PatSnap Named Sponsor at The Knowledge Group’s Event “Patent Portfolio Management: Tools and Best Practices Explored,” on 4/12/2022

PatSnap teams up with The Knowledge Group for its upcoming webcast entitled “Patent Portfolio Management: Tools and Best Practices Explored.” This event will be held on April 12, 2022, from 12:00 PM to 1:00 PM (ET). End Quote

(1888PressRelease) March 25, 2022 - For further details about this event, please visit:
https://knowledgewebcasts.com/know-portfolio/patent-portfolio-management-cle/

About PatSnap
With the application of machine learning and AI, we connect patents, licensing, litigation and company information with non-patent literature to bring together the world’s most comprehensive IP and R&D datasets into one easy-to-use platform giving you actionable intelligence to support your decision making.

Event Summary
Patent portfolio managers are increasingly being asked for more business partnerships. From being solely responsible for the protection of the revenue streams and the company against retaliatory litigations, in time, they are asked to partake as advisers on the innovation landscape for expansive research. For this reason, integrated patent portfolio management and collaboration between IP & R&D teams have become as important, more than ever. And with this, patent portfolio managers are taking the lead as strategic business partners and advisers.

This LIVE Webcast will discuss the following key topics:
• Patent Portfolio Management (PPM) Updates and Developments
o Increasingly companies are looking at AI and ML to better manage their patent portfolio
 Eg Semantic ranking to identify patents belonging to the same domain, using tech clustering, tech topics to aggregate and categorize their portfolios (we can elaborate on this technology… what Patsnap is working on – requests from customers, our work on Tech Topics, Ctegorization – share personal stories from what we’re hearing from our customers)
 How many of these former thought processes evolving away from manual approach, thought as of the only solution, now more portfolio managers likely to use this developing technology
o Previously, all these tasks were very human driven
• Challenges and Opportunities
o Patent Pruning
 Opportunity: Streamlined processes (AI & ML)
 Challenge: Quantity over Quality – visualization tools like Patsnap – understanding life of a patent and visualizing remaining life of a patent and what is actually yielding profit
 This comparison is very important but still requires manual analysis – product to patent comparison & profitability which is a solution the market is still working on
 Where we can highlight collaboration tools to capture this info
o Classification
 Opportunity: Better classification to drive better invention submission – If I can classify my patents better, I can better do apples to apples comparison of patent holding across my competitors to then look at external factors
o Business & Innovation Risk Analysis:
 Challenge & Opportunity:
 Patent portfolio manager are increasingly being asked to be business partners to R&D
 No longer operate as separate functions
 They are asked to use patent data to offer advisor for the R&D team
• PPM Tools and Best Practices
o Visualization tools – Patsnap
o IPMS Solution
 Best practice – coordination between R&D and IP
• An Outlook
o Our outlook is the theme and business that will be successful going forward will adopt this mentality and collaboration to reduce initial expenditure, development and more importantly prune and optimize existing portfolios.

About The Knowledge Group
Founded in November 2006, The Knowledge Group has been at the forefront of providing quality continuing education programs for lawyers, accountants, financial executives, risk and compliance specialists, human resources professionals, technology officers, and business consultants in a wide range of industries.

The Knowledge Group strives to be the best-in-class provider of continuing education by bringing forth relevant content you can’t get anywhere else.

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