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WIREs Data Mining Knowl Discov
Impact Factor: 2.111

Harnessing the power of patent information to accelerate innovation

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Access to information drives innovation. Patents are a unique source of information containing not only legal but also technical, business, and potentially policy‐related information. Mining patents for information is an acquired skill that requires training and practice, familiarity with both legal and technical nomenclature and jargon, facile knowledge of the database used, and an appreciation of strategic approaches to efficient searching and information management. Once mastered patent information can facilitate the transformation of a resource‐based economy to a knowledge‐based economy. Essential to this process in developing countries is the active participation of the country in legal and technical transfer of innovations including patent searching to identify technologies of interest, patent owners, and the extent of patent rights (geographical and claims). © 2012 Wiley Periodicals, Inc.

Figure 1.

Access to information drives global access to new technologies. Patent information, part of a larger universe of information that includes scientific and business resources, is crucial for formulating informed strategic plans to accelerate access to innovation in the global market. Patent information can facilitate legal, business, policy, and scientific decision‐making. The importance of patent information continues to increase, with accelerating globalization of knowledge‐based economic development.

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Figure 2.

A standardized approach to patent searching. Patent searching is an iterative process, with built in redundancy to balance precision and recall to fine‐tune the searches and thereby maximize the integrity of the final data set. This involves continuous modification of searches as more information becomes available, with rechecking of keywords, patent classifications, inventors and assignees, and integrating new information into subsequent search strings.

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Application Areas > Data Mining Software Tools
Application Areas > Education and Learning
Fundamental Concepts of Data and Knowledge > Data Concepts
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