Create Valuable Patents – Boost University IP Commercialization

University IP Commercialization- A lot of emphasis by the Indian government on the importance of patents for educational institutions and a further reduction in patent fees by 80% for educational institutions have pushed these institutions into a rat race to file patents. Thus, leading to the concept of “University IP Commercialization.”

The Mindset Shift

The good news is that now the mindset of these educational institutions has started shifting towards patenting research publications. But without proper infrastructure and processes, there might be a possibility that some universities may submit patent applications solely for the purpose of doing so.

However, patents, by their definition, are granted to novel, non-obvious, and useful ideas. So, in this hurry, we might see Indian universities filing patent applications in bulk. But due to their low quality and inefficient evaluation, there is a possibility that most of them will not get granted and be of no commercial value.

The patents are filed to gain commercial benefit from the research. Improper infrastructure and processes can lead to unnecessary wastage of time and money by the system on the filed patent applications, which don’t even recoup the value of the paper on which they were written.

Universities leveraging the power of AI (Artificial Intelligence)

Interestingly, some of the top universities in India are now adopting AI technologies (XLSCOUT). XLSCOUT is democratizing innovation and providing easy access to AI technologies to all the researchers via libraries. They can use the AI platform themselves to compare their research to see whether it meets the three main criteria for getting a patent before approaching the IP department or attorney.

For filing a patent, it must be:

• Novel
• Non-Obvious, and
• Useful

AI (Artificial Intelligence) tools have now become a necessity to boost university commercialization. With the assistance of AI technology, researchers will be able to understand how their ideas differ from the millions of patents and research papers in space. Further, it can help them move forward in the patenting process with the best ideas. This will not only manage the internal resources and reduce external dependency but also develop a patenting mindset and culture in the universities. Thus, leading to the creation of “valuable IP.”

Many academic institutions, top, and visionary universities have adopted XLSCOUT Novelty Checker, which provides an easy-to-use platform. Here, one can enter their ideas and have those ideas compared against millions of patents and research publications instantly. It assists in conducting a novelty search to help you ensure that your innovation is unique. Additionally, it also generates a professional, automated novelty search report, which can be presented to the internal intellectual property department or hired attorneys in order to take ideas forward for the patenting process.

Where Novelty Checker helps:

• Students /Professors can themselves assess the patentability of their ideas.
• Triggers for Innovation: Generate New Ideas
• Automated Novelty Search Report: An Indicator of Your Idea’s Uniqueness
• Research alignment to industry and market requirements
• Patenting culture and democratization of innovation