Beyond Invention: Generative AI’s Potential in Patent Portfolio Management
By Mamata Saha
Patents are an integral part of intellectual property. Besides being legal documents, they’re also referred to as strategic assets. And why is it so important to manage a patent portfolio well? When patent portfolios are efficiently managed, companies are able to safeguard their inventions and enhance their patent value, not to mention stay ahead of the competition. While we can agree that patent portfolio management was once a manual, tedious, and unwieldy process, thanks to Generative AI (Gen AI), it’s now an automated process that promises much better days and results. It’s technologies such as these that are causing a sea change in the way patents are acquired, analyzed, and implemented, leading to new, valuable, and comprehensive insights.
Among Gen AI’s many benefits is its ability to smoothen the patent acquisition process. How? Advanced AI algorithms delve into and screen multiple large patent databases, examining their suitability and significance in terms of a company’s patent portfolio. By replacing the manual search process with an automated one, the following things happen:
- The patent acquisition process is speeded up.
- The chosen patents are in line with the objectives the company sets out to achieve within a specific period.
In a word, this helps patent professionals channel their energies and efforts toward more critical strategic decisions.
Yet another benefit of Gen AI is enhancing the quality of patents, thereby improving the overall quality of the portfolio. In other words, systems driven by AI can perform an in-depth study of the patents in a portfolio and find inconsistencies, redundancies, and gaps. As a result, rectification of these flaws helps in enhancing the strength of the portfolio and making wise decisions in terms of which patents to retain, license, and hand over to other parties. Last but not least, AI’s capabilities extend to the analysis of the competitor landscape as well. This practice goes a long way in determining patent infringements, which in turn, helps companies exercise their intellectual property rights. As a result, patents are preserved and protected from going into the wrong hands and being misused.
In summary, we would like to share that Relecura, a force to reckon with in the patent and innovation space, has been spending much of its time working on a plethora of use cases involving Generative AI. Should you have any requirements or questions about it, please click on the following link, fill out the details, and submit the form. Once we receive your details, we’ll connect with you in no time. Here’s the registration link: https://relecura.com/registration-gen-ai/