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Risk Modeling, Not Patent Mining: Identifying the Best Patents for Licensing

By Arthur M. Nutter

Patent value increases when positive cash flow can be attributed directly to it. Ideal patents for licensing are those already being used (or, perhaps, abused) by others. Unfortunately, identifying unauthorized patent use can be like finding a needle in the proverbial haystack. Random patent mining by bibliometric methods is an extremely inefficient method of identifying licensing candidates ' but many patent owners continue to use such methods out of habit.

A less expensive, less haphazard method relies on risk modeling done much the same way as Wall Street analysts price derivative products or actuaries determine insurance premiums. Increasingly, patent and other IP owners are relying on the experience of technical experts, such as engineers, scientists, programmers and others experienced in a particular area of art and product development to assess the “real world” strength of their proprietary rights and the revenue generating potential of their intangible assets.

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