Innovation and intellectual property (IP) are cornerstones of economic growth and prosperity. In 2022, the World Intellectual Property Organization (WIPO) shared that frontier technologies alone currently represent a \$350-billion market with the potential to grow to a $3.2-trillion market as soon as 2025.
A recent study from the United States Patent & Trademark Office (USPTO) found that IP-intensive industries account for over 41% of US GDP and employ 33% of the American workforce. Furthermore, workers in IP-intensive industries tend to be more likely to earn higher wages and more likely participate in employer-sponsored health insurance and retirement plans. Everyone, even non-creators, stands to benefit from strong IP rights. Therefore, supporting innovation is more important than ever.
The foundation of innovation is the infrastructure established by lawmakers, lawyers, and IP professionals who create a safe and fair playground for creators to innovate and reap the benefits of their creations. By equipping this infrastructure with the tools they need to work smarter and make better-informed decisions, Huski.ai contributes to a virtuous cycle of improvement that stands to benefit all members of society.
However, IP attorneys face challenges in delivering high-quality services at affordable rates. For example, a comprehensive search known as a “clearance search” is an essential task prior to filing an application for the federal registration of a trademark. Attorneys run these searches to reduce the risk of their clients’ registration being refused because a similar trademark already exists. A proper search can save clients thousands of dollars and months of time, making it a vital service. However, at an average cost of $614 per search from existing service providers, these requisite searches can be exorbitantly expensive for both lawyers and their clients.
Huski.ai was founded with the belief that leveraging the latest advancements in AI and machine learning could make the costs of this type of research significantly less expensive and provide better results, saving time and money for all players in the innovation ecosystem.
Advancements in AI subfields like image recognition allow attorneys using Huski.ai to provide their clients with better results with far less effort. For example, with just a few clicks, attorneys can be warned of anyone trying to register a trademark or sell goods using a logo substantially similar to their clients’ brand image.
Huski.ai’s advancements in AI have also made harvesting and aggregating informative trademark data less expensive, and these reduced labor costs allow the solutions to be sold to law firms at substantially lower costs compared to other providers. Providing legal professionals with higher quality and less expensive solutions allows them to serve their clients at lower costs, which makes legal counsel more accessible to more people – especially to those who come from historically underserved communities.
With their IP rights secured and enforceable, all creators will be motivated to continue to pursue new projects and secure their IP rights for those new creations, which will continue to spur further innovation from which everyone can benefit.