Why I created the next-gen Patent Management platform
What’s the point of continuing to fill in the leaky bucket if all the water keeps flowing away? This is the very idea behind patent management platform, and while the topic is growing, many companies are still lagging behind.
But first, why did I come into patent management?
My first steps into patent management
In the 2000s, I was working as authorized patent examiner at the Swedish patent office I was examining patent applications every day to challenge the novelty and/or inventive step. The job was fun, but it was also frustrating, many times I came across fantastic applications but once I started to execute a prior-art search I realized that the applicant had only re-invented the wheel and the core of the invention was vaguely described with little supporting information. I was always wondering why didn’t they check the prior-art before they prepared the application and how is it possible for a company to not know what was already filed by other similar companies? And why didn’t they spend more time on the novel part of the invention to add more technical information in the description.
To put this problem into perspective, according to the European Patent Office (EPO) almost 300 000 patent filings were made in 2016 but only 96000 were granted. That meant that less than 30% are novel with inventive step*.
Why aren’t the companies using that fantastic source of information as a trigger when developing a technology or improving an existing technology? The whole idea with patenting is to get exclusivity rights granted in exchange for disclosing the idea to the public. All patent applications can be found on the internet or by using commercial tools. Sometimes I did not know if the applicants knew that or if they did it on purpose and were happy with the outcome.
In 2010 I joined one of the world’s most innovative companies, ABB where I was working as an R&D project manager responsible for developing new solutions to existing products and developing an intellectual property software tool to support business decisions. At the time, I opted to create my own software platform in order to have a better overview on patent business intelligence. Indeed, I have always being passionate about finding actionable insights based on patent information. The second reason was to use the public patent information to avoid re-inventing the wheel and be one step ahead competition.
After some years when the software platform became an internal solution for ABB I concluded that most probably other technology companies must be faced with similar challenges and decided to create I AM IP with my co-founder Falah Hosini.
The urging need for a Patent Management software
In 20 years, some things haven’t changed, e.g. companies still file new patents and neglect their current patents and competitors. Likewise, patent managers are still manually managing their competitor’s patent portfolios in legacy tools such as Clarivate Analytics, Patbase, and Questel and even new disruptors in the space like Innography or Patsnap, they do not track pro-actively the “pulse” of their competitor.
Meanwhile, the end user’s expectations have changed drastically. We are now in the era of digitalization where everyone wants to access the same information by collaborating anytime anywhere. Subscription-based and on-demand tools are becoming the norm. Moreover, engineers and scientists are much more involved in the decision process and innovations, and therefore companies need to involve and stimulate the whole organisation, from innovation and R&D to marketing and sales, resulting in more accurate and more comprehensive decision-making (read our article on the topic: How to get the most out of patent data). That’s when Innovation is at its best.
So, the purpose of a modern patent management platform is to help companies achieve the desired business goals. And demands for such tools are quickly growing within companies.
Indeed, revenues from intangible assets have increased by 75% from 2000 to 2014 with an amounting to USD 5.9 trillion*.
At the same time, patent filings are increasing with 30% every year and that corresponds to over 100.000 patents per week. Patent monitoring process are exploding in an era of digitalization — and to analyse so many documents per week, is a impossible task whereby companies need access to smart tools.
But the options in terms of Patent Management platform solutions are limited and constrained:
* The price is high: only large organizations can afford it.
* The solutions are not flexible: their implementation cycle is long, locking the user into one solution with upfront costs and an unproven ROI
* The user-interface is not intuitive and usually requires training
How to fix it?
At the time, my conclusion was that the established solutions were not in line with the expectations. The market needed a much more agile solution, intuitive (in order to foster team adoption), accessible and affordable, offering a free trial, and connected to other business tools.
That’s how I decided to create IamIP platform, a product to help technology companies to be more productive and do a better job at understating their competitors, new players in the field, trends in the market space, not to re-invent the wheel, growing and retaining their innovation.
Building the next-gen Patent Management Platform
To fulfil our mission, I made some decisions without compromise for IamIP’s platform:
1: Accessing and entering data should be easy as a walk in the park — IamIP’s platform give you access to world’s IP databases and collects data from several sources (Patent offices, INPADOC, Official patent fees, etc.) and extracts business intelligence (patent status, legal status, change of ownership, filing countries).
2: It should automatically identify which patent need attention at each cycle of their lifetime using the product — IamIP’s platform monitors patents’ health based on custom rules. You can track in real time.
3: The product should enable dynamic collaboration based on the customer situation — With IAMIP’s platform, you can empower your organization to increase awareness and exchange insights.
4: It should allow everyone across various departments and office locations, access to the same information anytime and anywhere — IAMIP’s platform helps you automate assigned tasks, follow up and access the complete history of a document, providing full traceability.
5: Finally, IamIP’s platform shall revolutionize the way you work with Intellectual Property and enable you to take lead in innovation— IamIP platform provides users a smarter and faster way to convert patents into business insights through a secure collaborative environment.
For the past 4 years, we have spent our days and nights building the Patent Management platform we were dreaming of. We have iterated and improved over time with the help of incredible clients, such as Macgregor, Melexis, Hiab, Unicarriers, INGUN… Through their feedback and suggestions, they are helping us create the future of patent management tools.
Want to be part of this wonderful revolution? Why don’t you give a try to IamIP’s solution? I promise you one thing you won’t be disappointed. We would love your inputs and we’ll make sure to make it a success for you.
Are you interested to learn more? Join us for our unique webinar run by out CTO and product guru Viktor Rudolf. First come, first served because the seats are limited, use link to book your seat.
Dimitris Giannoccaro, Co-founder & CEO @ IamIP