Most innovation work is exploring know concepts!
This article gives you a brief overview on how and where to search prior art to easily assess the innovation landscape around new ideas. Why is this important? Now traditional scouting using Google and reading articles is normally only covering less than 30% of the knowledge base. This limited coverage is generally not known and yields a false assurance if relied on it as a basis for decision making. And this is one of the main reasons that more than 50%(!) of all innovation projects do reinvent already known concepts. Let’s se how to get more sustainable innovation and avoid reinventing work by exploring patent information which covers more than 80% of the technology knowledge.
How to make sure our new invention is “new”?
The first insight here to grasp is that searching patents is the most important way to find out whether an idea has already been invented by someone else. As said, 80% of the known information is stored in these databases where you are able to search for ideas and innovations that were subject for patents in the past. And 90% of this information is actually free to use as not in force anymore. Hence, a much better source to explore in any R&D project.
However, searching for ideas, inventions and innovation through traditional patent exploration is very daunting. The texts are written in complex language and with a legal context and often need experts to interpret properly. Hence, this domain often not known to researchers or simply ignored due to inaccessibility.
Now, with the help of IPscreener it is made possible for anyone to explore and understand the knowledge hidden in patents. By using AI we bridge this gap, to make the complex patent information easily pain-free explorable and understandable by researchers, StartUps and SMEs.
What can I learn from patent searching?
Patent searching is one of the most powerful tools available to entrepreneurs. It’s also a great way for you to learn about patents and how to extract business intelligence from it. Here are some things you can learn from patent searching.
- How new is your idea in view of what is been done world-wide. This helps to understand the inventive edge, to focus the resources on that and even make use of other knowledge, either freely or by license and partnerships.
- What potential risk are there to be dependent on competitor rights covering my idea. This helps to also understand how much you need to change your idea in order for it not to be considered a copycat of other patent rights.
- Understanding the trends of the related development activities. For example, to get insights to who is active in my domain, where in the world and when. This also serves to analyze trends and potential clients and/or competitors.
Why is IPscreener an important tool for me to use?
IPscreener is a tool that can help you to instantly understand your innovation landscape, without need for expert help. By using simple input, such as regular texts, articles, home pages or even by recording a conversation.
This helps you to early on find out if your idea is already known or patented by someone else. This is so important is because if it’s already revealed or patented, then there may be need to adapt to it. Or even find out there is no point in spending time and resources on developing your product or service further. On the other hand, if your idea is new, then you know that investing into the projects makes sense and may suggest that you should engage in patenting it.
IPscreener can help you search for similar ideas, inventions and innovations, it can also help you to assess the innovation landscape, identifying competitors, trends and global activities to navigate risks and market possibilities.
At the end of the day, you don’t want to spend time and energy on an idea that you can’t actually use. IPscreener is an easy way to find out if your idea is a good one or not.
The benefits of AI and patent searching
Patent searching is tedious because of the thorough nature of the research and the information that you need to read and analyze. A system like IPscreener can help you with the work of patent searching by having the AI to assist the interaction and follow up review.
The system will be able to search for a broader range of search terms and keywords that you may have missed while doing the patent search manually. One huge benefit is also that the AI is helping you out to read and understand patent documents, by pointing out and suggesting what is being most relevant to read, and why. In addition to this IPscreener is learning in the background from the user behavior to improve further search and analysis of an innovation idea. All you need to do is to “like” documents and maybe high-light text section of specific interest and the AI do the rest.
By using AI search to assess innovation landscape the review can be completed in minutes as compared to days that it would be demanded by a manual research.