Prepared exclusively for Crain’s Cleveland Business by Ocean Tomo, the Patent Power Index recognizes those companies in Norheast Ohio that are transforming the state’s innovation landscape. The full article and featured companies is available in the article “Stronger Ideas Start Here,” by Chuck Soder.
The index, which ranks the top 30 companies in the Cleveland-Akron-Canton area with three or more patents issued from 2010 through 2012 based on OTR™ Score, was performed using the Ocean Tomo Ratings™ (OTR) system, a proprietary system that calculates the relative quality of patents. The OTR Score objectively rates patents based on a proven statistical methodology. The OTR Score has a median of 100. Patents with higher OTR Scores are statistically more likely to generate economic returns. As a person’s credit score is used by banks and lenders to determine financial risk, a patent’s OTR Score is used by intellectual property professionals, investors and corporate strategic planners to assess quality. OTR Scores are unique to each patent and are updated monthly.
To coincide with this publication, we have published an expanded version of this Index. This version ranks companies in Ohio by their average OTR score over the last three years. The report also reveals each company’s OTR score by year from 2010, 2011 and 2012. With this additional information, you’ll be able to get further meaningful insight into each company’s patent portfolio’s growth and/or decline in recent years.