AI is transforming intellectual property
“Where most patents could previously be safely disregarded, formerly forgotten patents now matter.”
“The vast majority of patents do not matter. They are almost never enforced or licensed and, in consequence, are almost always ignored. This is a well-accepted feature of the patent system and has a tremendous impact on patent policy. In particular, while there are many aspects of patent law that are potentially troubling—including grants of unmerited patents, high transaction costs in obtaining necessary patent licenses, and patents’ potential to block innovation and hinder economic growth—these problems may be insignificant in practice because patents are under-enforced and routinely infringed without consequence.
… the technological developments are greatly increasing the salience of patents by making patents easier and cheaper to find and enforce. These developments—including private platforms’ adjudication systems and AI-driven patent analytics—profoundly impact how the patent system functions and upend the system’s present dependence on under-enforcement and ignorance.”
The number of granted patents is exploding
Explosion of AI Related Patents
Future of Innovation Grows Increasingly Complex
Future of Innovation Grows Increasingly Complex
- Worldwide volume. Innovators filed about 3.55 million patent applications in 2023, a 2.7% increase over 2022. WIPO+1
- 2024 update. Preliminary WIPO data indicate 3.7 million applications in 2024, up 4.9% from 2023 – the fastest year-on-year growth since 2018 and the fifth consecutive year of rising filings.WIPO+1
- Regional share. Asia’s patent offices now receive roughly two-thirds of all patent applications (about 69% of patent grants and a similar share of applications), reflecting the dominance of China, Japan, and the Republic of Korea.WIPO+1
Future of Innovation Grows Increasingly Complex
Future of Innovation Grows Increasingly Complex
Future of Innovation Grows Increasingly Complex
2024: ~3.70 million applications, +4.9% YoY – the fastest growth since 2018 and the 5th consecutive year of increases (WIPO).
- Millions of patent holders globally need better patent analytics, better insights, better access and economics
- Patent filings at an all-time high, creating information overload
- 8,561,000 patents were granted over the past 5 years (est. average of 2.3 inventors per patent)
- Market for patent analytics projected to grow at ~12-15% CAGR
- Demand for trusted, expert-reviewed patent analysis and insights is increasing
Innovate with Confidence with IP Vectors
See What Our Clients Are Saying...
"With years of experience in the Smart Antenna industry and my involvement in securing over 20 patents, I know firsthand how time-consuming and complex it can be to manually search through patent databases. It’s all too easy to overlook important patents due to minor variations in language or technical descriptions. However, with IPVectors' IP Analysis Report, the level of accuracy I observed was impressive. The AI-driven algorithms identified patents that were not only highly relevant but also very close to the original claims I was investigating. This precision helped me quickly pinpoint patents that may infringe on my work." Jim Brennan, Distinguished Engineer and holder of 20+ patents.
