PatSnap targets patent business market

PatSnap processes millions of patents each week and its co-founder Jeffrey Tiong said his dream was to make Patsnap like Amazon.

Mr Tiong said :-“This is a faster growing market estimated to be at least seven to eight times larger than the traditional patent search market used by patent lawyers and patent engineers……………………every country is promoting a knowledge economy. For this to happen, there must be innovation. We want to accelerate innovation by hooking up inventors, investors and organisations together,”

It certainly looks like the future….”Maybe they can find technologies they can license or firms they can acquire. This accelerates the innovation process. My hope is that SMEs here can also use the service to look for patents they can license so as to grow faster.”

A subscription to PatSnap’s service starts from $5,000.

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