Reed
Technology and Information Services Inc., a LexisNexis company,
today announced an agreement to acquire PatentCore, the
Minneapolis-based developer of the LexisNexis® PatentAdvisorSM
solution suite. The acquisition will enhance the LexisNexis
intellectual property (IP) offerings and give customers access to a
broader range of innovative and unique IP services.
“Our relationship with PatentCore has helped us integrate more dynamic
patent analytics capabilities into a strong base of IP products and
services available through LexisNexis,” said Samuel Hardman, President
of Reed Tech. “PatentAdvisor offers highly valuable analytical and
statistical insights on patent prosecution and portfolio management that
are unique in the marketplace.”
PatentAdvisor is a suite of easy-to-use, web-based patent analytics
tools that make patent prosecution a more strategic and predictable
process for IP-driven companies and law firms. The suite leverages
mature big data sets and analytics, delivering searchable and actionable
information to drive more effective and efficient patent prosecution and
management.
The patent acquisition timeline can be highly variable due to a variety
of factors that impact the way individual patent applications are
treated within the U.S. Patent and Trademark Office (USPTO). Because the
number of required office actions differs dramatically across art units,
as well as from one examiner to the next within art units, a company’s
cost of obtaining a patent can also vary dramatically with each
application. PatentAdvisor provides a way to better understand, diagnose
and measure the cost of patent prosecution. With clear, visual cues
outlining the points at which low allowance rates and high numbers of
office actions intersect, PatentAdvisor delivers a competitive advantage
to companies that want to practice more precise, effective patent
prosecution.
By assessing USPTO patent examination patterns, PatentAdvisor also helps
law firms practice more precise prosecution to facilitate better client
communication, build trust with clients and develop additional business.
With the built-in measurement tools of PatentAdvisor, law firms now have
a powerful client development tool that provides objective patent
prosecution metrics to IP-driven companies.
Current PatentAdvisor customers across a range of leading IP law firms
and intellectual property-driven companies from a variety of industries,
including technology, electronics and life sciences, are already using
the PatentAdvisor platform to significantly increase the efficiency of
their patent prosecution process.
Christopher Holt, CEO of PatentCore, joins Reed Tech as Vice President
of Patent Analytics. “I’m very excited to be joining LexisNexis and Reed
Tech to better serve the needs of the intellectual property market,”
said Holt. “Together, we will accelerate the innovations and develop
solutions that use predictable statistical insight to reduce blind spots
for IP professionals.”
PatentAdvisor joins LexisNexis TotalPatent®, LexisNexis
PatentOptimizer™, LexisNexis IP DataDirect and IP Services (formerly
ReedFax®) as part of a comprehensive and growing portfolio of IP
solutions designed to meet the most critical needs of IP
professionals.
About Reed Technology
Contacts
Reed Technology and Information Services Inc.
Elisa Rodgers,
215-682-8283
erodgers@reedtech.com
Copyright (2014) Business Wire.
All Rights Reserved.
Article source