PECM Issue 43 2020 | Page 168

SOFTWARE & SYSTEMS RESEARCH AND DEVELOPMENT MINESOFT Why are patents important for R&D? Patents allow businesses to maintain a period of monopoly on their innovations and inventors to receive recognition for their work. However, for a patent to be granted, it usually requires reviewing a huge amount of data which can be thousands of pages of drawings and text, some of which may be written in foreign languages. supports over 19 million compounds and understands Chinese, Japanese, Korean, French and German chemical nomenclature. Organisations from various industry verticals such as chemistry, pharmaceutical, engineering and electronics are among Minesoft’s existing customer base. The wide variety of users of PatBase is a testament to the indisputable value of patent information in business today. Whether you are part of a multi-national corporation, an SME or an academic institution, patent data can be used to inform business decisions, guide R&D strategy and inspire further innovation. A searchable patent database like PatBase, containing machine translated non-Latin text, enables R&D teams to easily search for information related to their area of development and view and share an accurate global landscape analysis. This prevents wasted time and energy on redundant work. PatBase, released in 2003, is a collaboratively built solution by Minesoft and RWS to provide users with a one-stop- shop for high quality and routinely updated patent data. With data available from 106 jurisdictions around the world, PatBase provides one of most comprehensive and high-quality collections of patent data in the industry. Minesoft’s team of in-house experts work with patent specialists in large companies around the world to regularly optimise the platform. Identify whitespaces and avoid overcrowded areas. For example, this landscape shows the top technology areas in 2017. PatBase coupled with additional solutions built in-house, such as PatBase Analytics V2 (included in PatBase, and fully compatible with PatBase Express) assist users in performing intuitive searches and to graphically illustrate data for further analyses which can help businesses make better informed strategic decisions. This information can also be used to identify sources of threat in the industry, like competitors infringing on protected IP, or to discover licensing opportunities. Another intuitive solution is Minesoft’s Chemical Explorer, which is ideal for searching for and extracting vital chemical information from patents. Working in conjunction with PatBase, Chemical Explorer has a full chemical structure drawing capability and the ability to import/export chemical structures. Flexible search options include the ability to search by identity, similarity or substructure. Chemical Explorer Citation networks can be used to identify competitors’ moving into your space or to spot hot technology areas To find out more, please visit www.minesoft.com 168 PECM Issue 43