Necessity is the mother of invention, and data holds the roadmap to innovation. The information age has left businesses with no excuse but to leverage the power of data to gain insights and make educated decisions. Data allows e-commerce businesses to track on-site customer behavior, and manufacturing businesses to evaluate the efficiency of existing processes.
Another use of high-accuracy data is patent visualization. An application of information visualization, it has become necessary for businesses to consider intellectual property as a part of their strategy, as the number of patents filed has been increasing at a significant pace.
Businesses can visualize and understand existing and prospective patents with the help of a patent and portfolio analytics platform. Such platforms provide options to visualize specific data within patent documents.
A leader in the patent visualization space is PAT178 (placeholder name, the company would like its identity to remain confidential), a multi-faceted encyclopedia of R&D and IP datasets. PAT178 provides millions of data points surrounding patents and IPs, among other offerings. This information can help businesses connect the dots between strategizing and innovating.
The importance of data that doesn’t mislead
Businesses cannot trust data that raise more questions than answers, especially with spaces as sensitive as patent visualization. A significant aspect of understanding patents is accurately identifying the holder of the patent. Patents could be held by businesses, research teams, or even individuals. PAT178 has this data, but here’s the problem they needed to address.
Patents change hands during acquisitions, corporate restructuring, or during business shutdowns. These activities happen a lot more than one might expect, and this jeopardizes data that contains related patent info.
PAT178 holds information on more than 140 million patents, patents owned by numerous organizations. For that information to live up to its potential, the details of the patent holder need to be accurate. Users of PAT178’s platform require clarity on patent ownership and understand special cases, such as the patent holder being the subsidiary of a larger organization.
PAT178 turned to Bridged to solve this puzzle.
The information at hand
PAT178 provided us with data that held information about pairs of entities. The aim was to research the relationship between the two, and detail their connection. The entities could be businesses, investing firms, educational organizations, among many others.
The data provided had the following information, with which the above-mentioned pairs needed to be analyzed:
- Entity name (Eg: Amazon, Unilever, etc.)
- Entity type (Holding companies, Investors, Subsidiaries, etc.)
- Location (City, State, and Country)
- Website URL
- Founding year
- Business Description
Differentiating one entity from another
To solve this, PAT178 made use of Bridged’s proprietary technology and its 13,00 strong workforce. As a leader in the AI/ML training data space, we’re seasoned generators of clean data, and we understand the factors that create them.
Unraveling this data involved studying the backgrounds of the provided entities, understanding their operations, and tracking their global footprint.
The workforce was trained to:
- Understand the data at hand
- Verify and retrieve entity information
- Analyze if both entities shared any significant connection
- Perform due diligence on each entity by researching historical data and the entity’s present scenario.
Bridged delivered 50,000 data points that aid PAT178’s patent visualization platform with improved data clarity. We are continuing to help them explore future use cases.
Advantages of clear patent information
When users are interested in using a particular patent, access to clear information is paramount. Patent holders generally first file time-consuming and costly lawsuits on the user before any licensing agreements are ever reached. On the other hand, it can generally be expensive and confusing for patent holders to locate potential users.
In this foggy adventure, access to accurate data allows individuals and businesses to make efficient decision-making around patent usage and outreach.