Patents, as well as non-patent literature, contain valuable information by definition. The USPTO grants patent protection in exchange for a detailed disclosure of the patented innovation. The resulting patent includes basic (yet extremely valuable) details ranging from application date to inventors to classification. The patent claims must also “enable any person skilled in the art or science to which the invention or discovery appertains… to make and use the same,” per 35 U.S.C. 112(a). Together, these details make patents and other IP a vast source of knowledge.
Harnessing these details from the more than 3 million in-force patents—as well as expired patents, defensive publications, and other non-patent literature—is all but impossible without the power of AI. However, with an AI engine trained on relevant data, intellectual property intelligence is not just possible but practical. Today’s technology enables businesses of all kinds to uncover insights via strategic patent intelligence, defined succinctly in an article in the journal Expert Systems with Applications as “the transformation of content found in multiple patents into technical, business, and legal insight.”
What can we learn from intellectual property intelligence?
Your organization can uncover both competitive insights and internal opportunities with patent intelligence.
Identify industry trends. Using application and publication dates, as well as concept modifiers, you can clearly identify trends and priorities across a technical landscape.
Gather competitive insights. IP intelligence allows for a deeper look into patent portfolios as a whole—whether it’s your own or a competitor’s.
Inform strategic IP decisions. With a clear idea of competitors’ innovation priorities and your own patents, your company can make forward-thinking decisions throughout the innovation lifecycle. The insights derived from intellectual property in your industry inform:
- Investment in R&D initiatives and other business functions.
- Strategies that take advantage of white spaces and blue oceans in the market.
- Potential M&A targets or other partnership opportunities.
- How to maximize the value of existing IP, including commercialization, licensing opportunities, and enforcing patent rights.
- Risk mitigation strategies to protect your IP and business as a whole.
With a tool like InnovationQ Plus®, you can make complex patent data actionable in (close to) real-time. The ability to search semantically democratizes intellectual property intelligence, allowing teams throughout the innovation lifecycle to harness the power of patent data. Removing these barriers to IP intelligence helps businesses make data-backed decisions quickly and bring strategic innovation to market with distinct competitive advantages.