Posted by News Machine on Aug 25, 2014
President of Innography Tyron Stading shares the keys to the company’s success and the current state of patent litigation
By Amanda Ciccatelli
August 25, 2014
Today, patent litigation is a gigantic business as well as one of the most challenging areas for companies to navigate. And with litigation costs now reaching the millions, understanding the potential outcome of a case can save companies significant amounts of money.
One company, Innography, a patent analytics software provider, gives its clients better intellectual property (IP) answers for improved business results. Founded in 2007, Innography’s software suite combines unique correlation and visualization technologies to enable users to quickly gain insights for managing, extending and exploiting their patent portfolios.
I recently sat down with Tyron Stading, president at Innography, to discuss why Innography has become so successful and the current state of patent litigation.
Founded in 2007, the company’s solutions streamline and improve IP analysis to enable organizations to get products to market faster, uncover new revenue sources, keep track of competitors, preempt litigation claims and stay on top of IP-associated functions. Already in 2014, according to Stading, Innography has been named the winner of two content CODiE awards, including for Best Legal Information Solution, and was listed in the Open Data 500, a study of U.S.-based companies that leverage open government data. In fact, according to Stading, companies now require Innography experience on job postings because we are the gold standard in IPBI.
“Humans have a difficult time predicting which patents will be involved with litigation as only 2 to 3 percent of patents are ever litigated, but machine learning does a very good job to narrow the risk,” explained Stading.
So, Innography has developed a proprietary PatentStrength algorithm to predict which patents will be involved in future litigation, which takes the guessing out of risk management. PatentStrength has reduced the margin for error by 75 percent so companies can focus on the real threats both in the short and long term. This results in large savings in damages, attorney fees and licensing fees. “With foresight, companies can be more proactive to set up defensive strategies, avoiding litigation altogether,” he said.
These days, patents are valuable business assets in any company as patents provide a temporary monopoly to exclude others from selling a product in the market. According to Stading, for a business, this helps to protect market share and profit margin as they creates competitive barriers that help protect brands and a product’s future. But, because this is so valuable, patents should also be considered a financial asset, no different than a stock or a bond; they can be traded, licensed or leveraged for direct financial gain.
Stading explained, “Patents represent hundreds of billions of dollars of value, and companies that treat patents as a financial asset are at a significant advantage over companies that just keep them locked away in filing cabinets. For competitive intelligence, patents can provide direct insight into where competitors are headed strategically – and this information, in and of itself, may be more valuable than ever before.”
Additionally, Big Data is the key to unlocking this inherent value. Patent information is comprised of huge amounts of textual data structures involving terabytes of information. “When unlocked through Big Data techniques and analysis, the insights are compelling, revealing the direction a technology is headed and even uncovering the roadmap for a specific company’s product plans. But, deriving these insights from the proliferation of information requires truly sophisticated Big Data analysis,” said Stading.
Posted by Melissa Anthony Sinn on Aug 21, 2014
On any given day, I probably look at about a dozen media outlets: National CNN and Fox; the head stories on the regional broadcast; a review of the regional newspaper and business press; a click onto The New York Times; a few minutes in the car with the BBC on satellite radio; a jaunt onto The Wall Street Journal; a review of Time’s headlines; a look at Wired; a moment on the Daily Beast; a peek at PRWeek; and, if I’m on my game, a review of the Texas Tribune. This does not include the articles that are sent to me daily by my team or my Twitter feed of news that cover every manner of topic.
Posted by News Machine on Aug 20, 2014
By: John Rossheim
Are you looking to hire an IT project manager?
The role comprises a multitude of talents and aptitudes, which can make talent acquisition a challenge.
The following recruiting tips and information will help you identify the job skills needed for this position – as well as how to close the deal and retain your project manager, information technology.
IT Project Manager Credentials:
“It’s important to have some level of PMI or Six Sigma certification, the ability to play multiple roles, and experience in managing in a complex environment,” says Tom Becker, vice president of Recruiting for ManpowerGroup.
IT Project Manager Skills:
Here are some of the job skills to look for when recruiting an IT project manager:
- Specification and planning of software development projects
- Tracking of project progress, change management and risk management
- Testing and quality assurance
- Software life cycle management
“At a minimum a project manager needs to understand how website redesign works, and comprehend basic technical terminology as well as the big picture of how web development gets done,” says Leah Mason, director of operations at Four Kitchens, a web design and development firm.
Key Experience for Project Manager, Information Technology:
- Several years of project management experience, preferably in software development or IT infrastructure
- Significant experience facilitating communication among technologists and line-of-business managers
- Budgeting, cost control and risk management experience is desirable
“Project managers for IT need to being detail-oriented, super-organized, somewhat prescient — able to see around corners to anticipate issues — and they have to play nice with others,” says Jim Gibson of Gibson Consultants.
“We look for demonstrated experience in supporting multiple clients across industries, proficiency in office productivity programs, and passion and curiosity for the work we do,” says Mason.
Closing the Deal and Retaining Project Managers, Information Technology:
- The challenges of project management vary widely from one company or IT department to another; sell the match of the candidate’s aspirations with the company’s business and company culture
- Directly address a concern of many project managers: a dearth of upward mobility
“A lot of times candidates want to go into a smaller shop and wear many hats,” says John Sliger, recruiting director at Randstad Technologies.
“A candidate may be looking for a more entrepreneurial culture where decisions are made faster, where they can take leadership and have ownership,” says Becker. “The ability to influence and control is a draw for people coming from a bigger company.”
“We’re challenged in offering upward mobility, because we have only a few levels in our small organization,” says Mason. “But we find that people usually have a particular penchant for certain elements of their role – so it’s about enabling them to spend more time working on those elements. And we offer a professional-development stipend of $2,000 to $3,000 to support our employees’ interest in expanding their skill sets.”
Posted by News Machine on Aug 20, 2014
By: John Rossheim
Does your company have a need to hire an IT project manager?
Though an IT project manager isn’t upper management, recruiting for the position can often be a complex undertaking.
These IT recruiting tips on how to source and interview project managers, information technology, will help you find the talent you need.
How to Source IT Project Managers:
- Projects managers can be sourced through a variety of organizational affiliations
- Recent recipients of relevant certifications may be ready to change companies
“Most clients are asking for five years of experience in IT and project management,” says Jim Gibson of Gibson Consultants. “They may settle for something that’s close to that.”
“The stuff that turns up quality candidates is networking,” says Leah Mason, director of operations at Four Kitchens, a web design and development firm. “That means referrals from within, recommendations from peer firms, and our involvement in open-source development communities, from local meetups to internal forums and conferences on digital project management. We keep eye open for people who could be the right fit.”
How to Interview Project Managers, Information Technology:
These tips will help you prepare to conduct an interview:
- Ask the candidate to address complex hypothetical scenarios that involve technical, organizational and interpersonal challenges
- Candidates should meet with the full range of prospective colleagues: managers, peers and reports. Be sure your staff knows how to conduct an interview.
“Behavioral interview questions are extremely important for evaluating the candidate’s talents, both technical and nontechnical,” says Gibson. “You need to get to how the candidate thinks. Why do they want to do this job, take this career path? It’s important to under their skin.”
“We first do a phone screen, just to see that the candidate can connect with us via video chat and have intelligent conversation, and to check for any red flags,” says Mason. “Then one of our subject matter experts will have a much more in-depth conversation with candidates who pass the phone screen — an in-person interview if the person is local, to see how their levels of energy and excitement come through when we talk about what our company does.”