With TIP Tool’s version 2.0, also comes the intelligence that the tool provides. The tool provides information such as time to allowance, and predicted allowance rate that helps business owners take critical decisions and strategize accordingly.
Once a summary is entered into an idea form, the form starts showing details such as predicted patentability score (on a scale of 1-10), cost of obtaining a patent on an idea, number of argument rounds predicted, and the time required for the idea to get patented.
More the details added to the summary section, the more accurate the predictions get.
Similarly on the Portfolio Manager, corresponding to each application the case stats are predicted that include the cost, the chances of getting a patent, the time of allowance and the number of predicted argument rounds. These case stats can also be relatively compared with the corresponding patent counsel, examiner and art unit (technology domain the patent application falls under at the PTO). This information can then be used by the business owners to drive decisions and decide the next course of action together with their patent counsel.