Introduction
A forward-thinking blockchain technology company recognized the need to manage a substantial backlog of innovative ideas while continually generating new ones. Despite understanding the importance of prioritizing and protecting their intellectual property (IP), the sheer volume of ideas and the complexity of screening them led the company to overlook potentially patentable innovations.
Diagnose: Addressing the Challenges in Idea Screening and Evaluation
The blockchain company faced significant challenges in managing and processing its influx of ideas:
- Volume Overload: The company had amassed a backlog of approximately 1,000 innovative ideas, with an additional 20-30 new concepts generated each month, overwhelming their existing resources.
- Resource Constraints: Limited resources made it difficult to screen and evaluate each idea effectively, leading to missed opportunities for patentable innovations.
- Need for Strategic Focus: The company required a framework to manage the backlog and align its IP strategy with the fast-paced and competitive nature of the blockchain industry.
The diagnosis revealed that the company needs a systematic, scalable process to screen and evaluate ideas, ensuring it prioritizes the most promising innovations for patenting.
Design: Creating a Multi-Stage Framework for Idea Screening and Patenting
To address these challenges, Evalueserve designed a multi-stage framework tailored to the client’s needs:
- Idea Capture and Screening: The first stage involved capturing all innovative ideas and conducting a preliminary screening to assess their viability, patentability, and product potential.
- Human Expertise Combined with AI Tools: The framework integrated human expertise with AI tools to enhance the accuracy and efficiency of the screening process.
- Client Collaboration: Evalueserve worked closely with the client’s R&D experts to extract detailed information on the most promising ideas, ensuring thorough documentation and robust patent applications.
Deploy: Implementing the Screening and Evaluation Framework
The deployment phase involved the practical application of the designed framework to the company’s idea backlog:
- Data Collection and Screening: Evalueserve meticulously analyzed 100 patent ideas during the pilot phase, applying the multi-stage framework to screen and evaluate each concept.
- Thorough Documentation and Patenting: Evalueserve IP and R&D selected the most promising ideas for further development and assisted in preparing robust patent applications.
- Benchmarking and Reporting: The results were compiled into a comprehensive report, ranking the ideas based on their potential and alignment with the company’s strategic goals.
Impact: Enhancing Strategic Patent Portfolio Management
The implementation of the multi-stage framework had a significant impact on the company’s ability to manage and protect its IP:
- Informed Decision-Making: The company could now focus on patenting the most promising ideas, fully understanding each concept’s potential and alignment with its strategic objectives.
- Scalable Process: The framework provided a scalable solution, enabling the company to manage future ideas efficiently while maintaining its competitive edge in the blockchain industry.
- Revenue Generation: The newly formed patent portfolio, developed from the pilot phase, has already begun generating substantial licensing revenue for the client.
Conclusion
By creating and deploying a systematic framework for idea screening and patenting, Evalueserve IP and R&D transformed the company’s approach to managing its IP. The strategic focus on prioritizing the most valuable innovations streamlined the decision-making process, empowered the company to optimize its resources, and strengthened its position in the competitive blockchain landscape.
