ktMINE Case Study: A Fortune 500 Pharmaceutical Company
A Fortune 500 Pharmaceutical Company known for using science-based innovation to contrive breakthrough treatments, turned to ktMINE to assist in uncovering research on expected and reasonable royalty rates.
The head of patent research at a Fortune 500 pharmaceutical company approached the ktMINE Customer Success team with a time-sensitive research query. The company needed to know what rate could be charged for the know-how associated with a patent, post expiration of the patent, a question that would require a customized search strategy.
Unfamiliar with how to go about identifying this royalty rate information ― and uncertain if the data even existed at all ― the company required hands-on assistance with analysis from ktMINE to uncover answers and provide relevant insights.
The company had several key requirements. Data in response to their specific request needed to come from payments within agreement documents that accounted for royalty rates both pre- and post-expiration of patent(s), in cases where only the know-how was compensated for.
A complete solution would also include specific examples to support the company’s conclusions and enhance their internal deliverable.
In response to the problem, ktMINE Data Analysts initiated carefully tailored searches, flagged important data points, and collated extensive notation of results and supporting documentation.
The pharmaceutical company worked closely with the ktMINE’s Customer Success and Data & Technology team throughout the search process. By utilizing ktMINE’s uniquely efficient combination of technology-driven data services guided by human expertise, the client was able to identify the exact answers required.
As a result of working in conjunction with this client and carefully considering the motivations behind their requests, the ktMINE Data & Technology team compiled a list of potential additions to current product offerings. New search efficiencies have since been developed and added into the Royalty Rate Finder application, which will help the entirety of ktMINE users uncover answers through new search filters.