Tools for Search, Analysis and Management of Patent Portfolios

Patents have been acknowledged worldwide as rich sources of information for technology forecasting,competitive analysis and management of patent portfolios. Because of the high potential of patents as animportant indicator of various technology measurements and as econometric measure, patent analysis hasbecome vital for corporate world and of interest to academic research. Retrieving relevant prior art, concerningthe technology of interest, has been vital for managers and consultants dealing with intellectual propertyrights. Tremendous progress in the field of electronic search tools as of late has led to a specialised and lesstime consuming search capabilities even in the fields where search is mostly based on formulas, drawingsand flowcharts. Online patent databases and various other analytical tools have given patent analysis animportant edge, which otherwise required extensive and time consuming data collection and calculations.Patents provide valuable information which could be used for various purposes by industry, academia, andpolicy analysts. This article explores the various options and tools available for patent search, analysis andmanagement of patent portfolios, for efficiently identifying the relevant prior art, managing their own patentclusters and/or competitive intelligence.