Viewing DataNovo, Inc. - University of California 3rd Annual Pitch Competition

Alex Chan

Alumni of UC Davis - UC Davis, B.S. in Electrical Engineering (Undergraduate)

DataNovo, Inc.

*** Background *** Patent owners typically deferred to informal research to discover potential revenue-generating opportunities for their patent assets and identify joint partnerships in licensing activities. Businesses also relied on prior art search firms to find meaningful prior art in assessing patent validity or defending against patent infringement lawsuits. For law firms, consulting companies were retained to provide patent analytics as a way to complement their legal counseling on their clients’ patent valuation in an ever-competitive market. But timing constraint, financial burdens, and the lack of domain expertise have impeded patent owners, businesses, and law firms from achieving these objectives. In licensing, patented inventions could be commercialized and exploited but patent licensing activities remain low. Publicly available statistics show that less than 1% of patents issued every year in Europe and U.S. are licensed. This is substantially due to the patent owners lacking financial and human resources in reviewing technical products and identifying potential infringers and infringing products. For invalidity, businesses typically engage prior art search firms to conduct prior art searches in defending against patent infringement lawsuits. But prior art searches and their results are generally limited in scope because many sources from which potentially relevant technical and non-technical prior art can be found to invalidate patents are either inaccessible to the general public or unavailable online. This limited access to potential prior art has also led to patent owners launching litigation campaigns without any visibility on whether their patent assets would survive court scrutiny. For patent analytics, informatics analysis is instrumental in licensing and cross-licensing negotiations and patent acquisition. But such analysis is generally unavailable without engaging a consulting firm to conduct labor-intensive review that is often subjective in nature and seldom offers an objective aspect that is often critical to expectations on licensing deal terms and conditions. *** Entrepreneurship Activity *** DataNovo offers insider intelligence on helping patent owners identify potential infringers and infringing products for their patent assets, provides businesses with domestic and foreign prior art, and furnishes stakeholders with informatics analytics on every patent, all within fingertips. The DataNovo platform leverages on artificial intelligence (“AI”), machine learning (“ML”), and natural language processing (“NLP”) to conduct data mining and analysis and to learn and understand more than 6 million patents on a textual and contextual bases as well as more than 20 million technical and non-technical documents covering a wide range of commercial goods and products. This “relationship” mapping is then used to: (1) map patents to commercial goods intelligently with high accuracy to identify potential infringers and infringing products; (2) to classify technical and non-technical documents for identifying the most relevant prior art against every patent; and (3) develop and deploy statistical and mathematical models for the most important analytics that offer a comprehensive insight on the every strength and weakness of each patent. For licensing, with a single key stroke, DataNovo’s SaaS platform allows patent owners to identify potential infringers and infringing products to every patent as a practical way to advance monetization efforts and secure licensing opportunities. For automated prior art searches, with a single patent number (instead of keywords), DataNovo offers users the most relevant, never-cited prior art against that patent instantaneously. Companies are also able to check if their new product infringes on any existing patent through describing the product in as little as six words. For patent analytics, which are suited for those challenging or defending patent lawsuits, advancing licensing deals, investing in patent acquisition, or structuring M&A transactions, DataNovo helps facilitate real-world settlement, licensing, and purchase negotiations by offering crucial analytics such as validity prediction to predict patent validity, topology identification to identify valuation patents for acquisition, and patent landscape to identify freedom of operation for innovative companies launching new products. Using proprietary technology that leverages on AI, ML, and NLP, DataNovo aims to help patent owners, innovative companies, and stakeholders obtain the most critical intelligence at half the traditional transactional cost but at twice the conventional speed. With DataNovo, its subscribers are able to obtain stronger, more defensible patents, launch or defend patent lawsuits, assess critical licensing information, and make informed business and strategic decisions throughout a company’s​ life cycle.

Primary Industry Sector: Software and Services
Funding Status: Seed

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