Minneapolis patent attorney Mark Stignani describes important tools that an attorney uses for auditing a patent portfolio.
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The most important tools that I use for auditing a patent portfolio are I’ve got four of them. I start with an audit action sheet, which is something a little more than a spreadsheet, to gather together all information of the portfolio that I’m auditing, and this includes trademarks, copyrights, domain names, open source, et cetera. The second is a dashboard. The dashboard helps me visualize quantifiable actions from a portfolio. The third is a risk profile chart, so this is where I would go through and interview the owners of a portfolio and try to understand what they believe is risk and what sort of things they’re risk averse to. And then, finally, I bring all that together and we do a qualitative mapping of their patents in efforts to discover which patents have the most value for an outbound license in exercise, or most relevance to their product line, or are more likely to be ones we can let go.