The Patent Power Index Ranks the Top 30 Companies in Northeast Ohio Based on OTR™ Score
Chicago, IL, December 19, 2013 – Ocean Tomo, LLC, the intellectual capital merchant banc™ firm, announced today the publishing of The Patent Power Index, exclusively in the December 16-22 Issue of Crain’s Cleveland Business, recognizing those companies in Northeast Ohio that are transforming the state’s innovation landscape.
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.
With an average OTR score of 173.3, Responsive Innovations, a provider of audience response technology, is Northeast Ohio’s top ranking company. All of Responsive Innovations’ patents belong to the USPC class 455: Telecommunication, which is the state’s 7th highest ranked technology class.
Top ranking companies, such as Arisdyne Systems Inc and Promerus LLC, hold patents in one of Cleveland’s top growing technologies USPC class 585: Chemistry of Hydrocarbon Compounds. This class has an average OTR score of 185 for 2012, which is a 62.6 point increase from 2010.
UPSC class 604: Surgery has the most patents of any technology class in Ohio with 329 patents issued. Companies such as OrthoHelix Surgical Designs Inc and Cleveland Medical Devices hold patents in this technology area.
The entire Patent Power Index is included in the article “Stronger Ideas Start Here,” by Chuck Soder. To coincide with this publication, Ocean Tomo has 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.
You can view this complete report featuring the Top 10 companies in Northeast Ohio by visiting oceantomo.com/patent-power-index. You can request an expanded version of the Index, featuring the Top 40 Companies, by sending an email Kristi Stathis at firstname.lastname@example.org.
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. creator of the live public open cry auction marketplace for intellectual property as well as the exclusive source for Ocean Tomo Ratings™.
About Ocean Tomo Ratings™ System
The Ocean Tomo Ratings™ system is the most advanced web-based patent data, rating and analysis platform designed for objectively assessing patent quality, relevant patents and technologies, competition, and competitive trends. The market trusted system is used by major global corporations among the top 100 IP holders. From individual patents and patent portfolios, to technology sectors and companies, the Ocean Tomo Ratings system provides unparalleled strategic insight and analysis.
Built upon patented methodologies (U.S. Patent No. 6,556,992 and 7,716,226) derived from assessing the entire universe of U.S. issued patents, with over 50 discrete patent attributes trusted by market participants, the Ocean Tomo Ratings system shows interrelationships among all U.S. patents with a numerical relevance score.
No other analysis and research tool combines patent quality metrics with other competitive portfolio assessment on a single accessible platform. The Ocean Tomo Ratings system is offered as a subscription or though individual reports.
About the OTR™ Score
The OTR score is an objective and statistically valid assessment of the quality of individual patents, and collectively patent portfolios. OTR scores are driven by actual market observation of which patents are maintained for their full term.
The OTR score can be compared to other quantitative metrics such as an IQ score for rating human intelligence or a FICO score to measure individual credit worthiness. The median OTR score is 100. And just as a credit score is used by lenders as a starting point to determine financial risk, OTR scores are used by intellectual property professionals, investors and corporate strategic planners as a starting point to assess patent quality.