EconSight’s combination of an expert-defined comprehensive technology taxonomy, ready-to-use patent collections, and business relevance-based quality assessment can be used to precisely measure and position each relevant player in a technology sector. In addition, proprietary NLP and machine learning algorithms are trained on the comprehensive taxonomy to further subdivide each field into hundreds of technology segments to correctly identify and measure each relevant sub-concept in its technology environment.
EconSight can identify and assess the degree of conceptual proximity of players based on the text of their published patents, and identifies any new or old potential competitor or even matching players for strategic investment. EconSight’s 3D cluster analysis identifies the most dynamic, smallest and attractive technology segments to find the starting point for the most efficient IP strategy. Innovative designs or raw patent applications can later be evaluated for uniqueness, grant probability or predictive quality ratings and projected into an existing patent landscape as if they were already published, all based on text and only in the relevant technological segments. Highly likely inventions in promising technology segments can be identified and prioritized, turning IP costs into profits.