Intellectual Property (IP) is of paramount importance for any organization in today’s world and therefore, it is essential that companies, small or big, protect it in the best possible way. For many people, when we talk about IP, it seems very simple and yet when you go deep into a conversation they have no idea on what it takes to develop and protect IP.
IP is well known in industries which thrive on innovation, research & development, manufacturing etc., but as we move from the west towards east the level of education and knowledge on IP decreases. It is very important for organizations to value and protect their IP assets, but it is easier said than done. Protecting IP assets is a very tough and expensive job. From checking the strength of an idea, which might or might not get a patent, to protecting it from competitors, IP management requires a lot of money.
TT Consultants has been in this field for more than a decade and we’ve been monitoring this field very closely. After talking to clients, visiting conferences, and analyzing the need of the hour, we’ve come up with highly cost effective product based applications which can help companies from all spectrums manage their IP assets with high efficiency.
Our product is known as XLPAT, and it is a ‘one stop solution’ to various aspects related to managing your IP Patent assets. XLPAT is an interface by which one can have access to the world’s largest patent and non-patent data under one platform. For patents, XLPAT sources its data from Lexis Nexis and for Non-Patents, XLPAT is linked with databases such as IEEE Explore, Scopus, Science Direct, PubMeb, Arxiv, and Springer.
XLPAT is unique because one can apply intelligence on extracted data rather than just extracting data. With XLPAT one can perform Automated Prior Art Searches & Patent Analytics within a few minutes. Essentially what we are saying here is, what a manual searcher would do in 35-40 hours, XLPAT would do the same amount of analysis within 10-12 minutes and in less than half of the cost.
XLPAT is currently being used by a wide spectrum of clients ranging from small-mid-big size companies, universities, research institutes and patent brokerage firms. Most importantly, XLPAT gives young budding entrepreneurs & start-ups from universities and small size companies a platform by which they can manage and protect their IP assets in a cost effective way.
Additionally, in cases where there are export regulations relating to safeguarding national interests, XLPAT can be used as a cost-effective mechanism to manage IP assets. XLPAT can easily be hosted on in-house servers, at a very nominal cost, and therefore it makes it a cost-effective way to manage IP assets which come under export regulations.
Author - Ishwarj Singh Dhatt