Best Buy Patents – Key Insights and Stats

Best Buy Co., Inc. was founded in 1966 by Richard M. Schulze and James Wheeler and is doing business in providing consumer technology products and services. The Company offers a range of merchandise and services to its customers, including consumer electronics, appliances, computing devices, mobile phones, entertainment, and other products. As of September 2021, Best Buy has a market cap of $27.1 Billion.

Best Buy has a total of 498 patents globally, out of which 254 have been granted. Of these 498 patents, more than 48% patents are active. USA is where Best Buy has filed the maximum number of patents, followed by Canada and Europe and it also seems reasonable as the biggest market for Best Buy in the United States, in which it generated $43.3 billion revenue in 2021. Parallelly, United States seems to be the main focused R&D center and is also the origin country of Best Buy, where it is the largest specialty retailer in consumer electronics retail industry.

Do read about some of the most popular patents of Best Buy which have been covered by us in this article and also you can find Best Buy’s patents information, the worldwide patent filing activity and its patent filing trend over the years, and many other stats over Best Buy’s patent portfolio.

How many patents does Best Buy have?

Best Buy has a total of 498 patents globally. These patents belong to 259 unique patent families. Out of 498 patents, 244 patents are active.

How many Best Buy patents are Alive/Dead?

Worldwide Patents

Patent Families

How Many Patents did Best Buy File Every Year?

Are you wondering why there is a drop in patent filing for the last two years? It is because a patent application can take up to 18 months to get published. Certainly, it doesn’t suggest a decrease in the patent filing.

Year of Patents Filing or GrantBest Buy Applications FiledBest Buy Patents Granted
2021211
20201417
20192518
20182021
20171624
20163126
20152732
20143926
20134019
20123621
2011365

How Many Patents did Best Buy File in Different Countries?

Countries in which Best Buy Filed Patents

CountryPatents
United States Of America336
Canada27
Europe22
China20
Australia18
Taiwan7
Mexico6
Korea (South)3
Singapore2
Russian Federation2
Brazil2
Austria2
Hong Kong (S.A.R.)2
Japan2
New Zealand1

Where are Research Centers of Best Buy Patents Located?

10 Best Best Buy Patents

US20030182652A1 is the most popular patent in the Best Buy portfolio. It has received 188 citations so far from companies like IBM, Palantir, VersionOne and Apple. The patent’s geographical coverage is in major countries like United States and Canada.

Below is the list of 10 most cited patents of Best Buy:

Publication NumberCitation Count
US20030182652A1188
US8206325B1187
US20120329529A1171
US20020099678A1157
US20140365334A1153
US20020080753A1149
US7778792B2133
US7396331B297
US20140363059A190
US8781502B187

Which Companies are using Best Buy Patents to Advance their Research?

If patents or patents from a particular technology area of a company receive a lot of citations, it implies that the technology is being followed and incrementally innovated by the citing companies. It also indicates that citing companies are working on similar and closely related technologies.

The top companies in the Best Buy patent portfolio are IBM, Samsung and Sony.

List of the top forward citing Companies –

CompanyNumber of Patents
IBM29
Samsung19
Sony14
Philips12
Microsoft12
Walmart Apollo11
Amazon10
LG9
Google9
Intel9

Count of 102 and 103 Type Rejections based on Best Buy Patents

Top Best Buy Patents used in Rejecting Most Patent Applications

Patent NumberCount of Rejected Applications
US7396331B233
US20140365334A133
US20140363059A121
US20030182652A118
US20120204201A116
US10083409B216
US9654589B214
US8206325B113
US8521857B212
US9100615B210
US8553157B210
US20030093388A110
US7778792B210
US7876288B110
US20090002333A19

What Percentage of Best Buy US Patent Applications were Granted?

Best Buy (Excluding its subsidiaries) has filed 99 patent applications at USPTO so far (Excluding Design and PCT applications). Out of these 67 have been granted leading to a grant rate of 69.07%.

Below are the key stats of Best Buy patent prosecution at the USPTO.

Which Law Firms Filed Most US Patents for Best Buy?

Law FirmTotal ApplicationsSuccess Rate
Kilpatrick Townsend & Stockton36100.00%
Forsgren Fisher Mccalmont Demarea Tysver1955.56%
Beck & Tysver166.25%
Brooks Cameron & Huebsch16100.00%
Schwegman Lundberg & Woessner766.67%
Fish Ip20.00%
Stephanie J Smith20.00%
Haley Guiliano Llp10.00%

In 2012, electronics retailer Best Buy was on the brink of losing the market. Brick-and-mortar technology stores were losing market to Amazon and other e-commerce retailers as customers were attracted towards the convenience and low prices. Even the online part of Best Buy was struggling as it simply could not compete with these giants’ selling power.

However, today Best Buy is not only surviving, it is thriving, with a growing domestic online revenue.

Best Buy has always embraced technology. “We know Best Buy is one of the best places to work, and the culture of innovation we’ve built here is a big reason why,” said Brian Tilzer, chief digital and technology officer. So, next time you want to shop don’t forget to check out Best Buy and its innovations in the area of the consumer electronics retail industry.

Do you want to know about the areas of Innovation, Best Buy is currently working on?

What Technologies are Covered by Best Buy Patents?

The chart below distributes patents filed by Best Buy in different countries on the basis of the technology protected in patents. It also represents the markets where Best Buy thinks it’s important to protect particular technology inventions.

R&D FocusHow Best Buy Research Focus Changed Over the Years?

Are you curious to know about the areas of Best Buy’s innovation through the years?

Updated on October 4, 2021

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