Patents are the world’s largest technical repository and also serve as a historical catalog of events. A technology can be tracked, geographically defined, and key industry players identified, all in view of the past, present, and future timeline.
Easily test your algorithms to showcase your product to potential clients by integrating CLAIMS Direct
Patents contain multi-lingual text with rich technical vocabularies and are pre-classified into a wide spectrum of topics from all scientific and technical subject areas. These areas include: pharma, engineering, medical and many more.
Furthermore, patents are written with a duplicitous objective - the claims are to be clear and cover great intellectual property space, while the description is written so only an expert in the field needs to understand. Our full text serves as an excellent development data library for your AI.
If you serve the financial services sector and require “point-in-time data,” patents can show who owned what invention when and who else was in the sector at that time.
Your AI could also experience greater market access. The patent industry is constantly seeking and welcoming new applications into this multi-billion-dollar market. A secondary market could be awaiting your product or tool.
You can rely on IFI to deliver the data precision you need.
Our active data governance has delivered over 1.5 billion record updates in the last 10 years. Through many years of experience working with our partners, we understand the challenges of working with patent data.
Quant IP's Question:
- Does patent data hold valuable information for financial market participants and is there a systematic way to use it?
The IFI Answer:
The quality and accuracy of the IFI CLAIMS database made it possible to conduct thorough research with reliable metrics, which is key for anyone building historical data sets for millions of data points.