Despite the interruption created by the COVID-19 epidemic, patent submissions have been on the rise. In 2020, about 3.3 million patent applications were filed, an increase of 1.6 percent over the previous year. This vast patent database offers a once-in-a-lifetime opportunity to gain meaningful business insights. Patent mining is similar to data mining in that it is used to make sense of patent data. Patent mining is the process of extracting specific patents from a large database. To improve the portfolio's efficiency, it comprises identifying IP assets to licence, sell, abandon, or buy. Patent mining is done with business objectives in mind and can be done manually or automatically using cutting-edge software
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