Invention Lifecycle Support System for Patent Investment Prioritization
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Solution Overview
Problem
Companies face challenges in determining which ideas and inventions to invest in, often leading to costly mistakes due to a lack of a scientific approach in evaluating patent priorities, resulting in inefficient allocation of resources and potential waste.
Innovation Solution
The Invention Lifecycle Support System (ILSS) employs a market-based approach to facilitate decision-making by creating a marketplace for investing in ideas and inventions, using tools, reward structures, and reputation systems to determine which inventions should be pursued, licensed, or abandoned, based on market participants' predictions and evaluations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If companies use traditional priority systems and patent committees to evaluate inventions, then decisions can be made based on perceived importance and budget, but costly mistakes are made due to lack of scientific approach and accurate information
Solution Approach 1:
The system implements feedback loops where investment data from the marketplace continuously informs evaluation criteria. Market participants' predictions and actual investment outcomes feed back into refining the priority system, creating a self-correcting mechanism that improves evaluation accuracy over time and reduces funding of unsuccessful inventions.
Solution Approach 2:
The patent replaces traditional mechanical review processes (patent committees manually evaluating inventions) with an automated marketplace system where multiple participants provide predictions and investments. This substitution leverages collective market intelligence and automated data analysis to achieve more accurate evaluation than human committees alone.
2Reliability
If companies invest heavily in patenting all potential ideas, then more inventions may succeed, but resources are inefficiently allocated and money is wasted on ideas that are easily worked around
Solution Approach 1:
The system applies partial action by funding only those inventions that receive sufficient market validation through participant predictions and investments. Rather than funding all potential inventions, the marketplace mechanism selectively advances only the most promising ideas, achieving high success rates without wasteful over-investment.
Solution Approach 2:
The patent changes the evaluation parameters from static criteria (budget allocations, perceived importance) to dynamic market-based parameters (participant predictions, investment levels, reputation scores). This parameter transformation enables more accurate identification of successful inventions while optimizing resource allocation efficiency.
3Loss of information
If companies rely on market and product success data to prioritize inventions, then decisions are based on available information, but the process is far from a science and mistakes are not caught until money is spent
Solution Approach 1:
The system performs preliminary evaluation through the marketplace mechanism before any actual patent funding decisions are made. Multiple market participants provide predictions and investments in advance, allowing errors to be detected and corrected during the evaluation phase rather than after money is spent, thus reducing both information loss and detection time.
Data Source
AI summary
Methods, systems, and techniques for discovering information using structured investments in an invention network are provided. Example embodiments provide an investment tool which allows users to invest currency in disclosures, ideas, topics, inventions, patent applications, patents, etc. which they determine will ultimately be successful. In one embodiment, the inventions are organized by schema to enable participants to invest or otherwise participate according to particular aspects. These aspects are typically areas in which the participant has or will have established a reputation for successful results in accordance with some future outcome.