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Clarivate Launches AI-Powered Tool to Simplify IP Budgets and Forecasts

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Clarivate Plc launches Forecast, an AI-driven tool for IP cost forecasting and budgeting. It provides IP professionals with predictive budget forecasting capabilities and integrates with IPfolio. Forecast aims to optimize IP portfolios and strategy, automating the process for faster budget approvals.
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  • Clarivate's Forecast tool offers IP professionals predictive budget forecasting capabilities, optimizing IP portfolios and strategy.
  • Integration with IPfolio simplifies the process and enables faster budget approvals.
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New tool tracks and predicts IP costs more accurately and efficiently

LONDON, Sept. 20, 2023 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a global leader in connecting people and organizations to intelligence they can trust to transform their world, today launched Forecast, the next generation artificial intelligence (AI)-driven solution designed to enable intellectual property (IP) professionals worldwide to confidently and efficiently optimize their IP portfolios and strategy.

Forecast is an IP cost forecasting and budgeting tool that gives IP professionals powerful capabilities for predictive budget forecasting, and which is fully integrated with IPfolio, a leading IP management system. This automates and simplifies the process to enable faster budget approvals.

In today's knowledge-based economy, innovation is a core driver of business growth and competitive advantage. Corporate value is increasingly vested in intangible assets, including IP. This is driving a dramatic expansion in IP portfolios, with the attendant costs of securing, maintaining and protecting patent and trademark rights in a global marketplace also increasing.

Gordon Samson, President, Intellectual Property, Clarivate, said: "Managing IP as a strategic asset and as a major cost center is an issue of increasing importance, from corporate legal departments to the C-suite, and it requires careful financial management."

"With empowering IP professionals at the center of our strategy, Clarivate is utilizing AI technology and proprietary best-in-class data assets to launch Forecast, and provide IP professionals with new powerful capabilities for predictive budget forecasting. Our continued investment in AI demonstrates our commitment to bring clarity to the complex and support IP professionals in a rapidly changing environment."

Powered by predictive AI, Forecast provides IP professionals with the ability to track and predict IP costs across the entire portfolio more accurately and efficiently. It can create budget scenarios to make smarter filing and maintenance decisions, and generate real-time reports and dashboards to collaborate seamlessly with stakeholders and achieve faster approvals.

Clarivate also recently launched the Brand Landscape Analyzer and announced the development of the Trademark Watch Analyzer. These tools leverage AI on rich proprietary content and are trained by Clarivate internal search experts to analyze and deliver insights from more than 140 million trademark records and over 6.2 million trademark office and court decisions.

To learn more about Clarivate Forecast, visit here.

About Clarivate

Clarivate™ is a leading global information services provider. We connect people and organizations to intelligence they can trust to transform their perspective, their work and our world. Our subscription and technology-based solutions are coupled with deep domain expertise and cover the areas of Academia & Government, Life Sciences & Healthcare and Intellectual Property. For more information, please visit www.clarivate.com.

Media contacts

Sofía Nogués
Sr. External Communications Manager, Clarivate
newsroom@clarivate.com 

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SOURCE Clarivate Plc

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About CLVT

clarivate analytics is the global leader in providing trusted insights and analytics to accelerate the pace of innovation. we offer some of the most trusted brands across the innovation lifecycle, including web of science™, cortellis™, derwent™, compumark™, markmonitor® and techstreet™. organizations and researchers rely on the curated knowledge bases from clarivate for information about scientific and academic research, patent analytics, pharmaceutical and biotech intelligence and ip management. an independent company with over 4,000 employees and operations in more than 100 countries, clarivate is on a bold entrepreneurial mission to help radically reduce the time from new ideas to life-changing innovations. for more information, please visit clarivate.com.