“Hi! My name is Frida Femling and I am enrolled in the Venture Creation Track. This week I would like to share with you my summer as an intern at Richardson Oliver Insights. This is a data driven firm based in Silicon Valley. They help enable patent transactions and the patent market by providing reliable, comprehensive data-driven solutions to patent buyers, sellers and decision makers. A key element of these services is helping participants find the most valuable patents. How they do this? I’ll explain:
They use a patent ranking system they developed in-house, established 2015. The ranking system is built on a couple of metrics functioning as value indicators for patents. An example of a metric commonly used when ranking patents is the number of forward references from later patents. If a patent has a greater number of forward references compared to similar patents within the same technology field, that patent is likely to be of higher importance. My main task this summer was to develop this ranking system further by validating or invalidating the metrics for the existing ranking system and finding additional potential metrics to implement to improve the ranking system. This project included collecting data, sorting it, extracting the key data, visualizing it through Python and developing the updated ranking algorithms.
During this summer I realized how important the Intellectual Property Strategies course I took was. I worked with patents for 2,5 months on this project and the knowledge I needed about intellectual property that I had gained from the course was invaluable.
But, enough of IP! On top of patents, programming and math, I did a lot of other things. I climbed mountains in Yosemite, visited Facebook's headquarters, cruised down Highway 1, celebrated 4th of July, tried freshly baked donuts, hiked in Muir Woods and explored San Francisco (almost every weekend). The Bay Area is amazing and I can definitely recommend applying for an internship here. I had the opportunity to combine IP with programming, data analysis, math and statistics with the most talented patent crew in Silicon Valley. And I want to take the opportunity to encourage you all to be brave and apply for an internship even though you might believe you don’t have all the qualifications. The willingness to learn and a positive mindset is the way to get there.”