Win New Business with the PatentAdvisor Efficiency Score™
Patent data and analytics now play an important role in helping law firms win new business. Firms can now quantify their performance against the patent office using USPTO patent data, and highlight their most favorable patent metrics to earn a prospective clients trust. However, law firms should keep in mind when making claims to prospective clients that USPTO patent statistics can be misleading and sometimes fail to show which law firm is truly better. If Law Firm A touts its effectiveness with an 88% USPTO allowance rate, and Law Firm B touts its efficiency because it averages only one office action per patent application, which law firm is “better” than the other? Most clients would agree that the best law firms are both effective and efficient, but patent statistics without context fail to paint a clear picture of either of those characteristics.
Instead of relying solely on patent statistics as testaments to a law firm’s effectiveness and efficiency, prospective clients should also consider the fact that one law firm may have frequently faced patent examiners who are much more difficult than those faced by another law firm. After all, there is great variability among USPTO patent examiners—half of all patents are granted by a group of patent examiners making up only 10% of the USPTO examiner pool; and another group of patent examiners making up around 20% of the examiner pool can be credited with less than 1% of patent applications filed with the USPTO each year. For this reason, it may be the case that some law firms with less than ideal patent statistics may have been both effective and efficient in prosecuting their patent applications, but this is only apparent once the difficulty of their assigned USPTO patent examiners is taken into account. Likewise, the opposite may be true for a law firm that achieved a high patent allowance rate by facing more applicant-friendly patent examiners. Law firm patent statistics are relative to a firm’s circumstances against the USPTO, which is why they offer little proof that one firm is superior to another.
The Advanced Patent Metric That Helps Win New Business
A more sophisticated patent metric is needed to appropriately compare one law firm to another—one that takes into account the circumstances surrounding a law firm’s success or failure as suggested by its USPTO patent statistics. Fortunately, LexisNexis® IP now offers a solution with the PatentAdvisor Efficiency Score™. Available through the LexisNexis PatentAdvisor® patent prosecution platform, a law firm’s Efficiency Score™ is a more accurate representation of the law firm’s effectiveness and efficiency at the USPTO because it has been normalized for both the difficulty of the patent examiners faced by a law firm and the total number of applications they have prosecuted. Law firm PatentAdvisor users can easily generate PatentAdvisor Benchmarking Reports™ based on Efficiency Scores that illustrate how the law firm’s performance stacks up against others. In other words, law firms now have more reliable proof that they are better than the rest, and can leverage their Efficiency Score to win new business.
To learn more about using the PatentAdvisor Efficiency Score to distinguish your law firm and to win new business, be sure to watch our webinar—“How to Objectively Measure Prosecution Performance with PatentAdvisor Benchmarking Reports™.”
LexisNexis PatentAdvisor® allows you to easily, and with more accuracy than ever, predict your assigned examiner’s behavior through detailed patent analysis so that you know how to adjust your prosecution strategy accordingly.
With your free trial, you will gain instant access to:
Examiner Search allows you to search by examiner name for a filterable, examiner specific dashboard of patent analytics, including rejection specific statistics, appeal statistics, prosecution statistics, interview statistics, a backlog of RCEs and timeline.
QuickPair easily replaces the USPTO Public PAIR by providing the most robust application details anywhere, including examiner timeline, examiner allowance rate and the average time and number of office actions to allowance.
PatentAdvisor, the first-ever data-driven patent strategy tool, provides a systemic approach to crafting an effective prosecution strategy. Understand why certain patent applications take longer than others to reach allowance—then use that knowledge to devise better patent prosecution strategies.