Elute Intelligence Holdings (“Elute” or the “Company”) is to make patent searching quicker and easier with the commercial launch of a Patent Reader based on its novel software tools, which mimics the way people read, to intelligently search and compare unstructured text-based information.
The move follows a successful pilot with a dedicated user group comprising patent rich multi-nationals, high-tech SMEs and professional IP service providers, such as lawyers, established to support the Patent Reader’s development.
The Patent Reader allows users to identify relevant patents and understand why they are relevant within minutes of starting a search. Initially, they will be able to search from more than 70 million patents in major jurisdictions, including the United States, China, the European Union and worldwide.
It is one of many potential applications for Elute’s technology. The Company’s software searches, compares and analyses documents to identify similarities between them by mimicking the way people read. Users are able to enter existing patents, draft applications, research papers on topics of interest and identify relevant patents. This means the approach is very different to conventional keyword or Boolean search technologies. A patent application has been filed to protect developments of the technology.
Elute was incorporated last year from an existing UK business CFL Software Limited and included complementary intellectual property developed by Frontier IP. Existing customers include the Universities and Colleges Admissions Service (“UCAS”) which is using a version of the software called Copycatch to detect plagiarism in students’ personal statements. Others include academic institutions, commercial researchers and lawyers.
Peter Fischer, Chief Executive Officer of Elute Intelligence, said: “We believe that Patent Reader has the ability to profoundly change the way patent search is carried out with huge benefits to our customers. I would like to thank the user group for its support and feedback, which has proved invaluable in allowing us to refine the product.”
Matthew White, Chief Commercialisation Officer of Frontier IP Group, said: “We are delighted with the very rapid progress being made by Elute since we started working with them last year. The Company’s unique technology has a very broad range of applications. The Patent Reader is among the first products to take advantage of its immense potential.”