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Patent Evaluation Based on Technological Trajectory Revealed in Relevant Prior Patents

  • Sooyoung Oh
  • Zhen Lei
  • Wang-Chien Lee
  • John Yen
Part of the Lecture Notes in Computer Science book series (LNCS, volume 8443)

Abstract

It is a challenging task for firms to assess the importance of a patent and identify valuable patents as early as possible. Counting the number of citations received is a widely used method to assess the value of a patent. However, recently granted patents have few citations received, which makes the use of citation counts infeasible. In this paper, we propose a novel idea to evaluate the value of new or recently granted patents using recommended relevant prior patents. Our approach is to exploit trends in temporal patterns of relevant prior patents, which are highly related to patent values. We evaluate the proposed approach using two patent value evaluation tasks with a large-scale collection of U.S. patents. Experimental results show that the models created based on our idea significantly enhance those using the baseline features or patent backward citations.

Keywords

patent evaluation ranking 

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Copyright information

© Springer International Publishing Switzerland 2014

Authors and Affiliations

  • Sooyoung Oh
    • 1
  • Zhen Lei
    • 2
  • Wang-Chien Lee
    • 1
  • John Yen
    • 3
  1. 1.Department of Computer Science and EngineeringThe Pennsylvania State UniversityUniversity ParkUSA
  2. 2.Department of Energy and Mineral EngineeringThe Pennsylvania State UniversityUniversity ParkUSA
  3. 3.College of Information Sciences and TechnologyThe Pennsylvania State UniversityUniversity ParkUSA

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