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LexisNexis Acquires Patent Data Analytics Innovator PatentCore

3/07/2014 by


Reed Technology and Information Services Inc., a LexisNexis company, today announced an agreement to acquire PatentCore, the Minneapolis-based developer of the LexisNexis PatentAdvisor solution suite. The acquisition will enhance the LexisNexis intellectual property 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. 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.

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