CII Reports Intellectual Property Can Be Valuable Collateral for Financing

CII Reports Intellectual Property Can Be Valuable Collateral for Financing

The 5th edition of CII’s (Confederation of Indian Industry) flagship annual Intellectual Property (IP) conference focused on creating IP-led technology for a $5 trillion economy has recently released a report showing global examples to represent the virtues of using IP as collateral for financing.

Visualized by CII and co-created by Duff & Phelps, the report said that being the third-largest economy for start-ups in the IP industry, including technology and pharmaceuticals, India is standing at the verge of IP revolution. Although the government initiatives like the release of the National IPR Policy in 2016 to spur interest in Intellectual Property Rights (IPRs) commercialization have been institutionalized, India’s IP financing process is still quite slow.

What are the reasons for the slow pace of IP financing In India? As the report said, unwillingness to treat IP as a business asset, challenges in IP licensing, lack of uniformity in the valuation of IPs, insufficient market, and legal infrastructure to monetize IP assets are some of the main reasons for the slow pace of IP financing in the country.

What is IP-backed financing? IP-backed financing refers to the approach of using IP assets to achieve access to credit. Nowadays, more and more MNCs (Multinational Corporations) and SMEs (Small and Medium Sized Enterprises) are selling their IP assets in exchange for finance. Besides, lending institutions worldwide are considering IP as collateral while extending loans. In general, IP assets are used to secure asset-based loans. However, if collateralized, then they can be used to increase the available credit. Note that in the cases where borrowers guarantee their IP, no matter patents, trademarks, or copyright, as collateral, the collateral pool upsurges in value and potential for a successful loan. In simple words, with ideas and innovations emerging as the key driver of the businesses, financing base that supports the IP’s commercialization is remarkably crucial.

Mr.Arvind Thakur, Chairman, CII National Committee on Intellectual Property & Senior Advisor to the Board, NIIT Technologies, while commenting on the report, said that using IP as collateral will help the industries and banks to develop a good understanding of the subject matter and gain profits.

He continued by saying that according to CII’s belief, IPRs should be at the central stage for competing in the world of Artificial Intelligence (AI) in a meaningful way. Moreover, it is expected that this would open new scopes of financing in India.

Following Mr.Arvind, Aviral Jain, Managing Director Valuation Advisory Services and Co-Head, Restructuring, Duff & Phelps, said that the nation needs to have a mechanism for obtaining financial support and a robust marketplace. India can take lessons from IP friendly nations such as Korea and Singapore that have taken steps to create an IP financing ecosystem. The schemes introduced to flourish the IP sector in these countries benefit SMEs, Start-ups, and even lending institutions.

Other Key Findings of this Recently Launched Report Are As Follows:

  • When the regulatory environment is emerging globally, and initiatives to give impetus to IP-based financing are underway, economies like Singapore display a sophisticated regulatory environment and a robust infrastructure for IP financing.
  • Over the past five years, IP financing transactions in areas where IP is used as collateral have declined globally.
  • There’s an increase in global PE (private equity) funds that are not just investing in IP-based companies but also helping to protect IP in certain situations. For more visit: https://www.trademarkmaldives.com

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TCS Reports Current Patent Laws Are Inadequate for AI-related IP

TCS Reports Current Patent Laws Are Inadequate for AI-related IP

Tata Consultancy Services (TCS), India’s largest software exporter in association with the Confederation of Indian Industry (CII), has recently reported that despite the evolution of Patent Laws in India and abroad, the increasing proliferation of artificial intelligence (AI) across the world requires new policies for Intellectual Property Rights (IPRs) enforcement.

The report found that the current patent laws treat AI software-based inventions as logical algorithms implemented in the computer systems. Although patent eligibility of algorithms is valid, there is not enough about how to handle inventions with heuristic nature.

What is Heuristic?

In AI, heuristic refers to a technique to solve problems faster than the classical methods. The report cited that AI software is no longer bound to traditional rule-based systems, and in fact, has increasingly turned heuristic, thus showing higher intelligence over classical systems.

The report explained that as per the current patent laws – someone, typically a natural person (in legal terms – an individual instead of one associated with a public or private body) who only applies the logic to make anything workable cannot be an inventor.

It also clarified that machines are frequently deriving solutions to problems autonomously or in conjunction with a natural person, thus bringing the definition of a ‘natural person’ in question. Besides, it emphasized that this issue needs to be addressed by state laws and enterprises. Moreover, data-privacy and data-ownership issues, which would have severe legal implications, are other aspects that require fresh debates.

The report further noted that in the global ecosystem involving multiple players, data is not just accessed but also moved across jurisdictions many times. The data ownership holder or the data owner or the AI scientist who owns the IP rights on an invention is at the forefront of the debate.

It then revealed that AI is helping to develop new mechanisms and doctrines for future IP ecosystems. As the study recommended – the present administrators of Intellectual Property Right in India and outside have to address the IP management at three levels.

  • At the data level: In the form of access to accurate and high-quality data
  • At the IP system level: For enabling the IP systems with AI-based solutions
  • At the people level: To empower people to realize the merits of AI in the IP domain.

At last, the report informed that IBM, Microsoft, Toshiba, Samsung, and NEC were the top five patent applicants. Nonetheless, the Chinese Academy of Science (CAS), dealing in deep learning (DL) with 235 patent families, held the largest patent portfolio worldwide – the report found. For more visit: https://www.trademarkmaldives.com

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

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

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

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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DPIIT Announces Launch of App for IPRs to Benefit SMEs and Startups

DPIIT Announces Launch of App for IPRs to Benefit SMEs and Startups

Recently, the Department for Promotion of Industry and Internal Trade (DPIIT) announced that it had developed a mobile application and website on Intellectual Property Rights (IPRs).

Launched by the Modi government on 14th October 2019, the dedicated website and app are aiming at making Indian startups and SMEs learn to protect and maximize their innovations.

According to a government press release, these dedicated tools have been developed by Cell for IPR Promotion and Management (CIPAM), DPIIT along with Qualcomm and National Law University (NLU), Delhi. By playing a remarkable role in enhancing the competitiveness of the businesses and opportunities to take technology products to market, Intellectual Property (IP) can be a road directing startups and SMEs to a successful destination.     

Guruprasad Mohapatra, secretary DPIIT, explained that as both the app and website will be useful to communities that hold a considerable promise for the country and its economy, this project appears very significant. Startups and SMEs are more harmonized into investment and risk-taking due to lack of legal knowledge, and today, when the nation is on the threshold of the fourth industrial revolution, the interface between law and technology is growing and therefore, it is crucial to be available with a specialized app and website to help enterprises with the IP processes.  

The press release also mentioned that the e-learning platforms – L2Pro India IP e-learning Website and the L2Pro India Mobile App are expected to help not just startups but even entrepreneurs, innovators, and small and medium industries to understand IPRs for their protection, integrate IP into their business models, and obtain value for their R&D (research and development) efforts.

The L2Pro has been successfully implemented in various nations, like Italy, UK (United Kingdom), Germany, and France benefiting from close collaboration with IP Firms and public research institutions. The learning app has been customized for India to ensure that innovations are protected, managed, and commercialized.

The L2Pro India IP e-learning platforms will be available with 11 modules for three different levels, covering Basic, Intermediate, and Advanced. Each module would comprise e-text for understanding concepts, links to additional resources on the subject, short animated videos of the ideas, and quizzes for grading the learner’s knowledge and insight into the subject.

People can access these e-learning platforms through their desktop, laptop, mobile browser, and mobile app (on Android and iOS), and on successful completion of their e-learning modules, they will receive e-certificates by CIPAM-DPIIT, NLU, and Qualcomm. For more visit: https://www.trademarkmaldives.com

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Facebook Faces Trademark Infringement Lawsuit over Calibra’s Logo

Facebook Faces Trademark Infringement Lawsuit over Calibra’s Logo

A mobile banking firm – Current has picked a Trademark Infringement battle against Facebook Inc. over the logo for its new digital wallet Calibra, with which the social media giant’s cryptocurrency project Libra has to deal with yet another issue.

Facebook introduced Calibra as the subsidiary that will oversee its cryptocurrency plans, including the development of a digital wallet.

According to the plaint submitted by Current in the US District Court for the Southern District of New York on 10th October 2019, Calibra’s logo is confusingly similar and virtually identical to the mark that the plaintiff began using in August 2016.

Now, where the case turns more interesting is the fact that the designer of both logos is San Francisco branding firm – Character, named as a defendant in the current lawsuit. The complaint revealed ‘the logo designing company hadn’t informed Calibra that the logo it was providing to them appears identical to the logo it had designed for Current to use for banking services.’

It is still unclear how all that happened, but Current has filed an application relating to its logo on June 26th, some days after Facebook unveiled Calibra.

Current’s CEO Stuart Sopp said that the similarities in both logos are since Facebook introduced Calibra. He added that his company had worked with Character for around six months to get the logo. Facebook has all resources and money in the world, and if it has truly wanted to turn banking services more inclusive and fair, it should have come up with its ideas and branding, like his team. 

In its application for an injunction, Current said that all efforts like conversations through emails or over phone calls relating to a mutually acceptable resolution of the infringement matter had been unsuccessful. The plaintiff added that Facebook hadn’t responded to its letters objecting Calibra to use the infringing mark, thus compelling it to knock the door of the court to get preliminary and permanent injunctive and monetary reliefs. Appearing confusingly identical and virtually similar to Current’s logo, Calibra’s mark is resulting in irreparable damages to its reputation, goodwill, and market. Moreover, as the marketing channels that both companies use to advertise, market, and promote their services are the same, the infringed logo is likely to generate remarkable confusion and deception, Current explained. 

Concerning such news, Facebook’s Libra Association, the non-profit foundation formed to oversee the cryptocurrency, has been losing founding members. Following PayPal’s exit earlier this month, Stripe and eBay have decided not to support the Libra project anymore. Visa and Mastercard have also pulled their support out of the project before their first meeting in Geneva on 14th October 2019.

Observing stern resistance from regulators and others, the head of Facebook’s Calibra – David Marcus stressed that the social media giant would not proffer the Libra cryptocurrency until it has fully obtained appropriate approvals and addressed regulatory concerns. For more visit: https://www.trademarkmaldives.com

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