Clarivate Analytics invests in Derwent's future, adding new predictive data sets
PHILADELPHIA, May 23, 2017 /PRNewswire/ -- Yesterday at the Patent Information Users Group (PIUG) Annual meeting in Atlanta, Clarivate Analytics revealed that the new name for its search and analytics platform, Thomson Innovation, will be Derwent Innovation. The name change supports the company's broader patent and IP commitment and its expertise in driving innovation, while paying homage to Derwent's 50-year + heritage of analyzing quality patent information.
For over 50 years Derwent has been the leader in patent-smart technology, content and applications. The new name reflects the Derwent World Patents Index heritage of accurate, precisely-indexed and enhanced patent data.
"With Derwent Innovation, Clarivate Analytics continues to provide trusted patent data and best-in-class technology like Smart Search to help our customers power the innovation lifecycle, from idea to commercialization," said Dan Videtto, president of the Clarivate Analytics IP & Standards business.
As a newly-independent company, Clarivate Analytics is accelerating investment in technology, analytics and content, enabling agility in customer problem-solving. Derwent Innovation is no exception. As part of the July 2017 release of Derwent Innovation, the company is releasing accurate legal status (e.g. dead / alive status, expiration date) and ownership across millions of patents by applying innovative artificial intelligence to Derwent's enhanced patent data.
Consider that the average patent is thought to be in effect for 20 years, when factoring in term extensions being issued at a rate of 54%, the difficulty of determining a patent's status increases dramatically. Additional variables can further complicate the process. Derwent Innovation's latest features make it easier to determine if a patent is still in force and when it will expire.
"Accurate legal status and ownership data is critical to inform freedom to operate opinions, validate in-licensing and/or M&A opportunities or accurately evaluate IP portfolios," said Jason Resnick, Segment Lead–Innovation at Clarivate. "Our predictive data is unique because we make the inputs used to calculate the data more transparent, so customers have visibility into the methodology and confidence in the results."
The new name is effective immediately, and will be implemented across the company's products and services throughout this calendar year and into 2018.
Clarivate™ Analytics accelerates the pace of innovation by providing trusted insights and analytics to customers around the world, enabling them to discover, protect and commercialize new ideas faster. Formerly the Intellectual Property and Science business of Thomson Reuters, we own and operate a collection of leading subscription-based businesses focused on scientific and academic research, patent analytics and regulatory standards, pharmaceutical and biotech intelligence, trademark protection, domain brand protection and intellectual property management. Clarivate™ Analytics is now an independent company with over 4,000 employees, operating in more than 100 countries and owns well‐known brands that include Web of Science™, Cortellis™, Derwent, CompuMark™, MarkMonitor® and Techstreet™, among others. For more information, please visit clarivate.com.