The knowledge of patents has been considered for a while as the ingredient essential to boost innovation. This is a view in the case of the development of new prescription drugs as the time of development is lengthy, costs are high, and risks in conducting development (R&D) are great as compared to generic drug development. Intellectual property protection in relation to drug patents has been found by researchers to be of prime importance as compared to other properties such as trademarks and copyright to the research and development of pharmaceuticals. This is also true when other industries are compared. Surveys from government and private sources have shown the importance of patents to be high in biopharmaceutical innovation. The market and patent landscape change over the years and needs to be monitored for competition, legal angles, and strategic marketing and development needs.
The economic nature of patents and regulation of exclusiveness have become a must in the development of safe and successful prescription drugs. The cost, length and risk of innovation and the threat from lower investment required generic drugs make it necessary to be aware of the patent landscape, threats and opportunities. Across the globe innovators would not risk making a drug if substantial investment is not safeguarded by patenting and laws. Drug development has a global outlook today. The patent laws and regulations are highly country-specific. Because of these characteristics in development of a viable drug product from research to delivery to the market one needs good monitoring of all the parameters that will affect the development of a patented drug.
Alerts predefined by particular search syntax criteria by PatSeer, a global patent database and research platform with integrated analytics, project workflow, and collaboration capabilities can help one keep a track of particular patent activity for a specific domain, assignees or other customized required parameters. The search syntax is entered in the text box and the alerts’ frequency can be set as weekly or monthly. One will get alerts of patent activity based on the parameters one is focused on through mail. The matching result set is sent conveniently to the e-mail ID. Similarly, the matched records can be used and manipulated for analysis in project. An example of search string that can be used to monitor the patents of choice follows.
The image below represents matched results for search query which was set as an alert.
PatSeer’s platform also has a feature that allows a record of choice to be monitored for activity such as updates in legal status, forward citations, etc. It allows convenience and monitoring for changes as can be seen.
The system allows customized, e-mail alerts when a patent application of interest is published. Also, the direct access of all published patent applications that suffice search criteria allows a complete awareness of patenting activity in the domains of interest to the user. Customized alerts mean greater and quicker public identification of prior art used in ‘pre-issuance’ submissions in new patent applications. The USPTO established pre-issuance submissions process under the America Invents Act (AIA) with more than 2,600 submissions across all technologies received to date. PatSeer’s alerts will allow greater quality of information transfer, examination and awareness of patents of interest very conveniently to its user.
The alert system in PatSeer stops the need for time-consuming manual searches that would have to be done every week. The search results are delivered to one’s e-mail whenever a new patent of interest is published. The alert once set in provides everything – settings to delivery. It provides a concise listing of all the new citations which can be stored, retrieved, shared with colleagues and clients. The syntax parameters can also be set to monitor your own portfolio to see which patents are being searched and cited in other patents. It gives a better idea of the changing patent landscape and competition in the market.
The patent alert system used in PatSeer is a valuable and useful resource that can help patent attorneys, IP lawyers, IP counselors, R & D scientists, search and analytics firms, and other licensing, technology evaluating and transfer entities.
Patent alerts increase efficiency. Monitoring and tracking of published patent applications, issued patents, abandoned patents, rejected patents, expired patents is possible without any legal threat. Patent alerts can be tailor-made to suit ones requirements conducted systematic either weekly or at another monthly frequency. Technical patent applications can be spotted as soon as they are published. The latest prosecution status of pending patent applications for a particular technology or domain monitoring is also possible. The latest legal status or the continuation applications of granted patents in a technical interest can also be monitored easily. The newly published patent applications of competitors or the inventors can also be monitored and one can be altered of the developments. Prosecution status of competitor companies and or inventors and legal status of granted patents can also be monitored. There is a growing need to monitor new competitors, new development in technology spheres and the opportunities that may develop in the world. This is especially true with regards to today’s growing competitive economies. The alert systems can be used as a way to effectively out compete your competitor with the use of simple tailored alerts.
PatSeer’s alerts with a syntax established by your liking can save time, help monitor and be used to consolidate information you need of patents. By monitoring patent information and analyzing the data using PatSeer’s platform it can give you the competitive edge. The edge that will safeguard your patents and their use in the global arena, help you develop new ideas, markets and strategies and manage your patent needs effectively.