LACK OF IPR KNOWLEDGE

Epiphany creates ideas which in turn create product of great wonder to the mankind. The very concept of protecting the epiphany and hence the intellect behind it sounds a very good argument to pursue with. The very need to create laws around the same and support ingenious invention into affordable marketplace led to the creation of ever booking Intellectual Patent Rights (IPR) industry. The importance of IPR and its uses can be very nicely illustrated using an anecdote from the great Nikola Tesla’s life. Nikola Tesla across his entire life had more than 300 patents to his name related to electricity. His most important invention Alternating Current(AC) which is the main source of electricity in modern world was an idea and product he had developed. He had offered Westinghouse his patent for a royalty of $60,000(1890) of AC current produced. He would have been the richest man of planet by far even today had he continued with this offer. Westinghouse begged with him to reconsider on the payment and Tesla tore away the contract. Finally he died a broke and penniless. The importance to safeguard your invention while creating difference to the world is what IPR is all about.

Intellectual property rights in developed nations have reached high standards which India has yet to breach. We are still running around in the miasmic environment of not being able to implement highest standards accorded across the world. The number of patents filed by all research labs of India which includes 50 labs with IITs, NITs, CSIR, DRDO and ISRO is far less than that of one single American corporation Qualcomm. Total No of patents filed in India 2016-17 are 44,455 which comprise 71% filing by foreign inventors & India based MNCs. With make in India and considering India as a country with youth outnumbered, our economy is on the raise and so are inventions and innovations. In case of startups big fish eats small fish in the big chase for funding, and it’s the patenting rights that can save the idea and the creator, sadly not many think of patent outsourcing as important as filing for Register of Companies (ROC). Patenting rights keeps the innovator and his ideas live ahead of him/her.

Currently in India a lot of startup companies are not aware of the services provided by IPR and we actually don’t have much of a use case for the government to pursue its positive rhetoric on importance of IPR. There are various patent agents in India who can be reached out to understand the nuances of IPR and its implications in business. Only well informed few have understood the boon of patenting rights. Times of India reports that only 2.9 of 10 patents filed are done by Indians. Does that mean there are not many innovations worth applying a patent for in our country? Well, the simplest answer to this being Indians lack awareness in IPR and its benefits. There are multiple IPR services that cater to the demand of growth in industry. With consistent instability in IP rule-making added to the general unawareness towards IPR that Indian policymakers possess, they do not appreciate the importance that IPR provides in creating and nurturing competition which help the entire growth of economic engine. It is imperative that both lawmakers and business understand the importance of IPR and help create sustainable policy which propels growth across multiple sectors. Intellectual property firms exists where IP can be outsourced for patent drafting, patent filing. Patent search consultants can provide an array of help in cases of validity invalidity search and also suggest which India patent filing will be best .Intellectual Property covers multitude of verticals including trademarks, copyrights and patents among others. All of these have separate laws and needs to define specifically to ensure filing, prosecution and protection happens in the right manner.

Intellectual Property service provider helps to legally secure the tangible products and properties in the market. This legal protection can be exercised in many ways like trademark registration, copyright filings, patent drafting and illustration, logo copyrights, for which finding the right agent / practitioner is liking striking a gold ore. Patent services can be of use to anyone from education institution to startup or a well established company with R&D wing in the process of making new product line because innovation is everywhere. Dr. Pareshkumar C. Dave, founder of IP Moment says “There is slow realization of IPR in our country and the trends seems to be going upwards as per statistics but should not be curbed until the value of IPR is common knowledge. IPR training is one such effort by our firm trying to educate anyone who is interested Patent laws; this program is designed to fit employee in any organization type thus making it versatile for learning”.

Published on August 28 2018 .

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