The Badge system is the heart and soul of Patent Rank. It is how we establish value in a way that means something to you. By implementing a Badge system, we take all of the complicated aspects of Patent Rank and display them in a form that anyone can understand and use. Using out patented methodology, we evaluate individual patents based on several criteria, compute their value, and deliver a Patent Rank Badge. This Badge is the ultimate indication of intrinsic value and actionable patent intelligence. With the Patent Rank Badge, the possibilities for moving forward with your innovations are endless. The system itself is extensive, but in the most basic sense, it gives you a measure of value that provides actionable patent intelligence.
Patent Rank: Taking the FICO score and applying it to patents
All of our badges consist of the same elements; however, we utilize different badges for each measure of valuation we calculate. Our badges include the comprehensive badge, technology badge, year badge, and the technology-year badge. Each of these four badges also consists of two types of badges: cumulative and marginal. In order to explain this further, let’s use an example.
Tiger Woods and Cumulative vs. Marginal Scores
Tiger Woods is arguably one of the greatest golfers of all time. He has won multiple tour championships and remains a top competitor in the PGA. If we were to look at Tiger’s cumulative badge score on a scale of 1-99, it is likely he’d be somewhere in the 90-99 range. His 5 tour championship wins and cumulative success throughout his career solidifies that. On the other side of things, if we were to look at Tiger’s marginal badge score on a scale of 1-99, it would probably be closer to 75. Unlike the cumulative score, the marginal score takes into account only Tiger’s most recent history. Although Tiger is an incredibly accomplished golfer, he has not won a tour championship since 2008, hence why his marginal score is lower than his cumulative score.
Having multiple badges allows us to utilize the comprehensive nature of our Patent Rank methodology and give you several measures of value that you can act upon. For an in-depth explanation of each badge, click here. In addition to the multiple badges, any given user will see different elements of the badges based upon their subscription level. Subscription options range from simple visitors all the way to paid subscribers with each option displaying different badges and elements. Essentially, the more you sign up for, the more you get!
In order to get a better idea of what exactly each badge consists of, we have diagrammed the basic elements below. For an in-depth explanation of the badge, click here.
The Value component is the initial and most basic indication of value for a patent. It follows a 5 star system with 0 stars indicating no value and 5 stars indicating significant value.
The Type component categorizes the patent based on its technology classification (letters) as well as its overall classification (numbers).
The Date Issued component displays the year that the patent was granted by the USPTO.
The Patent Rank component is the ultimate indication of patent valuation. Using our patented methodology, we take into account all of the necessary aspects of a patent and calculate its value on a scale of 1-99; 1 indicating no value and 99 indicating significant value.