is designed to present a general idea of the existing prior art in a specific area. It is mainly an information collection and presentation method that uses either an all-inclusive or a limited search depending on the need. This type of patent search is used to identify gaps in IP coverage, produce technical assessments, track the competition, and research other patents through mining. These searches also help with the client's R&D planning. At Lumenci, our team of experts provides an indispensable patent analysis along with the state-of-the-art searches.
Freedom To Operate (FTO)
The objective of a Freedom to Operate (FTO) patent search, or patent clearance search, is to recognize in-force patents or published patent applications with claims that cover the targeted technology, process, or product. Our FTO search service helps identify potential patent barriers in commercializing our clients' products or technologies. This process of due diligence examines the language of the claims of third-party, in-force patents as a means of assessing clients' risks of potential infringement.
We create a dedicated FTO search team for each clearance search assignment, consisting of a subject matter expert and a search expert. The team is trained to perform the task using an iterative process that handles searching, finding, and examining relevant prior art efficiently and effectively.
Invention Evaluation Programs
Our partners find that their innovations exceed their inventing budget in many cases, so they identify the highest-value ideas and proceed with those. We call this identification process 'invention evaluation.' It involves both a technical and business assessment.
Lumenci's experts have performed over one thousand such evaluations and designed best-of-breed evaluation processes. We work with your team to set up an evaluation process and educate the reviewers about best practices.
Invention Recognition Programs
Some inventors are motivated simply by the challenge of inventing, but recognition -- even small amounts of tailored recognition – is often well-received by the inventor population.
Lumenci has over 15 years of experience designing invention recognition programs and works with your HR team to design a program appropriate for your teams.