Legal tech startups have been making significant strides in the legal industry, providing innovative solutions to streamline manual workflows for lawyers. One such startup that is making waves in the field of intellectual property (IP) is Solve Intelligence. This Delaware-based company has developed AI software specifically designed to assist patent attorneys in drafting patents for IP analysis and generation.
Key Takeaway:
Solve Intelligence, a legal tech startup, has raised $3 million in funding to support the development of its AI software for patent drafting. The company aims to revolutionize the way patent attorneys write and review patents with the help of its AI-powered document editor.
Combining AI and Legal Expertise
Co-founded by Sanj Ahilan, Chris Parsonson, and Angus Parsonson, Solve Intelligence aims to bridge the gap between technology and patent law. The founders, who hold PhDs in artificial intelligence and have experienced the challenges of obtaining patents firsthand, recognized the need for specialized software for patent attorneys. They launched Solve Intelligence in June 2023 and released their product in July.
According to Chris Parsonson, CEO of Solve Intelligence, drafting a patent requires a unique combination of deep technical knowledge and legal expertise. Unlike other legal professionals, patent attorneys spend years acquiring technical expertise in STEM fields before gaining legal qualifications. As a result, the algorithms and AI systems needed to write and review patents differ from those used in other areas of legal tech.
Revolutionizing Patent Drafting with AI
Solve Intelligence’s flagship product is an in-browser document editor powered by an AI copilot. Similar to Google Docs, this software helps patent attorneys with intellectual property generation by automatically identifying and ranking novel and non-obvious steps in the R&D process. By leveraging AI technology, Solve’s software can significantly improve the efficiency of the patent drafting process.
Solve Intelligence’s AI-powered software also assists with patent portfolio infringement litigation after the patent is drafted. The startup has already gained traction in the market, with over 25 IP firms across the U.S., Europe, Asia, and South America using its product. Many of these firms have reported efficiency improvements ranging from 60% to 90%.
Confidentiality Concerns and Future Outlook
Despite the numerous benefits offered by Solve Intelligence’s AI software, some potential users, particularly attorneys, have expressed concerns about confidentiality. The startup, however, assures users that all data is stored securely on enterprise AWS servers and emphasizes the encryption of both transit and stored data.
Solve Intelligence believes that as people gain a greater understanding of AI, concerns about confidentiality will diminish. The company does not train its AI models on clients’ data and instead relies on proprietary models and algorithms specialized for patent drafting and IP analysis. Solve is committed to obtaining patents for these methods and has been collaborating with its IP firm clients to enhance its AI product.
The startup is optimistic about the future of AI in the legal industry and believes that within the next five years, every legal professional will be utilizing AI on a daily basis. By continuously iterating its product and incorporating feedback from users, Solve Intelligence aims to stay ahead of its competitors and build a product that truly meets the needs of legal professionals.
As Solve Intelligence continues to scale its operations and invest in research and development, the company plans to introduce new features in the coming months. These include algorithms and processes for analyzing technical drawings, enhancing patent quality, customizing AI drafting styles, and more.
With its innovative AI technology, Solve Intelligence is revolutionizing the patent drafting process, offering patent attorneys a powerful tool to increase efficiency and accuracy. As the legal tech landscape continues to evolve, Solve Intelligence is poised to be a key player in bringing automation and efficiency to the world of intellectual property law.
