Why having patents is such a force in the emerging technologies space

In the present knowledge economy the management of knowledge resources is essential to change, adapt and seize new opportunities especially with new emerging technologies and delivery models at the forefront of new engagements.

With the proliferation of digital technologies a humongous number of startups are working grounds up in the technology and innovation space. Amid these startups upping the ante and building software products especially using emerging technologies for the nation and the world, one thing that they cannot do without is acquiring Intellectual Properties. Innovation backed by IP should be the pivot to remain competitive at home while expanding overseas. Having a patent is definitely a source of competitive advantage as they go on and try and build products and platforms at scale. This is because in a world of rapid change patents ensure that an emerging technology is not being walled off by others and the enterprise has the ability to deliver solutions in multiple new technologies. Having patents in emerging technologies is thus a source of competitive advantage especially as we transit to building and using products and platform on which we compose, design and implement differentiated customer solutions at scale. In a world of short product life cycles and constant change, patents ensure that an emerging technology is not being walled off by others and the organisation retain the ability to deliver solutions in multiple technologies.
The good news is that of late a lot of Indian technological companies big or small have stepped up filing patents as they build solutions and products in the emerging technologies and look to monetise their IP and grow their business faster especially in the offshore markets. According to WIPO and it should sound music to our ears that the center of gravity in intellectual property is shifting east with China, Japan, South Korea as the formidable players along with Israel and India emerging in the horizon.
For an innovative enterprise using emerging technologies in the digital platforms, the patent strategy should play a key factor in its business strategy. This is not an era where the importance of patents can be diminished but it will become an even more powerful tool for asserting supremacy.
To begin with the patenting process, a prior art search process needs to be initiated. CoE-IP offers a gamut of patent related services to its users including prior art search services absolutely free of cost. For more details please visit http://www.ict-ipr.in/

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