China to Reinforce Protection for Intellectual Property Rights

The Chinese government, through the medium of a document it issued earlier this week, has revealed its desire to improve the protection of Intellectual Property Rights (IPRs), an issue reflecting at the center of trade matters with the United States (US).

The document launched recently is a joint directive by the General Offices of the Communist Party of China Central Committee and the Chinese State Council, aimed at strengthening the protection of Chinese IPRs between accusations from the US stating that China has stolen the American IP.  The directive laid out China’s goal of reinforcing IPRs protection over the next two years by raising the upper limits for compensation related to the infringement of such rights.

According to the excerpts provided by the Chinese State Council, the directive reads that increasing IPRs protection is one of the most significant ways to improve the IPR system and to boost up the economic competitiveness of China. The new guidelines also revealed that China would multiply its efforts to enhance international cooperation on the protection of IPR, promote communication between foreign and domestic rights holders, and provide support in overseas IPR disputes.

The document also discussed China’s plan to increase the protection of trade secrets, confidential business data, and source codes and speed up the procedure to introduce a punitive compensation system for violation of patents, copyrights, or other IPRs.

The measures came after considering that the disputes over the theft of Intellectual Property (IP) have roiled the trade negotiations amid the world’s two largest economies, i.e., the U.S. and China scramble to reach phase-one of a trade deal.  The development came as investors have been scaling back their hopes for a phase-one agreement amid Beijing and Washington before the end of this year, i.e., 2019. This sort of deal was expected to provide the stage for dealing with chief concerns like a complaint made by the U.S against China, alleging that China steals intellectual property.

In an investigation made by the Office of the U.S. Trade Representative last year, it was found that the intellectual-property theft by China compels the U.S to face a loss between $225 billion and $600 billion a year.

Ultimately, the document claimed that by 2022, China would be making progress in matters that have affected IPRs enforcement, like high costs, low compensation, and the difficulty of proof. And also that by 2025, the nation would have implemented an upgraded system of IPR protection. For more visit: https://www.trademarkmaldives.com

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Intellectual Property Law in Bangladesh

The term Intellectual Property (IP) denotes the human mind’s creations that include literary and artistic works, symbols, names, inventions, etc., used in commercial ventures. With the rapid expansion of the global economy, Intellectual Property Law in Bangladesh, along with the corresponding rights, has become an absolute asset to the overall development of the country. In general, IP is protected by patents, geographical indications, trademarks, industrial designs, and more that enable people to earn recognition and benefits from what they have created or invented. IP Law in Bangladesh or any other nation aims to develop an environment that can ensure the right balance amid the interests of inventors and the public.

IP Law and Rights in Bangladesh

Due to the effect of globalization, Intellectual Property Rights in Bangladesh is an international concern. As per some reports, Bangladesh had participated in the Paris Convention in 1991 and the Berne Convention in 1999 for the Protection of Industrial Property and Literary and Artistic Works, respectively. Moreover, the nation is a signatory of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement. Following the legal battle settlement system provided by the World Trade Organization (WTO), the TRIPS has set comprehensive, universal, and mandatory standards for almost every country. Besides, considering that the IP Protection in Bangladesh is a hostile issue for things like life-saving drugs, technological inventions, etc., the WTO has provided some exemption. It has provided the LDCs such as Bangladesh with the freedom to implement provisions mentioned in the TRIPS agreement related to pharmaceuticals until 2033. Like many other LDCs, Bangladesh is also exercising and having benefits of the extended transition period to bring itself into compliance with TRIPS regulations.

IP Law and rights associated with it have a noteworthy significance and remarkable implications in Bangladesh. The significant impacts of these legal assets in this nation can be determined by the following viewpoints:

Economic: As the potential benefits have long-term effects on the country’s financial wellbeing, IPRs are undoubtedly beneficial for the economic growth of Bangladesh. Furthermore, by upsurging export diversification and promoting foreign exchange investment, IPRs in Bangladesh can enhance the likelihood of increased investments in both – the production and the invention areas.

Non-Economic: First of all, it is essential to understand that this aspect regarding the IPRs in Bangladesh is not less important than the economic feature. Exclusive rights under the non-economic aspect can help the nation in obtaining a distinct identification in the global market. For instance, Geographical Indication (GI) in Bangladesh has brought its natural and cultural products to the international marketplace. Note that Bangladesh has already attained GI tags for products like Hilsa, Khirsapati, and Jamdani, which are extracting considerable benefits for the nation.

IPRs are also known for creating value that serves producers with the best-suited prices for their quality products. As IPRs encourage producers to come up with quality products, these play a crucial role in providing nations with good income by increasing their reputation and financial profits.

Bangladesh is assuredly making efforts to ensure its growth, and therefore, emerged as one of the fastest-growing nations in the world. Nevertheless, if we consider the present scenario, the outcomes aren’t so good. For instance, if compared in terms of patent and Trademark Applications, Bangladesh lags far behind the three neighboring nations, including India, Pakistan, and Sri Lanka. Though it succeeded in leaving these three countries behind in terms of industrial designs, yet the overall gains from Intellectual Property Protection in Bangladesh seem to be unprofitable.

According to the data collected this year, the global ranking Bangladesh has achieved in the IP area was 116 out of 126. Besides within the marking range of 0 to 100, it has scored just 23.06. All these aspects ultimately point towards Bangladesh’s poor condition in the field of IP.

Solution related to IP issues in Bangladesh

 As discussed above – considering that the protection of IP in Bangladesh is a contentious problem, the TRIPS agreement that aims at ensuring powerful protection among the WTO members has given the nation an extended transition period to safeguard its IP. Nonetheless, this opportunity would not apply to Bangladesh after a time slot of three years. Hence, the nation will have to compete with advanced and developed countries for not just domestic but foreign markets as well. It means, the Bangladesh government, as well as residents, must take necessarily required precautionary steps on an immediate basis, else the global market share of this country will shrink. For more visit: https://www.trademarkmaldives.com

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Imagion Biosystems Obtains Patent from India

Imagion Biosystems Limited, an Australian firm dedicated to improving healthcare through early detection and research for diseases like cancer by using the latest diagnostic imaging technology, has recently obtained a patent from India. By bringing biotechnology and nanotechnology together, Imagion aims to recognize cancer and other diseases earlier, thus making it possible for the patient to recover at the early stages.

The recent patent – #320872 – from the Indian Patent Office has been issued for the company’s core Intellectual Property (IP) associated with detection, analysis, and imaging of diseases by using magnetic nanoparticles. The new patent has added India to the Imagion’s existing global market coverage, including Australia, Israel, Russia, Japan, and the US. And, if we talk about the term of this newly issued Indian patent, then it extends to the year 2030.

As per the data provided by the International Agency for Research on Cancer, the number of patients getting a diagnosis of this disease in India is expected to increase to 1.41 million by 2026 from 1.15 million in 2018. Alongside these statistics, the Indian Council of Medical Research abbreviated as ICMR has reported that lung cancer and breast cancer are the two most common cancers from which the residents in the country often suffer. It also stated that around sixty percent of patients having breast cancer get diagnosed in the late stages.

Bob Proulx, Executive Chairman of Imagion Biosystems Limited, said that this patent grant is a significant addition to their IP portfolio. He added that sadly, the cases of cancer (particularly breast cancer) in India following the rest of the world are continuously and rapidly growing. In nations like India, where the diagnosis usually occurs at late stages, there is a remarkable opportunity to impact the survival rates. Thus, their technology to detect disease at the early stages without using radiation or invasive procedures appears to meet an unmet need in the areas of cancer diagnosis and management.

The current focus of ImagionBiosystems is on diagnostic imaging addressing a $2 billion market globally. In the specific, the Imagion’s magnetic nanoparticles technology looks emphasizing lung, breast, prostate, and ovarian cancers.

It is expected that due to the large size of the population and its continuous growth, along with the development of the new cancer diagnostic technology in India, the nation will soon become a growing part of the addressable global market.  For more visit: https://www.trademarkmaldives.com

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How to Develop a Trademark Strategy for Your Business?

Are you planning to develop your business? It is significant to have a unique and distinct brand that’s recognizable by consumers as a sign of quality, trust, and satisfaction. These types of brands that attract business profits on one side are vulnerable to be infringed by others like competitors on the other side. Hence, a good trademark strategy is vital to create a brand that is easy to sell, satisfies the consumers, and maintains a distance from issues like Trademark Infringement. Trademark strategy can also help in ensuring that a unique name or logo representing your business will remain a symbol of your goodwill and reputation, instead of becoming descriptive of specific products originating from anyone.

Steps to Develop a Fruitful Trademark Strategy

  1. Execute Trademark Search

In the brainstorming stages of building your brand, a trademark search is helpful to determine whether or not any confusingly similar or identical trademark that can prevent Trademark Registration in regards to your product already exists. A trademark search, though, seems a little bit costly for firms having limited financial resources, yet it can help you in saving a lot of your hard-earned money that may likely get wasted on rebranding products and services once they were launched or promoted. It can also prevent issues like trademark infringement, and therefore, wastage of financial resources on settling them.

One can conduct a preliminary trademark search on his/her own. However, this type of search only captures trademarks identical to your mark in most cases. Besides, it fails to determine trademarks that have different spellings but the same sound, for example – Life and Lyfe. Accordingly, it is recommended to seek the help of an experienced Intellectual Property (IP) Attorney or trademark solicitor while conducting a trademark search.

  1. Be Careful About the Trademark Registration Process

After being familiar with the fact that trademarks can add a remarkable value to your brand, you may get tempted towards obtaining Trademark Protection in India or other nations for every symbol, name, etc., representing your business. Before proceeding, note that as the trademark registration procedure is country-specific, obtaining and enforcing several trademarks can be expensive as well as difficult. As a consequence, registering every single item in the vast suite of your business products doesn’t make commercial sense. Hence, Trademark Registration in India or any nation should always be carried out after prioritizing trademarks based on the value they provide and having complete information regarding how the process is carried out in the relevant nation.

  1. Market Your Trademark

The subsequent step in the trademark strategy procedure is to publicize your Registered Trademark to consumers so that they associate it with the satisfaction and quality related to your products and services. Do you rely on websites and social media platforms to advertise your products? Securing domain names and social media accounts will help in preventing competitors from making profits by using the same or similar names or accounts.

  1. Ensure Proper Usage

One pitfall trademark holder can fall into is condoning inappropriate trademark use by consumers and influencers in the area, spreading the usage in vernacular. One of the best examples of this is “Google®,” which was initially trademarked as a search engine but soon became a common verb to showcase searching for anything online. Although this isn’t always problematic for large brands; however, for small ones, it can lead to disastrous outcomes.

How can you prevent devaluing your trademark in this way? Ensure using your trademark protection for generic products or services that you are selling or planning to sell. Consider developing your marketing strategy based on the comparisons like – Kleenex® is the softest versus Kleenex® facial tissues are the softest. Avoid using your trademark in plural form instead of singular if it has been registered as a singular term.

  1. Fight Against Competitors

The aim behind developing a powerful trademark strategy is to make sure that your brand is the only one that makes profits on the goodwill and reputation you have created. To prohibit trademark infringement, you need to notify others regarding your trademark rights in as many as possible instances. For instance, if your trademark is registered, then you should showcase your trademarked term with ®. On the other hand, if it not registered, still you should mark it with TM symbol often put in superscript to notify others that you’re using the relevant symbol, word, or other as a trademark.

Wrapping Up

The precise trademark strategy can create goodwill and reputation that will uplift your brand from better to the best. Don’t forget that careful consideration and execution of an appropriate trademark strategy is not just beneficial but also essential to shaping consumer perception of your business’ products and services. For more visit: https://www.trademarkmaldives.com

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Apple’s Patent for Wraparound Display Hints Possibility for New iPhone

Apple, an American multinational technology company, has revived its interest in an old patent that details a mysterious wraparound display. In March 2013, Apple had filed a Patent Application that features an ambiguous device having a glass body and a display looping around the body. Since then, the company has filed thirteen patent applications revolving around the design of this device. The recent patent that details some changes in the design of the device is a continuation of the previous ones.

As far as display and body are concerned, Apple has always had a glass display and a metal body. Undoubtedly, some plastic derivatives at the middle and lower-end were also used for the rear panel, and there have been smartphones’ models with the display on, but a complete wrap-around is something no one has seen so far. Although the concept of wraparound display technology has been available with Samsung and Xiaomi also, no commercial model with such design is accessible in the market.

The changes in the latest patent showcase virtual volume keys, rather than the traditional physical buttons. They also show that the device includes a top bezel that further consists of an earpiece and many other essential sensors in addition to a narrow bottom bezel. The device doesn’t hold the notch, which most of the recent iPhones do.

The wraparound display described in the patent application indicates that the expected device will be an all-glass affair having the display on both sides of the phone. It even suggests that this could be Apple’s answer to a foldable phone. That may appear a little far-fetched as a foldable smartphone when unfolded converts it into a tablet.

Nonetheless, it is noticeable that the sketches in the patent application detail the original 2013’s design so that the company can update it for a future release to keep up with the prevailing design trends. However, with Apple too, it is highly unlikely that the firm will unveil an iPhone with a wraparound display or the iPhone 12 (to be launched next fall) will have this updated design.

We should consider that this is just a patent, which may exist as it is for several years. It is also possible that Apple may never come up with this device as the company files multiple patent applications each month, and it’s a continuous process. Indeed, various concepts and designs for which it gets the patents don’t see the light of the day. For more visit: https://www.trademarkmaldives.com

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A brief about Geographical Indications and Designation of Origin

Having a wide range of applications in Intellectual Property (IP) regimes of several countries worldwide, Geographical Indication (GI) is a sign, symbol, or name used on products to indicate that they have originated from a specific geographical locality and possess qualities, characteristics, and reputation attributable to their origin. GI not just functions as quality marks that improve export markets and revenues but also provides a precise source of origin. In this way, it prevents unauthorized users or manufacturers from manufacturing and selling fake products, i.e., products that don’t meet the applicable standards in regards to that origin. For instance, as Darjeeling tea holds a GI tag, its producers have a complete right to prevent the use of the term Darjeeling for the tea products, which are either not produced as per the standards set by the GI law or not grown in their jurisdictions. Though geographical indication protection doesn’t provide the right to prevent others from using the same technique or procedure to manufacture products similar to those that have been granted GI tags, yet it is beneficial in protecting unauthorized use of sign, symbol, or a name that constitutes indication.

Now, if we talk about the designation of origin, it refers to a special kind of protection and implies exclusive or essential natural and human factors of the geographical environment leading to specific characteristics and quality of products and services. It grants protection to the names or signs indicating that a product or service originates from a specific geographical region.

Why Should Geographical Indications and Designation of Origin be protected?

Protection of GIs and designation of origin under the Intellectual Property Law is crucial to evade unauthorized use and infringement. Prevention of such unlawful use will ultimately contribute to increasing the commercial value and reputation of the products and services. Moreover, it also benefits the general public and consumers. For instance, by promoting good business practices and fair market competition, protected GIs will help the customers to buy the precise products. Furthermore, by retaining the active workforce and stimulating family farms, especially in rural areas for developing specific and traditional products and services, the protection of these signs is favorable to economic development as well.

How Should the Protection of Geographical Indications be granted?

The protection of GIs under IP should be granted through a relevant registration procedure. GIs are often protected under national laws and following a wide range of concepts, like laws for the protection of certification marks, laws against unfair competition, consumer protection laws, or special laws for the protection of geographical indications or designations of origin. The Geographical Indication Protection provides the owner with the right to prevent third parties from using the authorized indication on or for the products or services that do not conform to the applicable standards and can be obtained by acquiring right over the sign or name that constitutes the indication. Once registered, the GI and designation of origin may be used collectively by any of the producers (who meet the requirements) from the specific locality.

Contrary to other sorts of Intellectual Property Rights (IPRs) like a trademark, patent, Industrial Design, and more, the legal systems taking care of this field may differ from state to state. One other considerable fact about geographical indication or designation of origin is that these are often used with producers’ sign or logo that can be protected under trademark with a perspective to focus on the individual character and common characteristics of products’ origin.

Protection of GI tags and designation of origin not just prohibits infringement issues but also builds a remarkable reputation worldwide. It then motivates the consumers to buy the GI products, along with visiting the regions where these commodities are being produced or made, and that ultimately benefit both the producers and nations by enhancing the tourism of those areas. For more visit: https://www.trademarkmaldives.com

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DMCA (Digital Millennium Copyright Act): Everything You Need to Know

Since the internet began, people have uploaded and published over a trillion gigabytes of digital content that includes music, games, movies, and much more. The rapid advancements in the digital age and the internet have undoubtedly served content creators and publishers with lots of opportunities to make profits and revenue but along with challenges such as violation of their data online. Indeed, Copyright Infringement is one of the biggest challenges that the digital world faces in the present era. To stop the continuous increase in widespread unlawful access to copyrighted materials observed in the 1990s, the US government put a step and came up with a law called the Digital Millennium Copyright Act. Abbreviated as DMCA, this law is a result of the teamwork of legislators, media firms, and consumer lawyers, and enacted by the US Congress and signed by President Bill Clinton in 1998. The law was made on request of many organizations requested for a legal process by which holder of Copyright Website, content, or image could assert their rights to prevent the illegal use of their media. Apart from providing the copyright holders with these facilities, DMCA aims to maintain a balance between the interests of original owners and those who want to purchase the copyrighted materials. It also takes care of penalties to be put on offenders who intentionally violate any Intellectual Property (IP).

DMCA Takedown Notice

Resting as the main component of DMCA law, DMCA takedown notice is an official notification to inform the firm, search engine, web host, or internet service provider (ISP) that they are using copyrighted material. As, in the legal sense, such use is unlawful and leads to copyright infringement, the site or company who receives this notice should immediately take down the specific material. In case they avoid doing so, the ISP could forcefully remove the copyrighted content. You can send the DMCA notice or request for the following types of copyright content:

  • Videos,
  • Digital software,
  • Artwork, images, photos,
  • Posts on your official websites,
  • Songs, music, and almost every kind of audio files,
  • Written texts, including books, poetry, articles, blogs, etc.

Registration of Work Isn’t Necessary

When it comes to write or send a DMCA notice, it is not mandatory to register your work. Any unique content becomes its owner’s IP as soon as he/she creates it. And, as the original owner holds the copyright to it from the moment of its creation, he/she can send a DMCA notice in regards to it without bothering about Copyright Registration. DMCA takedown request is one of the politest ways to prevent infringement of any unregistered material, but don’t forget that if you want to go for a copyright infringement lawsuit, then it is essential to register your content with the copyright office.

Procedure to Create DMCA Notice

As per the law, there is no official DMCA takedown notice form or template that copyright owners are needed to use. However, to make the requests valid, each plaintiff (sender of the notice) must consider including certain specifications. Besides providing info that showcases the copyright infringement, the notice should include:

  • All the details related to the content that’s being infringed
  • A statement that the sender has a good faith that the party on the receiving end has infringed his/her content
  • A statement that under penalty of perjury, every detail provided in the takedown notice is precise
  • Sender’s contact information
  • Sender’s physical or electronic signature

Don’t Worry If You Receive a DMCA Takedown Notice

Considering the legal standing, receiving a DMCA takedown notice undoubtedly sounds a bit scary, but being worried or scared is not at all a solution. What you should do in such cases is first of all calm down and be honest to yourself. After that, think whether or not you infringed the copyrighted material intentionally. Usually, there are high possibilities that you didn’t steal or post the content intentionally. Nevertheless, if you find yourself guilty of infringing the material, then rectifying your mistake will be the best solution. Be quick to locate and take down the violated content as soon as you could. In some cases where you host multiple websites with various people posting and sharing content, there are probabilities that you receive the notice as the next logical person to contact while the infringement was committed by any of those people. Other likelihoods could be that you are using the copyrighted content cautiously within the boundaries of Fair Use. If that’s so, then contact the sender of the notice and share the details of how you used his/her content. It will help you in sorting the issue with ease.

Conclusion

Nowadays, when powerful tools like DMCA are here to help you fight back the infringers, there is no need to stand like helpless in situations when they steal or use your copyrighted content. When these tools have been designed to serve you, then why not utilize them and extract the benefits that you deserve. From today onwards, be active and understand the rights you hold over your copyrighted content and ways to utilize them in the best possible manner. In the case of any query, feel free to contact an experienced IP Attorney. You can also contact an Intellectual Property Law Firm with good experience in rendering services related to the IP industry. For more visit: https://www.trademarkmaldives.com

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Apple Possibly Have Taken Control of ‘AirTag’ Trademark

Rumors of an Apple-branded tile-like tracking device have been circulating for months, and now it appears that the device could be named as AirTag. References to AirTag found within the iOS 13.2 update hints that this tile-like device may appear very soon. Apart from a lot of rumors about this device, a trademark for ‘AirTag’ has also been found. According to several reports, a Russian firm filed a Trademark Application for ‘AirTag’ in October 2018.

Filed with USPTO (U.S. Patent and Trademark Office), the application appears very similar to what people have been expecting Apple to reveal for some time. It includes systems of radio frequency identification (RFID) comprised of RFID tags in the form of cards, key rings, tags. It also encompasses RFID markers in the form of RFID signal receivers, downloadable software for operating RFID readers, blank smart cards with ICs (integrated circuits), etc. All these systems and things are intended to be designed for enabling users to identify them automatically for obtaining keyless access control over interlocking doors and various services like public transportation, social events, banking, and more.

After a few back-and-forths, the application was approved in August 2019. Following that, the links to Apple begun to appear on 28th August. On 28th August 2019, when an official notice stating that the same application would be published on 17th September 2019 has been provided, the attorney representing the trademark application changed to the Moscow office of Baker & McKenzie, a firm with which Apple has worked on several occasions and in different countries.

Indeed, that wasn’t the application’s final resting place. Instead, around one month later, i.e., on 1st October 2019, it moved again and has been officially transferred to a company named as GPS Avion LLC. It is a firm that was just created in July 2019 and appeared to have no public presence. GPS Avion LLC was created in Delaware by the Corporation Trust Company, which is a process Apple has deployed quite a few times to build shell companies to hide its identity while dealing with Intellectual Property (IP) issues.

Nevertheless, none of the facts finally confirms that Apple holds the trademark for AirTag, but they altogether do show that someone does. Besides, the use of AirTag by Apple in iOS 13.2 generates high possibilities that the company is related to Apple in one or the other way.

Undoubtedly, the recent media event that had held in October hadn’t mentioned anything about AirTags or Tile-like features, but considering iOS 13.2 references the new tracking accessory, we expect that AirTags would be announced soon, possibly even this week. For more visit: https://www.trademarkmaldives.com

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How Can Blockchain Help in Monetizing Intellectual Property?

With the advent of the internet that made it possible for online data to flow freely from one part of the globe to another, content creators nowadays can have global audiences. Although the free flow of content has opened countless opportunities for content creators, it many times results in piracy and Copyright Infringement issues. That’s why content creators in the present digital era have a hard time monetizing their content even when they strive to prove ownership of the same. Nevertheless, continuous technological advancements have come up with technology like blockchain that can help creators to monetize their unique content, i.e., Intellectual Property (IP).

From novel music to artistic works and unique inventions, IP encompasses a wide range of things. The appropriate use and sale of these assets can let you make millions of dollars. On the other hand, it is quite easy to have these assets stolen and monetized without your consent or knowledge in the current age. Hence, there is a need for something that can assist you to extract benefits out of your IP without letting someone infringe on it. Blockchain is one of the safest sources to enjoy the profits of using your IP deprived of facing copyright infringement. So now, the question arises ‘how blockchain can help in monetizing IP?’

In What Ways can Blockchain Assist to Monetize IP?

In general, there are several ways in which the blockchain technology can enable you to monetize your IP. Nonetheless, the first and most efficient one is the use of smart contracts. Embedding smart contract to your IP will make blockchain technology to execute a license for its use. For instance, if you are a photographer, then blockchain will trigger the automatic payment in regards to the set terms every time people access your photos. The technology will also aid you in proper scaling of the compensations. If a large corporation, for example, uses your photos, the smart contract will scale the payment and make sure that you receive the correct compensation for your work.

Besides, blockchain facilitates you to bypass the middlemen, thus raising the revenue you generate from your content. Middlemen, like popular streaming platforms, perform a task of dictating the amount of money content creators generate from their work. The past years uncover a lot of cases where the middlemen held responsible for providing the content creators with revenue much lesser than they expected. With blockchain technology that provides the creators with a full charge of their content, they can easily get to decide what their art worth. It further allows universal cross-platform monetization of your data. In recent times when various platforms compete for domination and market share at the expense of content creators, this technology would let you earn more and more money, regardless of the platform through which viewers consume your content.

Apart from aiding you in making profits like earn more money and save financial resources on getting agents to manage your IP, blockchain technology also works to prohibit content piracy, one of the biggest challenges creators often encounter. The pirates could use the stolen, i.e., copied content as content distributors, and thus, get payments for its distribution. In this way, they can turn the profits or revenue that should reach you towards them. Undoubtedly, blockchain empowers you to keep your gains only to you by prohibiting infringers from violating your IP.

Final Thoughts

Although blockchain technology is the best way to monetize your IP, it demands efforts on your part to ensure the excellent possible outcomes. As the ability of this technology to monetize IP depends on the blockchain networks and elements you decide to use, it is crucial to be cautious while opting for the same. There are many sources available in the form of enterprises, departments, etc., that deal in rendering blockchain services to help you monetize your content without any hassle. So, why to take risks? With real-time transactions and low financial investment support of blockchain technology, enjoy monetizing your content effortlessly while keeping it safe against infringers. For more visit: https://www.trademarkmaldives.com

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Where Does India Rank in Global Intellectual Property Filings?

Due to the rapidly growing technology making it easy to generate new ideas, create unique products, and enhance creativity, almost every individual and organization is striving to come up with something that can profit them. Nevertheless, this phenomenon results in increasing the competition that, in turn, leads to issues like copying and infringement of one another’s valuable assets. In this instance, Intellectual Property Protection appears as the best source to keep a person’s assets secure, and this is why Intellectual Property (IP) filing activities are continuously growing. Indeed, almost every nation in the world is witnessing an increase in IP filings. For instance, India, with a remarkable rise in trademark, industrial design, and patent filings, has achieved the top tenth rank among 49 countries positioned based on the total IP filing (resident and abroad) activities. As per the reports, the nation saw a hike of more than 20% in trademark filings, 13.6% in the industrial design fillings, and 7.5% in the applications for getting Patent Protection.

When it comes to overall, i.e., global upsurge in the IP filings, patent applications exceeded 3.3 million, which represents a growth of 5.2% in comparison to 2017. Trademark Applications totaled 14.3 million, up 15.5%, and Industrial Design filing projects amounted to 1.3 million. With around 50% of the total IP filings, including trademarks, designs, and patents, China has made the maximum increase in the global IP filings. In comparison to the IP applications filed in 2017, China observed over 160,400 more filings in the year 2018.

Though the second rank achiever – the US saw trademark filing activities rise by 4.3% yet a 1.6% decline in patent filings in 2018 is a concerning fact. It is the first fall that the country came across in the previous decade.

Asia has been developing as the universal hub for IP applications, according to Francis Gurry, WIPO (World Intellectual Property Organization) director-general.

Domestic Patent Applications, in India, reached 34% in 2018-19 from just 22% in 2013-14. As per the Department of Promotion of Industry and Internal Trade (DPIIT) report – including, information technology (IT), computer science, and science, almost every industry is adding to the significant rise in overall IP filings of the country. For example – Wipro and TCS (Tata Consultancy Services) – the two IT firms were positioned at first and second place respectively while the seven-year-old-startup Hike was ranked third in terms of applying for patents in the field of IT. Moreover, the India-based Kalvin Bharti Mittal-led firm has filed 66 patents. Although the company till now has not revealed the reason behind filing such a wide range of patent applications, it has been working in the field of research and development (R&D), encompassing Computer Vision, Social Network Analysis, and Natural Language Processing (NLP). The recently launched Hike Patent Program by the firm focus on incentivizing its employees with grants and rewards besides giving legal and market directions to patent filers.

In addition to the firms mentioned above, several other enterprises and entrepreneurs are actively participating in patent filings in India. It puts light on the fact that the individuals, as well as companies, comprehend the crucial role intellectual property fillings play in their professional lives. Well, it enables them to knowingly or unknowingly contribute to the growth of the nation’s IP filings. Furthermore, the government is also realizing the importance of encouraging the citizens to come up with new inventions, designs, etc., and thus, go for more and more IP fillings. And to make this happen in large numbers, the departments are continuously making efforts; for example – the Ministry of Commerce and Industry has recently proposed a reduction to Rs. 1,600 from Rs. 4,000 in Patent filing fees for startups and MSMEs.

Finally, with the growing usage of the internet and technology and nearly 60% of the Indian population to be young minds, it is possible to bring the nation among the top five IP fillings countries in the world in the future. Nonetheless, as the boost in the innovations will increase the IP filings and vice-versa, it is not at all the responsibility of the government or citizens alone to make efforts for this. Instead, both should help each other as it is the matter of securing the entire country’s IP assets and filing ranking. For more visit: https://www.trademarkmaldives.com

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