The be-all and end-all for lawyers and IP counsels embroiled in the complexity of a patent appeal process is to have the most convincing argument that the ruling panel of judges cannot refute. Decision makers like law firm leaders or IP counsel expend a great amount of time in quantifying the immeasurable heap of patent filings and valuable IP data points published annually, to procure actionable insights on IP related issues. “Realistically when filing a litigation case or an appeal case, relying solely on the experience and gut feeling of a law firm or IP counsel without deep level insights does not suffice,” says Tony Afram, founder and CEO of ipQuants. In today’s day and age, when every industry depends on data-driven decision-making, legal industry innovator ipQuants quantifies the world’s legal data to empower legal practitioners to make data-based decisions.
“We want to address a twofold issue from the lawyer’s perspective by helping them maintain an optimal balance between achieving a better outcome with in-depth data insights and improving efficiency,” says Afram. “With the data, the numbers, and the reasons that we provide, they can be better informed and are bound to have better results.”
One of the strengths of ipQuants is that its ready-to-use solution does not require the users’ data to be uploaded to the system.
With the data, the numbers, and the reasons that we provide, legal practitioners can be better informed and are bound to have better results
It can be up and running the moment the clients want access. This spotlights another issue that a lot of organizations face because they focus too much on the data created inside the four walls of their business. Even with tools like Tableau and Excel or with an in-house analyst to clean the data and prepare it for them, organizations miss a significant part of the picture at the end of the day because their in-house data is insufficient. ipQuants is the only provider in the world that has been able to create a knowledge graph linking all of the European Patent Office (EPO) case law decisions with respect to the board members to help lawyers understand how each board member thinks and passes judgment. “Everything we do is drilled toward making the solution user-friendly and efficient for the decision maker to get their hands on these insights quickly,” says Afram. Moreover, ipQuants can perform more in-depth analysis than legacy products as “the proprietary algorithms that we have written allow us to go at least a couple of layers deeper than ever before.”
One real-world example to emphasize the capabilities of ipQuants is a client that had spent half a decade and nearly a hundred thousand euros during a patent prosecution. The client wanted to understand the legal topics, the composition of board members that they were facing, and how they usually ruled with respect to a particular legal topic. When ipQuants provided the client with all the legal arguments that the panel members had come across in the past, the client was able to find a substantiating argument that they would not have found otherwise. What followed was: better results in a fraction of time.
As the legal industry advances, ipQuants wants to be able to provide a 360-degree view for everything related to European patents. The company aims to empower the patent owners to come up with highly sophisticated strategies for patent prosecutions. “With so much knowledge on patent data at our disposal, we want to enable our clients with easy access to innovations, statistics, and amazing insights,” shares Afram. To this end, ipQuants is en route to offer a one-stop platform where it quantifies all of the business-critical information that no other single source can provide.