Implementation of Dice coefficient to identify target for IP asset licensing

Abstract

Licensing has proven to be most preferred way to recoup investments and make money out of business of inventing. The most crucial step of licensing process is picking the right company to license the invention. The present study relates to an analytical method that can be used by client organisation having single/set of patent(s) to identify target organisations that might be interested in licensing said patents. For this, the article uses Dice coefficient calculation using IPC as vector. More specifically, this method calculates Dice coefficient between client IPCs and target organisation IPCs to identify similarity and differences between their patent portfolios of a subject area. The ideal licensing deal can be made between those who have more in common or similarity per se. The method combines the significance of both similarity analysis and citation analysis for identifying licensing targets by overcoming some of the weaknesses inherent with citation analysis.