Source: Tech Crunch by Kate Park
Solve Intelligence, a Delaware-based legal tech startup, has raised $3 million in funding from investors, including Y Combinator, Amino Capital, General Advance, SAV, Translink Capital and Nomad Capital.
Chief research officer of Solve Sanj Ahilan and CEO of Solve Chris Parsonson both completed PhDs in artificial intelligence at University College London and experienced the time and cost difficulties of getting a patent while working at tech companies such as Huawei and Dyson. Chris also heard from his patent attorney girlfriend that there’s a lack of software available for patent attorneys beyond Microsoft Word.
Ahilan, Parsonson and Angus Parsonson (chief technology officer of Solve Intelligence) founded Solve Intelligence in June 2023 and launched its product in July.
“Patents are fundamentally different from other areas of legal tech because they intersect both technology and patent law,” Chris Parsonson said, adding that drafting a patent requires combining deep technical addition to legal expertise.
“Unlike other legal professionals, many patent attorneys never go to court or review contracts. Instead, they first gain deep technical expertise in a STEM field through an undergraduate, master’s and often a PhD program,” the CEO continued. “They train for years to pass the bar, after which they can become fully qualified patent attorneys. As such, the algorithms and AI systems needed to write and review patents differ from those needed for equivalent tasks in other areas of legal tech.”
Solve’s product, an in-browser document editor that works like Google Docs but under the hood, is powered by an AI copilot to help attorneys with intellectual property generation. Its AI solution can identify novelty and non-obviousness and help the R&D process. Each approved patent defines what is “novel” and “non-obvious” about a new technology over all other technologies in the public domain, Parsonson said.
The startup believes every legal professional will use AI daily within the next five years. “The winners will be those who rapidly iterate their product to something genuinely helpful for legal professionals. That’s why we’ve formed a lean, highly technical team of AI PhDs and software dev experts capable of building the features our users want faster than our competitors,” the CEO said.
Read full article: https://techcrunch.com/2023/11/28/solve-intelligences-ai-solution-helps-attorneys-draft-patents-for-ip-analysis-and-generation/
