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Benchmarking

Objective measures make for reliable comparisons

 

 

Benchmarking your portfolio against others requires being able to see others through your own technology lens. Cipher provides an objective and repeatable way to benchmark your portfolio against your known competitors and new entrants.

Cipher has helped us answer strategic business questions specifically by presenting the data to us in a way that aligns with our own view of the world.

Jared Engstrom, Head of Patent Development, Red Hat

Have you ever asked these questions?

What’s the best way to compare my portfolio to others?

It is important to compare your portfolio through your own technology lens so that comapisons are aligned to your view of the world. Cipher enables you to build technology classifiers that maps both your and third-party patents to the same scope. Best practice suggests that you incorporate revenue into your model, as fair comparisons need to take account of these differences. Optimisation Model 

How do you take account of quality as well as quantity?

Cipher includes quality scores linked to citations, age and geography. These need to be combined with your own internal and subjective weightings. These include information about patents that have been successfully licensed or litigated. In many cases this may have more to do with the importance of the technology as the relative difference between patents in the same technology area.

What metrics make the most sense to CTOs and CFOs?

Increasingly patent teams produce dashboard tracking key indicators. CFOs often need to visualise the connection between cost and value, while the C-suite focus more on how the portfolio supports business strategy. Cipher supports business in the design, development and delivery of custom dashboards.

If these are your issues, Cipher can help you.

With improvements in AI technology and other analytics platforms like Cipher, today we are able to understand the numbers of patents that are relevant to certain technology areas at a push of a button.

Jeremiah Chan, Head of Patents, Facebook

How to use Cipher to support benchmarking

1

Define your objectives

Use Cipher to support the initial evaluation by defining the appropriate metrics whether age, geography, cost or other objective measures

2

Establish comparables

Define your taxonomy using Cipher to cluster or classify by technology and compare to competitors or other comparables

3

Develop a custom dashboard

Deliver dashboards that benchmark objectively and repeatedly using Cipher to support evidence-based decisons

Our issue was how to fit other companies’ portfolios into that same framework that we use and there’s just no other tool other than Cipher that can do that.

Bob Pechman, Chief Intellectual Property Counsel, Seagate Technology

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Case Studies

BAE Systems on the importance of competitive intelligence in disruptive technology environments

Chief Counsel for Intellectual Property and Technology Law, Dr. Bobby Mukherjee, explains how his IP team uses Cipher to help communicate the importance of IP internally and to navigate complex technology landscapes.
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Ocado on balancing IP protection with mitigation of patent risk and conflict

Head of IP, Lucy Wojcik, talks about the need instant answers to who’s doing what and how Cipher helped Ocado implement a world class IP strategy.
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Red Hat on using the Cipher Optimisation Model

Jared Engstrom, Head of Patent Development, talks about the growth in Red Hat’s portfolio, how he has used Cipher’s custom classifiers and how the Cipher Optimisation model has improved their understanding of the competitive landscape.
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Benchmarking

How can you know who to benchmark against?

Identifying your main competitors is straightforward, even if they differ by business unit. Cipher has automated the production of global landscapes using classifiers. This is a great way to identify companies outside your sector, including start-ups and Universities.

How can you be sure Cipher is accurate?

Cipher’s machine learning algorithms can be tested for accuracy using established measures of precision and recall. Cipher has published a peer reviewed paper in World Patent Information establishing its ability to achieve 96% accuracy.

What are the benefits of automating the production of benchmarking data?

Automation saves time and money. Cipher is an efficiency play. It also has the benefit of generating data that is consistent, objective and repeatable; eliminating unavoidable inconsistencies which are inevitable using conventional (Boolean, keyword and codes) approaches.

With Cipher you can also…

Gather competitor intelligence

Understand who’s doing what by automating patent to technology mapping.

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Model cross licensing

Combine patent and revenue data to determine rational licensing outcomes.

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Manage your budget

Justify patent budgets to CFOs and others to communicate the impact of your investment.

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Conduct due diligence

Automate manual reviews for efficient execution of M&A and licensing transactions.

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Tackle patent assertion

Be prepared with evidence to create a fast and effective threat assessment.

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Monetise your portfolio

Identify opportunities to create value through licensing or sale of patent assets.

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Optimise your Portfolio

Ensure you have the right portfolio to meet your strategic patenting objectives

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Why Cipher

Trained by humans, built by machine to give you independently verified accuracy

“Cipher’s classifiers enable you to understand the patent landscape or analyze a portfolio. Combining expertise in both IP and data science, Cipher provides you with solutions to the strategic problems patent owners face, with quick and accurate results.” Erik Oliver, Richardson Oliver Insights

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Improve your patent strategy now

Speak to one of our Cipher team today.