Significance of Intellectual Property for Indian Software Industry
Date: Friday , June 12, 2015
Founded in 2010, Bangalore based Origiin IP Solutions LLP is a provider of complete IP solutions to the innovation and research based companies.
In today\'s dynamic and competitive business world, having assets in the form of IP can add lots of value to the business. It is extremely important for the organizations to analyze business goals and set right IP strategies and creates roadmap that is in sync with business goals. India, being an IT/software and process outsourcing hub, has emerged as a preferred destination for outsourcing software development services. The spot-light of the industry is primarily on the service model, which is in some way refraining IT companies from creating their own patented products. Most of the service oriented IT firms derive major part of their business from global clients, and are contractually bound to not own IPRs (Intellectual Property Rights) even on products/solutions they have developed. In such a scenario, owing IP becomes really complex and limited class of software being patentable makes the process even more complex.
Though IP is often talked only with respect to the number of patent applications, the scope of the subject goes much beyond it. IP is a bouquet comprising of copyright, trade-secret, trademark, domain name, confidential information etc. Even though IP so created may or may not be worth registering IP as patent, it may be capable of being categorised as a trade-secret, protection and security of which is extremely critical to the business. Process (s) within organization should have best IP practices to integrate security and confidentiality of information whether it is a product or service based industry. Many features of software, such as code, algorithm and the ideas and concepts reflected in it, can be protected as trade secrets. This protection lasts as long as the protected element retains its trade secret status.
Apart from trade-secret, the form of IP that is extremely critical for any software industry is Copyright, where frameworks, source code, look and feel of the software can be protected. For all products that are critical for business, it is important to register copyright for them as a valid proof of ownership.
The way technology is evolving today, keeping pace with latest happenings around the world is very challenging and it is very much necessary to track these happenings. Extracting patent documents in the form of \"Patent Alerts\" in the core areas of technology that your company is focussing at not only helps to give right direction to R&D but also helps to understand the areas that your competitors are working in.This kind of patent alerts can be generated periodically on the basis of technology or competitors.
In addition to protection of IP by means of registering it, another critical object is to take precautions not to infringe any third party\'s IP rights by mistake. Before starting with the new projects, it is extremely critical to do initial due-diligence to ensure that no valid patents are being infringed by you. If you are making software for your overseas clients, this due-diligence becomes even more important to safe guard interest of your clients.
Knowing IP is extremely important for Indian Software Industry, even though it is heavily based upon services. Where on one hand, it is critical to safeguard proprietary IP, on the other hand, it is necessary to take precautions not to infringement IP rights of third party(ies). Systematic formulation of steps to taken to implement IP processes/policies within organization could be the first step, followed by protection and enforcement of the same.