A key part of watching a sport event is the insights that are presented to the viewer. It is, however, not just about getting access to insights. The sport industry is so fascinating because insights are provided at the right point in time.
It is also important to remember that the insights a sport team studies are not used in order to “avoid a competitor”. It is about being more informed and increasing the chances of winning.
When Liverpool builds a data analytics team and they share data-driven insights with their coaching staff, they know they cannot avoid playing Chelsea. They do it to increase their chances of achieving a positive outcome and to manage expectations.
In similar fashion, your legal team can use insights to increase your chances of winning.
At ipQuants we are digitizing the entire path through the patent office, so patent applicants can have relevant insights at each stage of the legal process. And we are even delivering the insights seamlessly into your workflow.
To better understand how the ipQuants digital assistant solution Qthena can support the professional, we will take a look at the following three basic workflows:
1. Will this patent be granted?
One of the most basic examples is when the questions about the status of the patent comes up. Will this patent be granted?
Patent attorneys usually need at least 30mins to collect all relevant documents and then try to assess – based on their experience – the outcome. A non legal professional does not even need to try at this point. To difficult.
Qthena supports this workflow, since for each pending patent application we calculate a prosecution risk score to help professionals in the assessment. Based on analyzing previous similar cases, it is a much more accurate and efficient way of approaching this problem.
All it takes is a single click for the patent professional, or R&D manager, since the objective score can be understood by anyone. You not only receive this objective score on patent application level, but also on technology sector level. The output could look as follows:
A risk score of 100 indicates that it will be extremely difficult at this stage to get the case to grant. More resources should be deployed to this application if it is of importance. Of course, the Qthena user is also informed as to why the score is high.
2. When can we expect a patent grant?
Time is important. Applicants want to know how much longer to they need to wait. it is equally important to know whether this time is within the expected range or is my case “unusual”.
This question can also be answered with a single click.
All required insights to provide informed feedback are provided by Qthena, so that the applicant can make an informed decision on next step.
3. What shall I do next?
Deciding on next steps is the key value the patent professional provides. Whether or when to change a patent claim is a key decision. Any information providing transparency that enables the professional to take a more informed decision will be of value.
Therefore, the Qthena solution also supports the professional planning the next steps. Insights that take into account my current “location” in the patent process and the implications of moving in one direction vs the other.
Qthena supports the professional by insights like the below, which clearly flag to the professional relevant information to manage client expectations. If a cost incurring step is now suggested by the professional, it is much more likely that the client will accept the additional cost. The professional is essentially empowering the client to base cost-incurring decisions on data-driven insights.
Above are just three examples of how workflows can be supported with data-driven insights at each stage.
In an upcoming post, we will explain how workflow automation can also simplify document collaboration. Make sure to follow us on LinkedIn and sign up to our newsletter to not miss out.