Nagasyam - Prometheus IP

COVID-19 pandemic has created a necessity to establish a new way of living. It is proven that any kind of transformation in the conventional lifestyle of a human being opens opportunities for innovation. The ominous consequences and challenges brought on by COVID-19 has urged innovation across all industries, thus leading to novel niche markets.

Intellectual property rights (IPR) are intangible assets, which gives an exclusivity or monopoly to the owner for a certain period. Intellectual property rights are Patents, Industrial Designs, Trademarks, Copyrights, Geographical Indications, Plant Varieties, and Trade Secrets.

Blockchain is a revolutionary technology that deals with peer to peer data connection and gives an open and decentralized network for use. Blockchain system is a distributed network and the ledger holds every single transaction for every user to see. Every single node on the network has a copy of the ledger.

Patent quality index (PQI) is a mathematical tool to measure the quality of patent by considering the multiple aspects such as technical strength, commercial value, prosecution proceedings and legal strength. Each aspect includes multiple parameters and the PQI is measured either considering single aspect or combination of one or more aspects.

The center for policy research (CPR) reported that both the Telugu states (i.e. Telangana & Andhra Pradesh) are top in applying patents. The Government initiatives towards startups, Small & Medium Scale Enterprises provided the much needed motivation to the intellectual professionals of Telangana and Andhra Pradesh for conducting research and developing innovation.