System for Search and Customized Information Updating of New Patents and Research, and Evaluation of New Research Projects' and Current Patents' Potential

The embodiments herein relate to intellectual property management and, more particularly, to a tool for searching and evaluating relative commercial potential of an invention. A user may select any of the services such as search, draft, innovation evaluation, commercial potential evaluation and so on. A search tool automatically generates a key string based on user inputs, searches in associated databases, organizes search results and delivers to the user. The keywords are improved or modified automatically by the search tool so as to improve subsequent search results. The keywords are improved by considering parameters such as field of search, search history of the user and so on. Further, new keywords are added to a dictionary so as to improve search strings each time. Drafting tools may be used to draft patent applications in specific format. Further, a research commercialization evaluator is used to analyze commercial potential of an invention.