Harnessing the Power of Patent Analytics - A Panel Discussion During IP Week in Singapore

It was my pleasure to moderate, and speak on a panel discussing patent analytics, and the impact it has on organizational decision making during IP Week @ SG in Singapore. The panel was one of several discussing the business implications of intangible assets during the IP Management for C-Suite portion of the program. Joining me on the panel was a distinguished collection of practitioners from the world of patent analytics. The session was particularly interesting since each of us were asked to comment on how patent analytics can be used to support decision makers with different agendas, and perspectives on the use of patent assets. So while each of us were talking about patent analytics in general there was very little overlap in our comments since we were providing specifics on the topic from a variety of different angles.

The list of speakers, the topics we were asked to speak on, and where available the slides presented are included below:

Tony Trippe – Managing Director, Patinformatics LLC
Policy makers’ perspective

• How can patent offices and government funding bodies utilize patent information to shape and influence policy making?
• How can patent information be used for “crystal-ball” gazing at the national level?

Barry Brager – Founder and Managing Partner, Perception Partners
Investors’ perspective

• Making the right call – leveraging patent intelligence for IP and technology transactions
• Uncovering intangible assets through the effective utilization of patent analytics

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Dilip Pandya – Manager, Research & Analysis, Qualcomm
Management’s perspective

• Developing high value management reports through the utilization of business intelligence, competitive intelligence and patent information
• Delivering strategic insights through competitive landscapes
• Moving patent analytics up the value chain in corporations

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Kas Kasravi – HP Fellow, HP Enterprise Service Business Unit
Innovators’ perspective

• Utilization of patent analytics to identify promising next generation advances for effective R&D and product development
• Extracting value from patent data – what are the key challenges?

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Jeffrey Tiong – Founder and CEO, PatSnap
Local SMEs’ perspective

• What local industries are using patent information? How are they using the information?
• Propelling businesses through analysis of patent information – what do you need?
• What are the free or affordable tools available to SMEs and start-ups?

When asked about the single most important item new patent analysis practitioners should consider when staring an analytics program all of the panelists agreed with Barry when he said that analytics needs to have a clear purpose, and be used. Too many analysis reports, no matter how well written, end up not being read, or used for decision making.

Kas provided the following additional comments to the materials in his slides:

1. Analytics doesn’t replace “thinking”; the patent specialist is still needed; analytics supports the specialist via deep insights based on data.
2. An ideal analyst should be familiar with patentability requirements, and have an intimate knowledge of the subject matter.
3. Clear business goals must be defined, yet be open to serendipitous discoveries.
4. Non-patent data can provide contextual information, hence enhance the analysis.

Dilip also provided some additional comments after the panel was completed:

I too agree with Kas that no matter how many ‘big data’ tools are out there, the analyst with the ability to make sense of the data will always be required!

There were many fantastic panels, in addition to ours that were presented during the two-day event including sessions on:

• IP in the Evolution of Business Models: Past, Present and Future
• IP Valuation & Financing: What Companies Need to Know
• Global Trends on IP Monetisation
• Creating an Effective IP Portfolio as a Business Strategy

The full program for the session can be found at http://www.ipos.gov.sg/ipwk2014/index.aspx-page=21.htm

Slides from the majority of the program will be made available on the conference web site at a later date.

It is clear that the country of Singapore places a high value on the importance of intangible assets, and in particular intellectual property and patents. They are making great strives in shaping their country into the IP hub for the ASEAN region. The investment they are making in expertise, infrastructure, and engagement from the local financial community are certain to pay rich dividends down the road.