Frontier IP portfolio company Elute Intelligence Holdings (“Elute”) has opened up access on its Patent Reader platform to a group of experienced patent professionals helping them to effectively and efficiently find relevant patent information.
The group includes users from patent rich multi-nationals, high-tech SMEs and professional IP services providers. Elute’s novel advanced software tools enable the users to intelligently search patent information, identifying those documents of most relevance. Frontier IP holds a 43.5 per cent equity stake of the company.
Elute’s artificial intelligence searches, compares and analyses documents to identify similarities between them by mimicking the way people read. The users are able to enter existing patents, draft applications, research papers on topics of interest and identify relevant patents. This means the approach is very different to conventional keyword or Boolean search technologies. A patent application has been filed to protect developments of the technology.
Elute will use feedback from the user group to refine the Patent Reader functionality in advance of a formal product launch later in the year. Elute was incorporated last year from an existing UK business CFL Software Limited and included complementary intellectual property developed by Frontier IP. Existing customers include the Universities and Colleges Admissions Service (“UCAS”) which is using a version of the software called Copycatch to detect plagiarism in students’ personal statements. Others include academic institutions, commercial researchers and lawyers.
Using a whole document as a basis to search IP rather than the more traditional method of constructing complex search strings has totally transformed the way I extract valuable IP information to support the business. Elute’s technology has now reached a level of accuracy and simplicity that means complex search strategies and software are no longer required. The automatic ranking of search results immediately directs me to the most relevant patents and I can instantly understand why they appear to be the most relevant. The ability to review more ideas and inventions quickly and in depth while spending less time on the searching will no doubt help many people across the IP industry”Alex Tame, Head of Licensing and IP Management,
We are pleased to be opening up access to Patent Reader to an impressive group of experienced patent professionals and look forward to their feedback. We believe that Patent Reader has the ability to profoundly change the way patent search is carried out with huge benefits to our customers.”Peter Fischer, Chief Executive Officer of Elute Intelligence
Patent Reader is another demonstration of Elute’s ability to rapidly identify relevant information in large datasets. The underlying capability has enormous value in unstructured data search and comparison.”Matthew White, Chief Commercialisation Officer of Frontier IP Group