THE IMPORTANCE OF PATENT FILLING
Sustained economic growth over more than a decade has raised visions of India becoming one of the largest and most important economies in the world. The outsourcing of important business activities such as software development to India has also brought up the possibility of India becoming one of the leading countries in knowledge-based industries. It is widely recognized that innovation plays a critical role in leadership in such industries. The innovation should be protected or should be safe so that others cannot copy it. Patent is one such protection that makes your innovation safer.
The Indian IP scenario has undergone huge transformation over the last three decades. Though the IPR regime in the country is far weaker than desired, it’s evolving and awareness among Indian enterprises is increasing. Now realizing the importance of patenting, companies are creating culture of innovation. Indian software services companies are of acquiring patents on the innovative products and technologies. For example, product companies like Ramco, TCS, Infosys, i-flex, Sasken, and Subex are nurturing and building strong IP cultures. Infosys, for instance, has been the leaderin filling patents over a decade .
Infosys recently announced Results for the fourth quarter on March 31, 2012.During the fourth quarter, Infosys applied for 38 unique patent applications in India and the U.S. With this, Infosys has an aggregate of 474 unique patent applications (pending) in India, the U.S. and other jurisdictions, and has been granted 47 patents by the United States Patent and Trademark Office and 1 patent by Luxembourg patent office.
Infosys have filled 205 patents in India and 45 patents in U.S.A. The number of patents filled has increased every year. Infosys is working on the intellectual based strategies. Firstly the companies like Infosys are working to improve the quality and productivity of their services across and also using intellectual assets and intellectual property to create new products. The companies are also identifying specific areas by landscape analysis where they want to invest and develop technologies. Strong IP strategies are developed for licensing the patents to big companies. Companies are also looking for partnerships with those having intellectual property and make new offerings in the commercial market.
As it takes at least three to five years to get a patent granted from the date of filing, a large number of the filed applications of Infosys are probably close to being granted, which will see a dramatic increase in the number of patents granted to the company.
Indian IT companies – Infosys, TCS,Wipro, Mahindra Satyam, and HCL – have filed higher number of patents this year in U.S. and Europe. However, the number of patents filed is still limited and needs to accelerate.
Indian IT companies have to still learn a lot from U.S based companies. For example if we look at the companies like IBM they had run their intellectual property as profit centre. On the other hand recently AOL sold 800 patents for 1 billion dollar. Hence we conclude by saying that to become global players the companies should have strong IP strategies and IP portfolio.