Display Social Completes Acquisition of Patent & IP from LookWithUs

Display Social Inc. (an online social media and networking service, widely known as ‘Social That Pays’) has recently announced its acquisition of a patent from LookWithUs (a Los-Angeles based powerful platform that specializes in combining collaborations and social communications for the digital content). The Intellectual Property (IP) owned by LookWithUs covers collaboration on any digital object out there and enables the integration of rich media that could be text, voice, images, video, files, documents, hyperlinks, and so on.

LookWithUs was founded by a talented team of media and tech experts. The company wanted to discover a modern, web-enabled, and social communication platform that would go beyond the limited collaboration systems and reflect the way using which people interact, communicate, and collaborate with others in their day-to-day lives. The robust software architecture and IP, which now belongs to the portfolio of Display Social, presents a complete suite of new tools for creators and developers on the app. It would allow them to embed and share collaborations across the globe via the Display Social platform and the much expected and awaited Display metaverse.

The Co-Founder and Chief Executive Officer at Display Social, John Acunto, said in a recent statement delivered that the company is unlocking the enormous power of collaboration and introducing a fundamental transformation in the way people usually communicate, share content with others, and create value. He further mentioned that it is a critically important step in their shared journey to a brand new form of social commerce using which influencers and innovators belonging to different levels of the economy can extract benefits directly from their energy, passion, and creativity, which is undoubtedly exciting and thrilling.

The CEO at LookWithUs, Mark Smith, said they had been looking for a company with an objective and roadmap that matched their own and provided the next-generation platform to deliver that objective – and they found it in Display Social. He further stated that the company is elated to join an incredible team of innovators at Display Social that would leverage and scale their technology. LookWithUs is immensely proud today to see their powerful IP and other tools integrated throughout the Display Social platform.

The metaverse capabilities will certainly prove to be a success story for Display Social as it would enable brands and creators alike to interact well with one another. The IP offers the tools that help marketers and creators in generating virtual microsites and distributing them all over the internet by using simple hyperlinks. The same could then be embedded in websites, used on different social media platforms, implemented via email campaigns for blogs, coupons, NFTs, shopping links, and even other areas of the metaverse itself; thereby, allowing Display Social to play an integral part in everyone’s digital journey.

In the present era, content creators increasingly expect social media networks to treat them fairly and impartially – for which Display Social differentiates itself from others in the industry by rewarding creators as per their advertising and affiliate revenue. It empowers creators with build-in tools to enhance the creative processes, which, in turn, helps them grow their audience and engage well with them. For more visit: https://www.trademarkmaldives.com

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Intellectual Property Filings Improve Globally Despite Covid-19 Pandemic

At the global level, Intellectual Property (IP) filings, including trademarks, patents, and industrial designs, rebounded last year (as per the latest data presented by the World Intellectual Property Organization (WIPO), thereby indicating the resilience of human innovation and creation despite the Covid-19 pandemic.

On the contrary, the filing activity of both patent and Trademark Applications during the Global Financial Crisis of 2008-2009 (the Great Recession) had contracted sharply.

As per the World Intellectual Property Indicators report (compiling new data from 150 national and regional authorities), the trademark filing activity rose by 13.7% globally, patents by 1.6%, and industrial designs by 2%.

India has shown a pretty decent improvement in filings related to IP, with higher applications in trademarks (over 15%) and patents (10%), specifically driven by the ones filed in the pharmaceutical sector in 2020.

In 2020, the IP Office in China recorded the highest number of trademark applications. Also, India left behind Japan to secure the 5th position in terms of trademark filing activity.

The ultimate factor influencing such strong growth in the global trademark filing activity is the robust growth in products and services related to pharmaceuticals, surgical, dental, and medical goods, and advertising and business management.

Concerning pharmaceuticals, the number of filings increased from 4.1% in 2019 to 4.6% in 2020, while those of surgical, medical, and dental goods increased from 1.5% to 2.3%. Such trends were mirrored by some nations that saw significant increases in their respective trademark filing activities. For instance, India’s near about 15.4% growth in its trademark filing activity was driven majorly by the applications filed in the pharmaceutical sXctor.

Furthermore, global patent filing activity returned to growth last year after experiencing the first dip in a decade in 2019 due to a decline in China. In 2020, the IP office in China reported 1.5 million Patent Applications, followed by the United States, Japan, the Republic of Korea, and the European Patent Office (EPO). These five offices, together, accounted for 85.1% of the patent applications filed throughout the world.

Among the top ten IP offices, only three nations, including the Republic of Korea (3.6%), India (5.9%), and China (6.9%), recorded growth in the applications filed in 2020.

The Director-General at WIPO, Daren Tang, expressed his views on the strong growth in trademark filings (in particular) in 2020. He said that the double-digit growth in the trademark filing activity shows how enterprises worldwide have brought new products and services to the market despite the massive economic shook.

It is interesting to note that IP’s center of gravity has now shifted to Asia, considering the number of applications filed from the region as per the latest data recorded by WIPO. A decade ago, half of the overall ten IP-related applications were filed in Asia, and, in 2020, this number went close to seven. For more visit: https://www.trademarkmaldives.com

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South Africa & India Ask EU to Break Silence on the TRIPS Waiver for Covid-19 Vaccines

After several weeks of deadlock, South Africa and India have asked the European Union (EU) to put forward a clear solution and break silence on the TRIPS waiver for Covid-19 vaccines and drugs instead of only blocking the proposal that looks forward to ensuring that people in developing and poor nations are protected from the pandemic.

According to the Indian officials, in recent weeks, the EU has come to the negotiating table to work on a possible way out with various sources in Geneva, hinting that the trading bloc might come around to agreeing to limit the flexibility to patent waiver only for Covid-19 vaccines.

To date, the proposal put forward by India and South Africa has been backed by more than 100 members of the World Trade Organization (WTO). It looks forward to providing copyright, patent, and other Intellectual Property Rights (IPRs) waivers for vaccines, medical devices, and therapeutics.

As of now, the EU has recommended that the vaccine manufacturers who can and are ready to produce the Covid-19 vaccination shots may start producing them without worrying about obtaining Patent Protection.

The WTO secretariat is eager to find an adequate solution way ahead of this month’s ministerial meeting in Geneva, although the details are very much unlikely to be finalized in the coming three weeks. Ngozi Okonjo-Iweala, the Chief at WTO, is eager to deliver a trade and health package at the ministerial meeting and is looking forward to receiving support from different countries, including India, to back the fisheries agreement in return.

The EU, Japan, Switzerland, and the UK are the only nations opposing the proposal and are not even willing to discuss the draft floated by South Africa and India. Also, within the EU, only a handful of nations like Germany are opposing the proposal.

Even though South Africa has its ‘vaccine hub,’ it doesn’t seem to have extracted many benefits from it, keeping aside the mRNA facility fulfilling the requirements of other African nations.

India, on its part, is keen to find a solution to the vaccination issue at the earliest though many officials have claimed that ratcheting up the demand has implied that developed nations, at the minimum, stop blocking the supply of the key inputs and look forward to addressing the major vaccine inequality. Furthermore, India has also got the EU to suggest using the route of compulsory licensing, which enables opting for the patent waiver in the case of national emergencies; and this is something that the developed nations had always opposed.

As per the Government sources, multiple options are being looked at by various developing nations, and some of them may go ahead with the compulsory licensing route. For more visit: https://www.trademarkmaldives.com

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