At the moment, IP management is a tedious process, for lawyers and businesses alike. Sifting through prior art, monitoring and acting on infringement cases, and filing new patents is a time and capital intensive task. In a world where the invention process is proceeding at an exponentially increasing rate, changes have to be made. Here, Intellectual Property management software and AI have an opportunity to bridge what is currently a large gap in the market.
Generative AI is capable of producing output that can fit many professional standards. So, why not employ it to help with the most tedious process in IP law- patent law? Patent lawyers can spend many hours just drafting documents alone, and this is in addition to already tedious search processes for whitespace analyses and prior art searches. GenAI provides a way for lawyers and businesses to draft patent applications, amendments, and other documents related to IP proceedings in an efficient manner.
GenAI can be trained on specific input to produce area-appropriate output. For example, an AI model can be trained on existing patents and legal standards to draft patent applications that meet the requirements of various jurisdictions. This reduces the time and effort required for manual drafting and ensures consistency and accuracy in the documents produced. Moreover, AI can be prompted to write non-template-based applications that utilize inputted data on inventions and prior art, making the drafting process more adaptable and responsive to specific needs.
In addition to drafting, information retrieval is another time-consuming process. Inventors spend years searching for whitespace in which they can innovate and exploit market openings, and this process requires thorough research both legally and through area-specific literature review and market analyses. AI models that utilize database integration are able to help inventors find new whitespace to utilize for their next inventions and allow lawyers to find the right prior art to list on patent applications.
Database integration allows users to pull out the appropriate results based on NLP models. These models can analyze large datasets, including patent filings, scientific literature, and market reports, to identify trends and opportunities. This capability enables inventors to focus on areas with the highest potential for innovation and allows attorneys to build stronger patent applications by incorporating relevant prior art and market data.
Intellectual property management solutions such as patlytics.ai are forming the intersection of Intellectual Property management software and AI in the patent portfolio management space. By harnessing the power of LLMs and database-linked NLP models, these solutions present a new way for IP-focused law firms to evaluate their clients’ IP and the IP landscape.
