By IPIQ Acquisition LLC
In 2008 we introduced the Law Firm Patent Scorecard™ in response to an article on "How Law Firms Could Benefit from Patent Analytics", which started with the simple question "Why Use Patent Analytics?" The article garnered much interest and discussion on the topic and we heard over and over from readers who needed a way to understand the strengths and weaknesses of specific law firms' representation abilities. Building on indicators used in IpIQ Acquisition's seventeen industry Patent Scorecards, we developed the Law Firm Patent Scorecard™ in order to provide a ranking of law firms that used Patent Analytics and combined qualitative and quantitative analyses.
Both prosecuting law firms and their prospective or existing clients can use Patent Analytics to quantify and qualify the IP assets that a law firm prosecutes. As patent attorneys move from their previously exclusive legal role of prosecuting and litigating patents into an expanding role of Intellectual Property business consultants, they must increase their IP sophistication to match growing client needs. Bibliometric tools that quantify and qualify patent assets are a vital aspect of providing IP value. Law Firms can use Patent Analytics to determine their own firms' representation abilities, including in-house division audits, as well as assess their patent representation against other firms. Similarly, potential or current client...
