LexisNexis PatentSight is a comprehensive intellectual property (IP) analytics and intelligence platform designed to enhance strategic decision-making for IP teams, patent professionals, and R&D departments. Here’s an overview of what the product does and its key features:
What PatentSight Does
PatentSight is a sophisticated tool that analyzes patent data in conjunction with various other datasets to provide a highly accurate and informed assessment of an IP portfolio’s strengths and weaknesses. It aims to elevate decision-making by offering unparalleled data quality, actionable insights, and impactful visualizations.
Key Features and Functionality
Data Quality and Coverage
- PatentSight incorporates multiple data types that are rigorously cleansed, quality-checked, and enriched. This includes over 100 million patent documents from global patent offices such as the European Patent Office and the U.S. Patent Office.
- The platform provides a wide net of patent data coverage, including portfolios of private and stock-listed companies, and allows tracking of patent history back to the early 1990s.
Actionable Insights
- The platform leverages powerful AI-driven analytical capabilities and proprietary metrics, such as the Patent Asset Index, to measure the net innovative strength of a company or patent portfolio. The Competitive Impact feature assesses the individual strength of a patent family.
- Features like TechDiscovery use generative AI and machine learning to generate instant overviews of patent landscapes with just a few keywords or a brief description, helping users discover new technology spaces and reduce time-to-market.
Impactful Visualizations and Communication Tools
- PatentSight includes innovative visualization tools such as the Patent Family Tree, which automatically generates a comprehensive, hierarchical tree diagram showing priorities, filing dates, and relationships between applications, publications, and grants. These visualizations can be downloaded or shared directly for enhanced collaboration.
- Technology Clusters group similar patent families into hierarchical clusters, enabling users to identify trends, compare portfolios, and make informed decisions within predefined technology domains.
Enhanced Collaboration Features
- The platform allows users to organize patent data using tags and custom fields, adding layers of visibility and precision to the analysis. This facilitates streamlined discussions and decision-making across teams.
- Sharing functionality enables the distribution of workbooks containing patent portfolios, competitor landscapes, or technology assessments. Users can add comments, tag patents, or update fields in real-time, ensuring everyone stays aligned and informed.
AI and Machine Learning Capabilities
- AI Classification in PatentSight provides accurate and up-to-date patent information, helping users view technology spaces more accurately.
- The AI Assistant feature helps users access IP analytics and gain meaningful insights with less effort, enhancing the speed and depth of insights.
Workflow Optimization
- Quick Insights offers an intuitive guided experience at the start screen, allowing users to reach their analysis faster by inputting search queries focused on Owner, Technology Cluster, or SDG.
- Sheet Navigation and Management features enable efficient curation of workbooks, including adding, deleting, renaming, duplicating, previewing, reordering, and searching sheets.
Customization and Flexibility
- PatentSight allows for customized technology classifiers and the inclusion of tailored metrics, ratings, or notes through custom fields. This reflects an organization’s unique perspective on patent quality or risk.
- The platform offers flexibility in data delivery, providing data in various formats such as API, FTP, or other preferred methods.
By combining these features, PatentSight empowers IP teams to make high-value strategic decisions, optimize workflows, and enhance collaboration, ultimately driving more informed and efficient IP management.