Have you ever wished that you had tomorrow’s newspaper today? Contemplate how well you could run your business and make strategic investments with confidence if you knew what the outcomes would be.

Competitive intelligence and market data have always empowered business however, we’ve learned that leaders don’t always have the time or the context to take advantage of what’s available.

What if I told you that a rich data source is already available, called patent data and analytics, and you could start using it today to make decisions?

These concepts can sound daunting and you don’t have the time to read technical documents or become an expert in intellectual property law.  Not to worry, Magic Number is here to help!

Patent Forecast® does this work every week for you by identifying the “must-know” information within your company’s commercial industry or your personal area of expertise:

• Reads through patent documents and published pending applications

• Organizes all the information in an easy to use digital format and visualization

• Filters only the relevant information specific to your industry

• Collects commercial and competitive ownership information

• Aggregates market news and corporate activity and summarize into a single feed

If you’re an independent inventor, this data will shed light on an industry to help you identify the innovation trends and invention density within specific categories. If you are a large corporation, our suite of products shows you information about your competitors, assist with product roadmap creation, and is an essential component of strategic planning. 

What is Magic Number and our suite of patent products? 

Magic Number’s Patent Forecast is a powerful suite of analytic tools that run in any web browser. Our primary interface is an interactive visualization of AI-classified patent and market data that’s updated every week. We’ve done all the heavy lifting for you; all you have to do is sit back and absorb the insights. For in the world of patents and intellectual property, you don’t get a second chance.  The rewards go to the first inventor or company to file.

Patent Forecast is the foundation of a solid patent strategy and product roadmap as helps:

  • COMPANIES explore competitive intelligence
  • STARTUPS identify potential exits and licensing opportunities
  • INDEPENDENT INVENTORS build an IP portfolio that’s attractive for licensing of commercialization
  • INVESTORS get insight on investment opportunities before anyone else

Patent Forecast was first built for a large industry such as Artificial Intelligence for Biotechnology and Diagnostics, then it is broken down into sectors such as Cardiology. Our structured approach allows your company to hone in on the most relevant information. The visualization above shows a granular view pulled from the United States Patent and Trademark Office (USPTO) showing sub-categories of patents filed within the sector, such as: Pacemaker/Defibrillator, Acoustic, Microbiome, Fetal, Biochemical and more.

Continuing this example of the Cardiology sector from the AI Biotech/Diagnostics industry, from just a glance at the opening page of the Patent Forecast, you will be shown a comprehensive analysis of the sector patents, which have grown 688% in the last 5 years. 

Aggregate information is presented upfront, while if you were doing this analysis on your own, it could take hundreds of hours. Patent Forecast does the work for you to filter, aggregate, and organize patent data, thereby empowering your team to make better decisions. Our example, showing that Artificial Intelligence (AI) and the medical field are a natural partnership to foster innovation and advancements in healthcare.

If you are more of a visual learner, Patent Forecast has you covered. Our Patent Matrix® view provides a visualization into what is going on in an industrial sector and where the growth trajectory could be headed. For example, as of the end of June in 2020, 52 applications were filed, and 24 patents were awarded for concepts and products which will surely game-changers in the AI Biotech/Diagnostics: Cardiology sector. 

While exploring this sector, you can click on the various Patent Points seen on the Patent Radian, which will allow you to drill down further to see the patent number, what the patent is for, and the company owner. 

For example, in the AI Biotech/Diagnostics: Cardio sector, you can learn the following while analyzing the radian: 

  • • 10631828: Using Machine Learning to analyze echocardiograms, Yva.ai
  • • 10524761: Next-generation stethoscopes, California Institute of Technology
  • • 10639488: Implantable medical devices that detect taps – Cardiac Pacemakers (Boston Scientific)

The density of Patent Points, either over a timeframe or in a specialty area of a sector, shows which markets are emerging or more saturated, depending on how you are filtering the Patent Radian. Review of Patent Points over time paint a clear picture of research, innovation, and investments certain companies made (such as Boston Scientific which filed 12 patents) versus other companies who are just breaking into the space (like Inserm – Institut De La Recherche Medicale).

Conversely, if you see larger “white space” areas, these areas ripe for possibly ground-breaking innovation in a field – so look around to the other Patent Points in the area, and connect the dots to innovation for your company, or a way to pivot your roadmap! 

Once a Patent Point is selected, you can get a closer look at the details of patent applications and issuance by clicking on the patent number. You will be brought to the Patent Matrix view, which gives a high level look at the important points in the patent application or issuance documentation. Our Magic Number solution has done the work for you. Instead of reading through lengthy documentation, taking up a lot of time and money, Patent Forecast® offers a Patent Matrix view to subscribers. This gives you the most important pieces of information in an easily digestible format. 

Every patent featured in Patent Forecast has this level of detail and information ready for your team to utilize to your advantage. Knowledge is power and can lead to insights you wouldn’t have otherwise had in your role at your organization. Leverage the data we can provide to you, to get winning results for your clients or your company. Let us help you read that headline of the future; may we offer you a cup of coffee and a copy of tomorrow’s newspaper?  

Courtney Greenwood, Head of Innovation Relations, brings over a decade of experience in marketing, technology and business strategy to Magic Number. The majority of a her career has been spent in the healthcare and technology industries, doing product launches, and working in start-ups. Courtney has her MBA from Suffolk University and lives in Charleston, SC. 

Want to try Magic Number for yourself? Contact us to start your own 7-day free trial to see the insights available right at your fingertips. Check out our full list of Patent Forecasts ® across many industries here: https://patentforecast.magicnumberip.com/sectors  Don’t see what you need? Contact us to discuss the creation of a custom forecast! Remember – knowledge is power, use it to your advantage.