one-third <\/a>of the total costs involved in the complete invention screening process, let us take a look at some of the use cases.<\/p>\n\n\n\nIn case a company files less than 100 patents per annum (Case 1), it can save thousands of dollars using the hybrid approach. This is because such a company can first screen 6X ideas (6X level, where X=100 ideas) using the AI-based tool followed by a manual screening (2X level). This two-stage screening process reduces the total cost incurred on patentability searches. For the same company, a conventional method where patentability searches are only performed manually, means that the costs are naturally higher. On comparing the costs incurred using a hybrid approach with the costs incurred using a conventional method, you will observe that the hybrid approach allows you to save almost one-third (33%) of the total costs.<\/p>\n\n\n\n
Similarly, companies that file less than 500 patents per annum save more than half a million (Case 2) and companies with more than a thousand patent filings per annum save more than a million dollars (Case 3). This indicates that whether you file patents as low as 100 or as high as 1000, the hybrid approach helps you save nearly 33% costs on the complete invention screening process.<\/p>\n\n\n\n
<\/span>Final Thoughts<\/span><\/h2>\n\n\n\nPatent filing is an expensive process and companies always seek patentability search methods that not only save costs but also reduce the turnaround time. The hybrid approach which is a combination of AI-based and manual patentability searches offers just what every company wants \u2013 cost savings and a short turnaround time. This approach is part of Sagacious IP\u2019s novel \u201cIT for IP\u201d service <\/strong>whichoffers a hybrid mix of bespoke IT solutions and exclusive AI-driven tools for IP departments, IP law practitioners, business intelligence units, etc. Click here<\/a> to know more about the service and click here<\/a> for the webinar.<\/p>\n\n\n\n-Sumit Prasad (IT for IP) and The Editorial Team<\/p>\n\n\n\n
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