What is Patent Mining?

Patent mining is a term used in IP portfolio management to describe the process of managing and monetizing patent portfolios by identifying and prioritizing assets within an organization. 

Firms use the process to identify acquisitions that would strengthen existing patent portfolios.

Understanding and unearthing assets within an organization can reveal which technologies to license or sell to generate revenue, or which portfolios to totally abandon to reduce costs. It can reveal your market position and aid strategies to maneuver around envisaged roadblocks. 

The patent mining process also includes the identification and prioritizing of patentable inventions or ideas within an organization for the purpose of filing patent applications.

The objective of patent mining is often to pinpoint from a large patent portfolio, the highest-rated patent, and those with the likely best claims.

By Jumoke Eniola

This short article was created to serve as a writing sample only. It is not legal advice or a substitute for legal advice on any subject matter. The reader should understand that reading this sample article does not establish any advisory relationship between the writer and the reader.

PC: Colin Behrens, Pixabay