The primary objective of patent systems is to grant the inventor a patent. An invention or a new solution to any existing technical issue is sin quo non to grant a patent. In return, the patent system requires the inventor to provide a complete description of the know-how. This description is then published, making the invention available to the public. Thus the description of the invention, along with various other parts of a patent document such as bibliographic information, drawings, claims, etc., forms the part of “patent information.”
Patent Information
Over the past decades, the patent information disseminated through the publication of patent documents has amounted to a high volume of patent databases. All thanks to the Internet, this rich accumulation of Scientific data and information disclosed in patent documents can now be easily accessed and retrieved to conduct appropriate patent information searches.
Different kinds of patent searches are conducted to satisfy various queries. These searches are, namely, State of the art search, Novelty search, Validity search, Technology trend search, Name search, Freedom to operate search, and Patent landscape analysis. Following are some of the main reasons for conducting an ideal patent search amongst the list mentioned above before proceeding to file a patent application:
Determine prior art in the relevant field to strategize and avoid wasting money and effort,
Avoid litigations,
To track market trends and develop knowledge about competitors,
To implement a corporate strategy,
For attracting investors, etc.
Who can utilize it?
An entrepreneur who is set to bring his product to a market, a researcher who is at his/her initial refining stage, an expected applicant heading towards applying for patents, an acquiring company targeting an extensive IP portfolio, a policymaker, a manufacturing company, etc. are few among the non-exhaustive list of stakeholders who can utilize the patent information through conducting a relevant patent search.
Companies can use patent information to protect significant investments, which usually go into developing technologies and inventions. It is equally beneficial to utilize patent information in business planning, for instance, licensing deals, technology partnership, mergers, and acquisitions. It can also be used to monitor the competitors in terms of their activities and progress.
Entrepreneurs can use patent information to ascertain any possible risk of infringement even before marketing his/her product. Subsequently, patent information can also be used to challenge a patent’s validity in the context of a plea of defense.
Patent information is also essential in dealing with mergers and acquisitions. For instance, it allows the acquiring company to evaluate patents owned by the target company and ascertain the inventors’ status and whether they are staying with the company. Thus, allowing the acquiring company to retain the essential inventors and patents.
What information can be retrieved?
Depending on the searcher’s needs and the quest to find answers for making appropriate decisions, it is essential to determine the area of the invention, the context of the question, and the relevant patent search to be conducted. Following are the few regular class of questions that can be answered by way of conducting an appropriate search strategy:
- What solutions are there for my technical problem? – State-of-the-art searches.
- Can I obtain a patent for my invention? – Novelty/patentability searches.
- Is this patent valid; can it be legally challenged? – Validity searches.
- What inventions has this individual or this company been involved in? – Name searches.
- How has this technology developed over time, and who has been involved in its development? – Technology activity searches.
- Can I produce and/or commercialize this product in that country; has this patent been granted; is it in force? – Freedom to operate searches/legal status searches.
Conclusion
The patent information has been utilized differently by ordinary people with common objectives to find specific solutions for specific issues. The strategic use of this information furthers the individuals, body corporates, members of developing countries, etc., to benefit from the patent information and consequently develop IP policy to encourage economic growth.