How Our Patent Summary Tool Simplified Patent Information for A Fortune 500 Client
How Our Patent Summary Tool Simplified Patent Information for A Fortune 500 Client: Understanding patents is never easy for people with a non-IP background as they are unacquainted with the basic concepts and sections of patents. As a result, they end up spending a lot of time trying to understand the inventive concepts covered in a patent. On the other hand, seasoned IP professionals are able to relate better with the problem areas, figures, and the working system, and are able to extract crucial information from patents with ease, thereby saving a lot of time.
Thus, there arises a need for a tool, utilizing which a non-IP background person can understand the inventive aspect disclosed in a patent to save precious time.
Recently, a Fortune 500 company approached Sagacious IP looking for a system/tool that could enable them to understand the technology underlying the patents quickly and easily and then pass on the information from their IP department to other departments. The following article discusses how Sagacious IP helped the client achieve this goal using a patent summary tool.
IP professionals are well aware of the process of reading and understanding the technology disclosed in a patent. However, they face challenges while trying to pass on this knowledge to other departments such as finance, manufacturing, and quality, etc. Since our client faced a similar challenge, they wanted access to a system/tool that could quickly determine the essence of the patents and summarize the patent information in an easy-to-understand language. The objective of this exercise was to enable individuals from a non-IP background to understand the technology underlying the patents and perform the necessary operations.
Sagacious IP, with a decade-long experience in the IP industry, acknowledged the challenges faced by the client and collaborated with Fastscience.tv to develop a custom patent summary for the client. Fastscience.tv is an online platform/tool for viewing patent summaries quickly. Essentially, the platform summarizes complex patent information into an easy-to-understand article to assist individuals with a non-IP background in understanding the inventive technology. Sagacious IP, utilizing their vast IP experience, created customized patent summaries according to the intended audience to ensure a quick and easy understanding of the technology disclosed in a respective patent. The simple language summary of important aspects and illustrations were prepared to assist in ease of understanding of complex technologies.
The client was pleased with the results of the patent summary tool since it simplified the scientific literature (i.e. patent enclosing complex technology) into comprehensible language. Further, it helped them give direction to their ongoing research, navigate innovation roadblocks, and consequently influence their competition. So far, the Sagacious IP team has conducted 15 FTO searches, helped clients accomplish five product launches in 15 countries, and also resolved backlogs.
At Sagacious IP, we understand the challenges faced by our clients and develop strategies/solutions to tackle them accordingly. Understanding patents is not easy, especially for novices or individuals with a non-IP background. Companies cannot afford to invest additional money, time, and effort in training non-IP professionals on the basics of patents, rather, they can utilize this time and effort in accomplishing other critical tasks.
Sagacious IP’s Patent Summary tool offers cost-effective and inventor-friendly summaries of patents which cover major technologies around the world. A team of subject matter and IP experts create a simple summary of the patents identified while performing IP/technology due diligence, bespoke prior-art search, portfolio analysis, IP audit, etc. Such patent summaries not only enable companies, inventors and other individuals to understand inventions better, but are also an established approach to enhance collaboration within teams. Click here to know more about the service and contact us to explore how Sagacious IP team can help you in your projects.
-Rohit Kumar (Engineering) and the Editorial Team