Significant Increase in Patent Filings: Nasscom
- 27 Apr 2023
Recently, National Association of Software and Service Companies (Nasscom) released a report stating that India witnessed a significant increase in patent filings in fiscal year 2022.
- India's patent filings in fiscal year 2022 showed a Year-over-Year growth rate of 13.6%, marking the highest annual increase in the past decade.
- Out of a total of 584,000 patents filed between FY2010 and FY2022, 266,000 were related to technology.
- Of these technology patents, 160,000 pertained to emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), Big Data, Cybersecurity, and Blockchain.
- Within the telecommunications sector, 2.4% of the total patents filed were focused on emerging areas like 5G and 6G.
- In FY22, the share of domestic filings increased to 44.4% of total patents filed, compared to 41.6% in the previous year.
- Nasscom's President emphasized the importance of partnerships among various stakeholders to create and raise awareness about intellectual property, which would ultimately boost domestic patent filings.
Intellectual Property (IP) refers to creations of the human mind or intellect. It includes intangible assets such as inventions, literary and artistic works, symbols, names, images, and designs used in commerce.
Intellectual Property Right (IPR) refers to a category of legal rights that protects IP. Intellectual property can be protected through various forms of legal mechanisms such as patents, trademarks, copyrights, and trade secrets.
