A private company has partnered with Adapt IP Ventures to monetize its patent portfolio which has broad applicability across diverse “big data” platforms.
By leveraging a knowledgebase which intelligently pulls information across social media, government, academic and human capital resources, the portfolio vastly improves data discovery processes via higher accuracy and speed.
Grant Moss, founder of Adapt IP Ventures, highlights the underlying problems with big data systems today. “With so much information that purports to be true online and offline, no one really knows what is true, what is false, what is under-represented, what is mis-represented. These are the issues that plague online daters, corporate recruiters, online shoppers, venture capital firms, and many other groups which require the inspection and verification of data during the discovery process of individuals or groups.”
With a priority year of 2000, the patent portfolio, consisting of 5 issued U.S. patents and 2 pending U.S. patent applications, contains key claims which discuss how this verification information is gathered and how it is outputted. Claims range from the iterative intelligence gathering process from primary and secondary sources to the automatic scoring/ranking of the examined entities of interest.
There are more than 60 patent citations to this portfolio, including Yahoo, AT&T, Visa, Intellectual Ventures, IBM and Microsoft.
The portfolio’s value has risen with the rapid adoption of personal and professional social media networks. Brian Bochicco, vice president of Adapt IP Ventures, said, “Take Yelp or Google. Both platforms allow users to write reviews of local businesses and to offer up corresponding numerical ratings of their experiences, the latter of which is aggregated into a static, searchable ranking.”
“The present patent portfolio would provide higher resolution towards identifying the veracity of a ranking by iteratively digging through additional sources,” explained Bochicco. “For instance, by drawing from social networks, this online ‘matching’ system could confirm that reviewers actually dined there (e.g., through FourSquare), that the reviewers themselves do not actually work there or, alternatively, work for a competing business (e.g., through LinkedIn). This patent portfolio’s knowledgebase could further refine the quality of the ratings by drawing from the Better Business Bureau or from inspection and compliance agencies. Without such systems in place, ‘bogus’ reviews will continually hamper the reliability and efficiency of rating systems today.”
“Adapt IP Ventures provides strategic advisory services designed to assist innovative firms to understand and extract value from their intellectual property,” says Adapt IP Ventures on its own Web site.
“By serving as a patent broker for our clients, Adapt IP Ventures develops custom strategies to sell or license patents. Adapt IP Ventures delivers expert advice and outstanding execution by leveraging a highly-experienced team of patent monetization professionals, industry experts and state-of-the-art research tools.”
Companies interested in obtaining more information about the knowledgebase, data discovery patent portfolio should contact Grant Moss of Adapt IP Ventures by email at email@example.com.