Expandiverse Technology has received over 500 patent citations on its first patent application and issued patent. This happened quickly — it’s just months since the first Expandiverse patent was granted.
Tomorrow’s Digital Earth is arriving quickly. These citations are from companies that are turning parts of it into their property.
Patent citations are similar to academic paper citations, except these are required and not voluntary. Previous patents are cited by both patent applicants and by patent examiners who search to see if an invention was patented before. This produces a “patent citation network” that is useful for several kinds of research:
- Backward: See the flow of invention and new knowledge while it is being created.
- Forward: Discover which inventions and technologies will be valuable 5 and 10 years from today.
- In the present: See if your company has the “freedom to operate” in each business area.
Other patents’ usual number of citations: Think small
The normal numbers of patent citations were reported in a research study of millions of U.S. patents. According to “Market Value and Patent Citations,” published in the Rand Journal of Economics:
- The average patent receives just 3 citations during its lifetime
- Only a few dozen pareceive 100 citations
- Just four patents received more than 200 citations
- Firms with 20 citations and more “command a staggering 54% market value premium”
This inventor’s usual number of citations: Think big
Over 500 companies have licensed Dan Abelow’s previous patents. Over 2,200 patent citations have been received by Abelow’s body of patents and patent applications. His previous patents were sold as an “IP Portfolio” in 2004. Those patents and citations include: (details available on request)
- Personalized data communications during product use — Over 200 companies licensed one or more of these patents: This includes a “patent family” with four patents. The core patent has over 700 citations, and others have up several hundred citations.
- Data content and accessibility — Over 350 companies licensed this patent: This patent has over 200 citations.
Now, Expandiverse Technology’s first patent has been cited over 500 times — within months after it issued.
The most fun example? Bill Gates is still filing patents — and eight of Bill Gate’s new patents cite Expandiverse Technology.
Find the best patents for your company’s digital future
The ROL Group is a patent law firm that uses quantitative research to determine the primary factors for identifying whether a patent is most useful or least useful. Its findings determined that the primary factor for identifying the most useful patents is the largest numbers of patent citations.
In “Finding the Best Patents – Forward Citation Analysis Still Wins,“ they explained why this has business value:
“We believe that forward citations are a proxy for industry-wide R&D investment in a technology area. With more investment, there are generally more products. With more products, there is a higher chance of infringement. Infringement drives value and most likely meets a client’s needs. Specifically, a purchase either eliminates the client’s own infringement or provides a tool to use against someone else.”
Their data correlated patent citations with both business and legal decisions:
“The results were striking; the sold… patents had exponentially more forward citations… there was evidence of significantly higher forward citations in the set of litigated patents.”
Plan your company’s future technology: Think Digital Transformation
How can you accurately forecast your company’s future technology and IP needs? Two quantitative processes have been developed based on the patent citation network.
In “Prediction of Emerging Technologies Based on Analysis of the U.S. Patent Citation Network,” published in the quantitative journal Scientometrics, the authors said:
“We present a conceptual framework and a computational algorithm for studying the process of technological evolution and making predictions about it by mining the patent citation network… Our methodology seeks to detect incipient technological trends reflected in the citation network and thus to predict their emergence.”
“The clustering technique adopted is able to detect the new emerging recombinations, and predicts emerging new technology clusters.” (emphasis added)
When the 500+ patent citations received by the Expandiverse are clustered, four major clusters emerge:
In “Quantitative Determination of Technological Improvement from Patent Data,” MIT’s Benson and Magee add a new method for using patent citation data to estimate a technology’s future rate of improvement, and its potential for investment.
As Oxford University’s Doyne Farmer says,
“[The group’s] methods should be useful to any organization that is considering investments in technology, in particular government funding agencies such as the [U.S. Department of Energy] that fund engineering applications; venture-capital firms; or firms that are actually in the technology business,”
The Expandiverse has developed five Roadmaps for a Global Digital Transformation of major industries and the economy. The Supply Chain Roadmap is an example of leading Supply Chain companies that cite Expandiverse Technology:
To see the largest single source of Expandiverse patent citations: Go to this web page on Google Patents At the top right, click “Cited by”:
Image credits: Dan Abelow. All logos and trademarks are owned by their respective owners.