How law firms benefit from strategic patent intelligence
Adoption of technology solutions for lawyers (LegalTech) is accelerating.
Demand for increased automation and efficiency is driving adoption of strategic patent intelligence solutions to support patent due diligence across a range of corporate transactions such as mergers, acquisitions, joint ventures and IPOs.
Cipher has been optimised to deliver actionable insight faster and more cost effectively than manual alternatives.
94% of patent professionals feel confident in using AI solutions for automating patent research instead of a manual service.
– Outsell Inc, Patent Research Solutions Survey 2022: Automation Opportunities, February 2022
“The role of tools like Cipher and the gigantic amount of data that it has access to is enabling, curious inquisitive individuals and companies to learn an awful lot about the world of intellectual property. So they can make much better business decisions than they ever could in the past.”
David Kappos, Partner at Cravath (from the Cipher Vision Podcast ‘An Era of IP Transparency’
For corporate transactions such as M&A, Cipher enables:
- Identification and verification of patent assets owned by the target and its competitors
- Details of active and settled litigation in the US, and key jurisdictions across Europe and Asia (including identification of non-practising entity (NPE) lawsuits)
- Access to additional integrated datasets such as quality metrics and cost data
- Whether there is significant litigation risk, either now or in the foreseeable future
Cipher does the heavy lifting, you deliver insight
Brief the Cipher team on the transactions you are interested in. Advise us of the business sectors you wish us to categorise
The Cipher experts will conduct the analysis and provide your transaction team with access to the Cipher platform to further interrogate and advise
You will be able to view a report illustrating factors such as: organisation analysis; a landscape showing your client’s competitors; and a review of potential litigation
Clients value strategic advice from their trusted advisers. Cipher enables law firms to deepen their relationships with clients and prospective clients by providing the evidence required to support licensing, litigation and strategic decisions.
Cipher also provides both the data, analysis and visualisations to support thought leadership initiatives in areas where your firm wishes to showcase its specific expertise.
An Era of IP Transparency
David provided insights on:
- How IP has extreme economic and strategic value
- Legislation, including the Patent Ownership Act
- Global trade and the challenges faced by IP transparency.
Patent due diligence for corporate transactions
Download a Cipher Due Diligence Report for a hypothetical M&A transaction, which covers:
- An introduction to the Universal Technology Taxonomy (UTT)
- Target analytics
- Competitor review
- Litigation and NPE risk review
Due Diligence report
We are at a point where budgets do not extend to manual review of thousands of patents. The legal sector is now embracing the potential of what Machine Learning and analytics can deliver.
Nigel Swycher, CEO, Cipher and formerly intellectual property partner with Slaughter and May
Frequently asked questions
Is Cipher available for individual projects?
Yes. While the Cipher platform is provided on a subscription basis, for specific transactions Cipher provides per project pricing that includes delivery of the Cipher Due Diligence Report and access to the underlying data in the Cipher platform for the duration of the deal.
Do we need a sophisticated understanding of machine learning or analytics?
No. The fact that technology is improving all aspects of our lives does not require you to understand how technology works, just to trust that it does. Cipher was founded in 2013 and is trusted by major patent owners across all technology sectors. Our due diligence solution for law firms is fully supported so that lawyers entirely new to Cipher can immediately access the insights required for the task at hand.
Are we liable for inaccuracies in Cipher data?
Cipher is the market leader for the automated mapping of patents to technologies. It is well understood that patent analysis is only as good as the underlying patent data from national Patent Offices – which is not perfect. Patent owners are aware of this and standard disclaimers can handle the residual risk of relying on third party data sources.
Do Cipher due diligence reports rely on classification or clustering?
Both. The Cipher platform was originally developed for instant analysis of a company and its competitors. This was based on unsupervised machine learning (clustering).
More recently, Cipher launched its Universal Technology Taxonomy which is a structured taxonomy for all patented technologies. This uses supervised ML (classification). Cipher will recommend the optimum approach for your matter based in your objectives, budget and timescales.
How long do Cipher Due Diligence reports take to produce?
While this depends on the scope and scale of the project, one thing is always true. Cipher is quicker than humans!
Cipher reviews 61 million patents an hour. Most humans can get through about five an hour.
Typical service level agreements (SLAs) for Due Diligence Reports are three days. Law firms with a subscription to the platform say that preliminary reports can be produced in less than one hour.