On July 1, it was announced that Reed Technology made an agreement to acquire PatentCore, developer of the LexisNexis PatentAdvisor solution suite. PatentAdvisor adds to Reed Tech’s intellectual property (IP) services which also include LexisNexis TotalPatent, LexisNexis PatentOptimizer, LexisNexis Ip DataDirect, and other IP services.
This new service creates an effective and efficient way to handle patent prosecution for IP-driven companies and law firms. This online tool contains large data sets and analytics, giving companies access to search U.S. Patent and Trademark Office (USPTO) information and make better strategic decisions.
Samuel Hardman, President of Reed Tech, states, “Our relationship with PatentCore has helped us integrate more dynamic patent analytics capabilities into a strong base of IP products and services available through LexisNexis. PatentAdvisor offers highly valuable analytical and statistical insights on patent prosecution and portfolio management that are unique in the marketplace."
While the cost of acquiring a patent can vary due to a number of factors that influence the way individual patents are treated within the USPTO, PatentAdvisor provides a way of understanding the cost of patent prosecution. Moreover, PatentAdvisor can help law firms understand how individual patent examiners and art units responded to previous applications and can help evaluate historical patterns to better plan future strategies.
The CEO and co-creator of PatentCore, Christopher Holt, now joins as Vice President of Reed Tech’s LexisNexis PatentAdvisor. He states, “"I'm very excited to be joining LexisNexis and Reed Tech to better serve the needs of the intellectual property market. Together, we will accelerate the innovations and develop solutions that use predictable statistical insight to reduce blind spots for IP professionals."