India is a country booming in the field of Technology and with the competition getting higher every company has gone a step higher in filing patents. Every IT company is upto filing patents for the solutions that are built and the products that are manufactured. Patent filing in India is important so as to grow the business in a faster way and ease ahead of all their competitions. Digitalisation and its technologies have been expanding through all fronts in industries and that is the vital reason for companies to rush into creating their IP.
Companies Perspective on Patent Filing in India
Every passing year has seen a huge jump when it comes to Patent Filing in India. A company like Wipro has seen a massive hike in their number of patent filings since 2012. It has risen from 221 to 2200 by the year 2019. Technology sees a huge endurance through its rapidness in growth factor and every patent taken ensures that a company like Wipro will be able to deliver the required solutions across the multi-technological front. This kind of accessibility to newer technology is not being ruled out by various other competitors by achieving patents for their products and solutions. Getting more number of patents for all the technological development seems to be a way of having bigger competitive gains. Notably the forums and products that are designed, manufactured and applied, have brought a major difference to consumers having solutions on a larger-scale.
Same goes for top companies like Tata Consultancy Services. Patent Filing in Indiaby TCS touched 4596 in 2019 from that of 1746 in the year 2014. TCS goes a long way back to 1981, when it comes to creation of IP with a facility that dealt with research and technology. Innovation in a very systematic manner was the main source of approach, that let smart individuals master IP creation. This company is very well-known for their 3P strategy – Patent, Product, Platform, that looks into transforming innovations into judicious results. The 3P strategy not only helped put innovations into action but also help monetise the same.
Effect of Patent Filing in India for Smaller Businesses
Companies like Zensar, a small technology firm, creates IP keeping them as the most important portion while focusing on Artificial Intelligence. It is to be understood that creating IP, also gives a great lead for technological industry, whether big or small have a competitive advantage. Similar company like Tech Mahindra also says that the creation of intellectual property does not only serve as a competitive advantage after registering for Patent Filing in India but also increases revenue over a period of years helping boost every worker’s confidence.
Every IP that is created is well researched and developed by a group of employees who work immensely towards picking on the blanks and achieving a landmark resolution that will aid a wide-spread range of consumers. Businesses all around the world have always come to access the mind of tech talents in India, which is now shifting to a greater level of development and providing value-adds.
The year 2018 saw 800 plus patents being distributed by a company called India Labs covering a diverse fields of AI, research in agricultural side, blockchain, delivering good service, etc. With joint and well-structured efforts, Patent Filing in Indiahave taken a significant growth among many industries and organisations.
India’s role in International Patent Filing
number of Patent Filing in India by Innovators and R&D companies has seen a
humongous rise between 2018-19. Chinese innovative enterprises have filed for
International patents almost equal to 48000 as this year. World Intellectual
Property Organisation (WIPO) has recorded that India has had the highest growth
of 27% when it comes to International patent filing but still much lower when
compared to countries like the US and China when it comes to the number of
patents filed. Indian innovators and researchers have filed about 1583 patents
India is one of the best and active competitors when out comes to International Patent Filing in the recent years, says the Director of WIPO. With US and China in the lead, India has a long way to go to become the principal hub for International Innovations. Patent Filing gives the innovator the rights exclusiveness and aids the country in measuring the Science and Technological Developments all over India. India has been showcasing a massive growth when it comes to Patent Filing in Indiaand Internationally through WIPO.