Home > IP Solutions > Quality Patent Data Businesswoman reviewing project on computer monitor at workstation in office Get Reliable Analyses Through Accurate and Up-to-Date Patent Data Overcome the challenges of patent data quality with LexisNexis® Intellectual Property Solutions. LEARN MORE The challenges of patent data quality Patent data is publicly available and can be sourced from patent offices worldwide, but the quality of raw data is often insufficient. Incomplete ownership information Patents do not necessarily state the entity ultimately controlling them. They might be filed under various names such as subsidiaries or inventors, making it difficult to create a holistic company profile. Ambiguous legal status information Patents usually have a lifetime of 20 years, yet may go inactive well before then for reasons such as invalidation or lack of fee payments. Incorrect translations and misspellings More often than many realize, official records include misspellings of assignees and errors from the translation process. How LexisNexis Intellectual Property Solutions ensures data quality Our data harmonization team is a skilled group of experts focused entirely on data quality. Their combined process of automated checks followed by manual quality control ensures highly accurate and reliable results. The team is multi-lingual, enabling us to achieve data quality in patents filed in many languages, including English, Chinese, French, German, Japanese, Korean and Russian. watch the video What is being harmonized? Current accurate corporate structures We assign subsidiaries to their group HQ, so every patent is listed under the business that is ultimately controlling it. Historical company name changes The applicant name recorded by the patent office may not exist anymore, so patents registered under an older name are assigned to the actual owner. Mergers & acquisitions As part of ongoing M&A monitoring, patents are promptly assigned to the correct ultimate owner. Patent transactions The buying and selling of individual patents are tracked and assigned to the company that ultimately buys them. Misspellings More often than many realize, official records include misspellings of assignees. These are corrected to avoid the incorrect assignment of a patent. Recognition of homonyms Same names are used by multiple distinct companies and universities. A Handbook for Patent Data Quality Learn how LexisNexis® PatentSight+® uses a unique and industry trusted approach toward ensuring consistent high data quality. Read Data Quality Paper Which companies are pioneering the future of science and technology? Download Innovation Momentum 2023: The Global Top 100 to find out! Using our proprietary patent quality metrics to look at the global patent landscape we list out the Top 100 innovators worldwide. Read the full report to discover which companies are at the forefront of innovation, driving future technologies. see the top 100 You’re just a click away from unlocking the true value of your portfolio Learn how to profit from sound patent analysis. Learn how LexisNexis Intellectual Property Solutions helps you overcome the challenges of patent data quality. Submit the form, and we’ll be in touch. More Resources 5 Consequences of Patent Data Errors: The Applicant Name FieldPatent data quality is crucial for ensuring reliable analytics. In this blogpost we discuss five consequences of patent data errors.Read more Data and Decisions: The Risks in Relying on Inaccurate Patent DataIf organizations base critical business decisions on inaccurate patent data, they may experience negative business results.Read more Do This, Not That: Tips for More Efficient Patent SearchesAs patent search tools evolve, patent professionals must continue to understand the available tools to conduct efficient patent searches.Read more 6 Common Patent Data Errors and How They Affect Your DecisionsWe explored the impact of common patent data errors in one of the most problematic fields for patent data: the applicant name field. Read more
