Ratings are widely used while evaluating patents and portfolios, despite there being differing views on what constitutes an ideal rating. Suffice to say that ratings are context-driven and should incorporate factors that are most relevant to the given context. Additionally, each of the factors considered, should be appropriately weighted to reflect their relative importance.
Relecura has introduced a Custom Formula Builder enabling users to formulate their own custom ratings for use in their analyses. This addresses the long-standing need in IP analysis tools to provide a flexible way for users to formulate ratings, as an alternative to black-box proprietary ones. Relecura users may now formulate custom ratings specific to their context and apply them in analyses related to valuation, risk assessment and the like.
Relecura’s Custom Formula Builder enables the formulation of custom ratings, providing for,
- A list of patent parameters (variables) for individual patents including,
1. Single-valued variables like citation counts, claim counts, and the number of family members.
2. Multi-valued variables specified using look-up tables.
- Functions and operators to combine the above variables.
Individual rating components pertaining to specific factors (e.g. effect of the number of forward citations or the geographical spread of family members) are first specified using a combination of the above variables along with their weights. These are then combined to give the overall custom rating for each patent.
To help the user get started, some pre-specified components are directly available that can be combined to construct a custom rating. Apart from these, the user may create custom components of their own. Once created, ratings formulae can be saved and reused in future analyses. The calculated values of the custom ratings for the portfolio patents may be exported as well.
Click here to know more about how Custom Ratings work in Relecura.
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The Relecura Team