India’s growing maturity as a center of technological and scientific development is evidenced by the ever-increasing patent applications. Nearly 92,000 patent applications were filed in India during the last financial year. A top official gave this information on Tuesday. According to PTI news, Controller General of Patents, Designs and Trademarks (CGPDTM) Unnat Pandit also shared that the Intellectual Property (IP) guidelines are being revamped and inputs are being sought from various stakeholders for the new norms.
Demand for a new technology IP protection in India every six minutes
According to the news, Pandit said that around 92,000 patent applications were filed in the last financial year. That means every six minutes a new technology is demanding IP protection in India. We are revamping the IP Guidelines that were created to protect IP in different sectors. As this practice is ongoing, industry associations and IP stakeholders can contribute to further strengthening the impact of such guidelines.
Work underway towards efficient IP filing
According to the news, Pandit highlighted the need to create a vibrant IP system. He said that we are working towards efficient IP filing. This rapid growth in granted patents underlines the efficiency of India’s Patent Office in processing applications and granting IP rights. It also reflects the increasing quality of applications being filed, with many innovations meeting global standards.
what is a patent
A patent is a legal right granted by the government to a patent holder for a limited period of time after fully expressing his invention. On this basis, others can be prevented from making, using, selling, importing or producing the patented product or process for these purposes without his consent.
