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Like a wildfire, Intellectual Property (IP) has touched every aspect of mankind’s dependencies, necessities, dreams, desires and luxuries. IP has raised the bar for innovation and research. Every now and then we hear a buzz of companies for dragging one another in IP lawsuits.
Not just patents but other aspects of IP like trademarks, trade secrets, copyrights etc. could turn things around, and for a smooth sailing of a technology organization, a strong IP is like Captain America’s shield.
Passing decades, we witness the use of IP in full swing by companies, bubbling novel ideas cornering the market and many brands go down the drain because the vision of these so called brands doesn’t have IP in the driver’s seat. In a nutshell, it is out in the open that IP should be the center of gravity for keeping any technology organization ahead of the pack – more so for companies operating in industries like Automobile and IT(Information Technology).
Big picture shows us a cut throat competition in every domain, and tech experts will nod along the fact that nowadays IT is like the air we breathe, there’s neither any escape nor any existential ease without it. When such a vast and versatile domain is acquainted with the bells and whistles of IP, the outcomes swing both ways – it can tie the hands of innovation, or be a fertile lush green meadow for it.
For this to go in heaven’s favor we need to identify roadmap identifying the trends and scope in the industry that could serve as guidelines. Guidelines for patents may vary in different geographies in light of some aspects but the objective remains same. Controller General of Patents, Designs and Trademarks (CGPDTM) in India has done several amendments and has fast tracked the IP proceedings to encourage inventors, entrepreneurs and organizations to file patents.
According to our research, during the last decade top 10 ornate IT firms dealing with software services in India like TCS, Wipro, Infosys contributed approximately 22,433 patents. With digitalization modern technologies growing off the ground, Industries involving computer and peripheral equipment,communication equipment and general purpose machineries catered a tsunami of patent filings in India.
Dilemma is that we don’t see much dealingin manufacturing industry for the required infrastructure. Here lies the pain of Indian economy where the struggle is that India is identified as a market by MNCs but not as a manufacturer.
While manufacturing is on the table, India is ranked the second fastest growing country with regards to automotive vehicle manufacturing. Research says India produced around 5 million automotive vehicles in 2018 making it the 4th largest automotive manufacturer in the world.
Having said that,trends show that there 42,408 patents were filed by the sector in the last decadeby companies like Honda, Robert Bosch, TVS, Suzuki etc. Trends suggest the major contribution in patent zone involves domains of Transport of motor vehicles and the least protected industry is the industry dealing with mechanical elements, pumps, turbines etc. for automotive industries.
IT firms and automotive industry in India need to take this bull by horns, and skillfully address the areas for research, and develop a roadmap based on strong analytics to develop commercially valuable IP. With the blowing air of technologies like 5G, IOT, vehicle to vehicle communications etc. – tree of IP is budded with possibilities and whoever blossoms first will be recognized as the fragrance of innovation.
Article contributed by Mr Amit Aggarwal is the Co-Founder and Director of Effectual Services – Advisory firm that offers IP support solutions to Fortune 500 companies