A statistical score for a granted patent is calculated by comparing the statistical parameters of the subject patent against the statistical parameters of all the active granted patents in the same technology area and same jurisdiction of the subject patent. The patent ranking is based on a modified Gaussian model applied to the statistical scores. The parameters in the model are customizable based on client needs. The patent ranking is used to ascertain the overall strength of the patent portfolio. As it can be used to identify high-quality potential patent assets in the portfolio. It is based on the concept that a patent of a technology needs to be compared with the patents in the same technology area and in the same jurisdiction which means comparing likes with likes. Once the portfolio is segregated based on the patent ranking tool, the high-quality potential assets can be further analyzed for monetization opportunities through the identification of potential licensees (Tier -II Analysis) and preparation of evidence of use (EoU) charts (Tier -I Analysis).

A few of the considered parameters are citation analysis (Forward and backward citations), Legal status, No. of an independent and dependent claim(s), claim(s) length, claim(s) readability, No. of patent families, risk of invalidation, Technology infringement capability, and Ease of detectability (for example whether it is easily detectable from an open search on websites or require simple physical testing or require reverse engineering) and difficulty to design around, etc.