Prepared exclusively for Crain’s Detroit Business by Ocean Tomo, the Michigan Innovation Index recognizes those companies that are transforming the state’s innovation landscape. The full article and complete list of 2012 featured companies is available here.
The study, which ranks the top 100 companies with three or more patents issued in 2012 based on their 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. In this version, we include each company’s OTR Scores from 2010 and 2011 along with their 2012 ranking. 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.
Next week we will be sharing some interesting insight regarding patenting in Michigan within certain United States Patent Classes (USPC). In this portion of the report we will share how Michigan patents issued in 2012 compared to the over-all average of OTR scores by USPC nationally. You’ll see where Michigan is surpassing the national average for relative patent quality within certain patent classifications and where, perhaps, there is some room for improvement.