CHICAGO, IL, May 5, 2013. – Ocean Tomo, the Intellectual Capital Merchant Banc™ firm, today released the results of the Ocean Tomo USPC Patent Quality Benchmark Study, an annual study analyzing patent quality among the US Patent Classes.
“The US patent footprint is ever changing, a reflection of the latest and highest value innovations. Our comprehensive review of patent issuance provides unique insight into these trends,” reported James E. Malackowski, the firm's Chairman and Chief Executive Officer.
The Ocean Tomo USPC Patent Quality Benchmark Study provides a meaningful benchmark for those studying patent quality among the 437 United States Patent Classes (USPC) as defined by the United States Patent and Trademark Office (USPTO). According to Mr. Malackowski, “Ocean Tomo clients rely on patent class analysis for long range planning and competitive insight.”
The study reflects Surgery: light, thermal and electric application, (class 607) as the number one technology class for patent quality, with the highest average OTR™ score of 126.2.
Of particular note in the 2012 USPC Patent Quality Benchmark Study, is the dramatic increase in quality of patenting within the cross reference class, 902, Electronic Funds Transfer. With an average OTR Score over the last five years of 100.3, the OTR Score in 2012 increased to 121.0. Adding further interest to this class’ dramatic increase in patent quality are the Cummins-Allison Corporation patents, with an average OTR Score more than 20 points above the class average.
Ocean Tomo takes care to watch trends in class 705, Financial Services and Related Business Methods, given its own business activity. In early 2013, Ocean Tomo’s first patent issued related to our Patent Royalty Trust™ product for intellectual property risk management. Class 705 is also among the top 30 USPC classes ranked by OTR score in 2012 with scores remaining relatively constant for the past six years.
According to the Ocean Tomo USPC Patent Quality Benchmark Study, available in full at OceanTomo.com, the top 10 classes are:
1 Surgery: light, thermal, and electrical application (#607)
2 Static information storage and retrieval (#365)
3 Prosthesis (i.e., artificial body members), parts thereof, or aids and accessories therefor (#623)
4 Surgery (#606)
5 Semiconductor device manufacturing: process (#438)
6 Needle and pin making (#163)
7 Electronic funds transfer (#902,cross reference class)
8 Electronic digital logic circuitry (#326)
9 Earth boring, well treating, and oil field chemistry (#507)
10 Data processing: software development, installation, and management (#717)
Mr. Malackowski adds, “The top 8 technology classes, having an average OTR score above 120, puts each among the top 24% of all rated patents.”
Ocean Tomo Ratings OTR scores objectively rate patent assets based on a proven statistical methodology, with a median score being 100. The Ocean Tomo Ratings™ system is the first market-validated system for objectively assessing patent quality and competitive trends for patents, patent portfolios, companies, and technology sectors. The Ocean Tomo Ratings system uses a patented method of patent quality assessment, (USP 6,556,992 7,657,476 and 7,716,226 ) that is statistically based calculating the relative quality of patents issued by the USPTO since 1976 using more than 50 independent and objective factors.
About Ocean Tomo, LLC
Established in 2003, Ocean Tomo, LLC, is the Intellectual Capital Merchant Banc™ firm providing an industry leading array of financial products and services related to intangible assets. Ocean Tomo offerings include expert testimony, valuation, strategy, research, ratings, investments, risk management and transactions. Ocean Tomo assists clients – corporations, law firms, governments and institutional investors – in realizing Intellectual Capital Equity® value broadly defined.
Headquartered in Chicago, Ocean Tomo has offices in Greenwich, Houston and San Francisco.
Subsidiaries of Ocean Tomo include: Ocean Tomo Risk Management, LLC; Ocean Tomo Asset Management, LLC; OTI Data Networks, LLC; Patent Marking, LLC; and Ocean Tomo Capital, LLC – publisher of the Ocean Tomo 300® Patent Index family. Ocean Tomo is the founder of the Intellectual Property Exchange International (IPXI), Inc. as well as the exclusive licensee and distributor of the PatentRatings® system.
About the Ocean Tomo Ratings® System
The Ocean Tomo Ratings™ system is the first proven, market-validated system or objectively assessing patent quality and competitive trends for patents, patent portfolios, companies, and technology sectors. The system provides customizable data solutions and delivers actionable data to companies, investors, bankers, attorneys and other intellectual property professionals and decision makers. Ocean Tomo Ratings system provides an unparalleled understanding of patent quality, technology implications, and strategic insight. Visit OceanTomo.com/Ratings for more information about data subscriptions or individual reports.