One of the fundamental conditions to be able to live up to the motto is the ability to view and analyse patent-based information that others can´t see. That promise attracted two students from the University of Stockholm to apply to IAMIP before their final thesis.
For most of us this might sound like conjuring tricks, but not if you are top students in statistics and economics and see an opportunity to work with a unique content in your thesis. Arian Barakat and Rebin Hosini, at the time students of economics and statistics at the University of Stockholm, and in the process of starting up their thesis "Monitoring patent activity using forecasting techniques", now had a relevant but different material to focus on.
The power of being able to interpret trends in patent information.
After discussing with Dimitris Giannoccaro, the CEO of IAMIP and also the publisher of the study "Patent Data as Indicators of Wind Power Technology Development" and with a passion for helping companies acquire a more strategic business approach to technology development and management of patent information, Rebin and Arian got an idea to predict ”patent activity” much more accurate than what has been possible before.
"Today, patent information is not being used to any great extent for strategic business development in companies. That's because today's patent experts neither know what the information really contains, nor how to obtain the partially "hidden" information or how to analyse it, says Dimitris Giannoccaro, founder of IAMIP and one of the masterminds behind the business tool P²ALS that helps companies managing patent information in a new way.”
We wanted to "squeeze all the juice" out of patent information.
Early in the planning of their thesis, Rebin and Arian had an idea, or rather a wish, that their findings would demonstrate the ability to offer companies better basis for business critical decisions with far more credible "hints" about the future, thus giving companies the opportunity to streamline their development significantly.
While Arian and Rebin worked on their thesis they had access to IAMIP's proprietary and advanced software for the management of patent information – P²ALS. The business tool has made it possible both to find, analyse and understand the business implications of the development for different technologies, corporate development activities and the economic and market consequences of various decisions related to patent strategies.
"We already knew that patents contain a lot of information that companies do not normally share. Realizing this, we wanted to delve further into this knowledge as we studied the patterns found in patent activities. We also saw an opportunity to perform a thesis that no one had ever done before said Rebin Hosini.”
From guesses to real facts and figures.
Being statisticians, Arian and Rebin don´t like to leave things to chance. With the support of P²ALS and access to approximately 100 million patent documents from all the world´s patent databases, (the patent database grows with an average of 100,000 new patent documents a week from all over the world) they went through documentation from a variety of technology areas. They also looked far back in time to see if there were similarities in trends for the different technology areas – and there were!
"When we saw that there were many similarities in the development trends, we wanted to compare previous studies on long-term and short-term trends. Inspired by the world of finance, where we found a model that helps to predict prices on the gold market, Rebin and I created a totally unique hybrid model, based on models from previous studies says Arian Barakat.”
From students to key employees in a few months.
Having seen Rebins and Arians big A diploma, we now know that they are more than just two young and theoretically smart guys. Their thesis has proven to be the real deal. As a result of their in-depth thesis Dimitris Giannoccaro, the CEO of IAMIP, quickly decided to hire both Rebin and Arian immediately after their graduation.
"The analytical ability that Rebin and Arian possess, combined with their "let's make a difference "-attitude made the decision easy for me. They are already a major contributor to developing and packaging new and unique services in P²ALS, the business tool they were given the option to use when performing their thesis. With their statistical and analytical skills they are also an asset to the company in situations when we need to explain to other companies how they can streamline their development, Dimitris concludes.”