New tool tracks and predicts IP costs more accurately and efficiently
Clarivate Plc, a global leader in connecting people and organizations to intelligence they can trust to transform their world, launched Forecast, the next generation artificial intelligence (AI)-driven solution designed to enable intellectual property (IP) professionals worldwide to confidently and efficiently optimize their IP portfolios and strategy.
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Forecast is an IP cost forecasting and budgeting tool that gives IP professionals powerful capabilities for predictive budget forecasting, and which is fully integrated with IPfolio, a leading IP management system. This automates and simplifies the process to enable faster budget approvals.
In today’s knowledge-based economy, innovation is a core driver of business growth and competitive advantage. Corporate value is increasingly vested in intangible assets, including IP. This is driving a dramatic expansion in IP portfolios, with the attendant costs of securing, maintaining and protecting patent and trademark rights in a global marketplace also increasing.
Gordon Samson, President, Intellectual Property, Clarivate, said: “Managing IP as a strategic asset and as a major cost center is an issue of increasing importance, from corporate legal departments to the C-suite, and it requires careful financial management.”
“With empowering IP professionals at the center of our strategy, Clarivate is utilizing AI technology and proprietary best-in-class data assets to launch Forecast, and provide IP professionals with new powerful capabilities for predictive budget forecasting. Our continued investment in AI demonstrates our commitment to bring clarity to the complex and support IP professionals in a rapidly changing environment.”
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Powered by predictive AI, Forecast provides IP professionals with the ability to track and predict IP costs across the entire portfolio more accurately and efficiently. It can create budget scenarios to make smarter filing and maintenance decisions, and generate real-time reports and dashboards to collaborate seamlessly with stakeholders and achieve faster approvals.
Clarivate also recently launched the Brand Landscape Analyzer and announced the development of the Trademark Watch Analyzer. These tools leverage AI on rich proprietary content and are trained by Clarivate internal search experts to analyze and deliver insights from more than 140 million trademark records and over 6.2 million trademark office and court decisions.
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