An international law firm discovered that Searchstream provided a straightforward and efficient way to submit patent search requests. This platform was crucial for their due diligence processes due to rapidly evolving technology necessitating frequent searches. Patent lawyers customize searches using Searchstream by selecting data types and the scope of their searches. This approach gave users complete control and provided immediate quotes after they submitted their search requests. The tool's simplicity enabled all end users to submit patent searches, resulting in a 30% reduction in operational costs as trainee attorneys could now handle the requests.
Diagnose: Identifying Operational Inefficiencies and Cost-Saving Opportunities
The client recognized and needed to address several challenges in their patent search processes:
- Inefficient Turnaround Times: Patent search quotations took 48 to 72 hours, causing delays even for low-value searches and potentially leading to lost revenue.
- High Operational Costs: The process required senior partners to submit requests, which could have been more time-efficient and cost-effective.
- Competitive Market Landscape: To remain competitive, the law firm needed quicker and more cost-effective turnaround times to handle the influx of client requests.
Design: Streamlining Patent Search Processes with Searchstream
To address these challenges, the law firm implemented Searchstream, a patent request platform, and redesigned its process as follows:
- Customization of Searches: Searchstream allowed end users to choose the search depth, the number of databases to use, and the data types to include, streamlining the search request procedure.
- Security and Confidentiality: The platform's high level of data encryption ensured the confidentiality of search data, instilling confidence in users.
- Decentralized Control: By empowering each requester to control their request through Searchstream, the need for top management approval for every request was eliminated.
Deploy: Implementing the Searchstream Solution
The deployment phase focused on integrating Searchstream into the firm's operations and continuously improving the process:
- Operational Integration: The firm used insights from the initial implementation phase to incorporate Searchstream into its standard operating procedures, ensuring all users could efficiently utilize the platform.
- Continuous Improvement: The team established regular reviews and feedback loops to refine the process, address any issues, and adapt to evolving needs.
Impact: Operational Efficiency and Competitive Edge
The implementation of Searchstream brought significant benefits and positive impacts to the law firm:
- Reduced Turnaround Times: The quick turnaround time for patent searches allowed the firm to close more requests in just a few hours, making them more competitive in the market.
- Cost Savings: With trainee attorneys now able to handle search requests, the firm saw a 30% reduction in operational costs.
- Increased Capacity: The improved efficiency enabled the firm to manage a higher volume of proposals, enhancing its ability to attract and retain clients.
Conclusion
By adopting Searchstream, the international law firm streamlined its patent search process, improving efficiency, reducing costs, and gaining a competitive edge. This strategic move reinforced the firm's position as a leader in the legal industry, ensuring it remained agile and innovative in its service offerings.
