We’re building software tools powered by machine learning to automate the patent drafting process, which would speed up drafting times by over 50%. Using natural language processing, we input a summary of the proposed product (to be patented), then compare them to our combined database of existing patents to conduct novelty searches. This search checks if a highly similar innovation already exists, and if so automatically extracts and summarizes the relevant patent claims, saving lawyers a significant portion of their time. We also provide analytics and recommendations for the lawyers to draft their patent drafts faster. We’re passionate about this project because we enable the next generation of Steve Jobs, Bill Gates or Elon Musks to be able to focus on their creations rather than patent applications.
What inspired you (or your team)?
After talking to dozens of startup founders we realized that patents were a reoccurring pain point for them. Instead of working on technologies or sciences that solve massive problems, startups are spending their time and resources to go through a lengthy intellectual property protection process. We talked to people that refrained from starting their next company because the legal procedures were too daunting.
Filing patents takes way too much time. With our combined experience in exponential technologies me, Alishba, and Isabella got together to research the Intellectual Property market, to gain and find better ways to protect game-changing ideas legally.
After speaking to several patent attornies, and legal partners in the space, we found a large $750M market opportunity. We saw this as an opportunity to build better software tools for patent lawyers.
What started our inspiration was our love for technological innovation. I’ve been working in the machine learning space, Alishba has been working in Blockchain, and Isabella has been working in food tech. Collectively we want to leverage technology to solve the world’s most pressing problems. To enable these products to take on the markets, we need faster and cheaper systems. Ultimately, creating more “startup-friendly” legal services thrills us so that the next generation of Steve Jobs, Bill Gates or Elon Musks can focus on their creations rather than patent applications.