DECEMBER 20189falls in public domain and as a result, people are free to exploit the technology howsoever they desire without running any risk of being sued.Patenting is a cost and labor intensive process. Therefore, companies must conduct patentability searches before investing heavily in their R&D wings to avoid reinventing the wheel. This is not enough, as the drafting and filing of a patent application is the most crucial step and must be entrusted to a competent patent attorney/agent - who is well aware of various nuances of the patent legislature.Applicants of a patent application need a strategy for global filing of their patent applications and they need to choose between Paris Convention and Patent Co-operation Treaty (PCT) routes. In India, it takes around 5-8 years for a patent to be granted and this period will reduce to 3-4 years by 2021.Freedom to use your technology is equally important before launching your products in the market. This ensures that a company is not infringing on an unknown patent. If a patent of potential risk is uncovered, then the best way forward is to engage in cross-licensing. In India, patent applications can be opposed or revoked and there are various provisions which can be exploited against the patentee. A compulsory license for non-working can also be issued by the Government.The influx of technology in our day-to-day life is so overwhelming that we tend to associate certain technological marvels with specific brands. This is where trademark laws have a huge impact in terms of branding and acquiring a distinctive character because a trademark helps in cutting through the clutter. Trademarks are extremely important in promoting global economic growth and enable consumers to make a confident decision.Trademark (TM) is the most distinctive symbol/image/logo of your brand which the consumers use to identify and segregate from others. In legal parlance, a TM distinguishes your company's goods and services from those of others. A TM may comprise of letters/numbers/words/designs, colour combinations and 3D features such as shape & packaging of goods, and non-visible signs such as sounds or fragrances can also be protected under a trademark in India.A Trademark is registered for a period of 10 years in India and can be renewed indefinitely. Business owners must get their trademarks registered in early stages of setting-up their business. In fact even if the TM is not used, an application for proposed use of a mark can be filed.Like patents, due diligence must be conducted before registering a Trademark to avoid an infringement. Unlike patents, it is not mandatory for a business enterprise to register its Trademark. As the business grows, the tendency of encountering fakes also increase. So, one has to stay vigilant to identify any potential infringements to avoid any confusion amongst the consumers, as it can lead to brand dilution.Consumers often refer to a mobile phone manufactured by Apple as an iPhone, simply because it has garnered this huge global reputation. The consumers do not have to struggle to identify whether a phone is manufactured by Apple or not - simply by looking for a half-eaten apple on the phone.Companies can increase their competitiveness by investing in IPRs and exploiting them fully. IP assets are a huge source of value and need to be managed as part of a business strategy. They can catapult a start-up to a leader in its field of trade. Rohit Singh
< Page 8 | Page 10 >