There are a lot of IP analysis and monitoring tools out there.
What they promise is ease and efficiency, but what they actually deliver is more work. There's data inside, but to get it out, you need to manually search, process, export, and scrub the data. There's no way to integrate it with other tools or automate the work that it takes to actually gather the information and make it useful and actionable outside of that particular platform.
This is called a “walled garden” solution—it's like having a giant pile of data that sits off on its own, isolated from everything else. But data on its own isn’t very useful, which means that in order to make that data useful, you or your staff will need to do a lot of manual work pulling it in and out of the platform.
Manually importing and exporting data waste's valuable employee time, is error prone, and just doesn't scale.
With IP Street, we've taken a very different approach. Instead of just having a big pile of data that takes time and money to sift through, we provide data as an asset that can integrate with and power your existing tools.
We make the process of managing IP data seamless and automated to meet your needs and work within the programs and processes you already use.
Patent Data Everywhere and Anywhere
As a company, investor, or engineer, you need to layer patent data with other meaningful metrics and information to provide context. You need to create triggers, alerts, and monitoring systems that work in real time to provide insight about competitors and other happenings within your market.
This is patent data as a service, which is the framework for our patent analytics API, providing you real-time data based on your unique, changing needs.
Cloud APIs like this are the future of much of the technology that underpins new products and services. They allow the seamless transfer of data between different platforms and create a framework from which you can synthesize all relevant data into meaningful insights and actionable information.
How Cloud APIs Change Everything
Data that creates extra work or isn’t integrated into existing systems gets ignored—plain and simple.
To create a data-first company and culture, your organization needs to build a framework for the data that matters, and then create processes that inject that data and use intelligence to drive action.
From a single company’s patent data, we can meet the needs of various different stakeholders. For some, it's a simple as doing patent searches from within Microsoft Excel or Google Sheets. For others, it's getting deep in the data weeds with Tableau or Plotly. Investor types can analyze venture capital deal flow by integrating with MatterMark or PitchBook and lawyers can ensure that all the data in their Clio or Rocket Matter docket is always up to date.
Let’s take Tesla Motors as an example and walk through some of the ways that the data available through our cloud API can be used by different groups of people.
Investors
An investor or stock broker could create real-time alerts for new Tesla patents and/or patents filed by key competitors. The scope analysis could be used a heuristic to indicate the importance of the patent, and then the data could be fed into a programmatic trading algorithm, which will buy or sell stock based on emerging patents—without the need for manual analysis.
Vendors and suppliers
Secondly, a manufacturer of speciality parts could create a customized alert system that identifies patents for technology related to their specific product. The IP Street API could connect automatically to SalesForce and create an entry about a new prospective customer. So if Tesla were to file a patent for a new automotive feature that requires a specific fastener or compound, the company that supplies this product could immediately have a business development rep contact their purchasing department.
Technology competitors
In another case, a competitor to Tesla could create an integrated monitoring system that scans LinkedIn for new employees at Tesla Motors. Then the API could be used to retrieve that employee’s comprehensive patent portfolio, quickly alerting the competitor of the new hire and creating a detailed intelligence briefing that could point to a change in strategy or future technology focus.
These scenarios just highlight a few of the infinite possibilities that come with a patent analytics cloud API solution. Anything your company needs to gain and advantage or stay competitive can be created through an integrated system.
With a single source of patent data and an unlimited number of customized integrations and touchpoints, any company with an interest in IP filings can create the perfect technology solution to provide a clear strategic advantage. Sign up for a free trial account to learn how IP Street’s technology can transform the way your company does patent analytics.
