Identifying patent trends revolutionizes business strategy and innovation management.
Patents are crucial for protecting a company's technology and staying competitive. To evaluate patents effectively, researchers have looked at technological trends in patents, which show how technology is evolving. By analyzing these trends, they found features that can accurately measure the value and quality of patents. Testing their method on a dataset from the US Patent Office, they confirmed that these trends can help assess patent value better than traditional methods. This means that by focusing on technological trends, companies can improve how they evaluate patents and make smarter business decisions.