siliconindia | | July 20189ple are free to exploit the technology howsoever they desire without running any risk of being sued.Patenting is a cost and labor intensive process. There-fore, 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 en-trusted 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 ap-plications 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 technolog-ical 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 applica-tion 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 reg-ister 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 confu-sion 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 strug-gle 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 invest-ing in IPRs and exploiting them fully. IP assets are a huge source of value and need to be managed as part of a busi-ness strategy. They can catapult a start-up to a leader in its field of trade. IP assets are a huge source of value and need to be managed as part of a business strategyRohit Singh
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