Usharani • Prometheus IP • Page 2 Of 4

When someone creates a product, technology, or any other new works, they can have their work protected under IPR law.  The IPRs includes patent, trademark, copyright, and trade secret. Whether one wants to protect his/her creation or want to use someone else’s work, it is important to have a thorough understanding of which type of Intellectual Property they are dealing with.

As per the World Intellectual Property Organization (WIPO), China is now leading as the country with the greatest number of patent applications filed globally. Since the commencement of the Patent Cooperation Treaty (PCT) in 1978, the United States of America has held this position, which has now been taken over by China.

As we witness the Fourth Industrial Revolution, the digital transformation is at its peak and is in harmony with software development. Thus, the software industry and the development of various software-based technologies are anticipated to grow exponentially to sustain the transformation. From transportation to healthcare and from services to education, the software based inventions play a significant part in the transformation process across all industries.

Trademarks convey demonstrative and rational attributes of a business, its vision, and the products and services it offers. A trademark effectively communicates with the customers and persuades them to buy that specific brand. Trust is vital for any business to survive. A trademark espouses the professional reputation of the business and cultivates the reputation and name for the organization, thus earning the trust of the customers in the long run.

The New Normal in the field of profession as everyone knows is Remote Working. What is Remote Working? Well, it could also be called as “Telecommunication”- communicating and working from anywhere. This has become the new normal. Until last year, the experts have assumed that within a decade 90% of the companies shall opt for remote working, but the Covid crisis seems to have shrunk the timeline.

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.

The ongoing global pandemic and its resultant repercussions on economy is unprecedented. Strong economies have strong Intellectual Property (IP) environment. Thus, when the economy suffers, so do its IP environment. The economic implication is across all levels and all sectors of businesses. Hence it goes without saying that innovation is suffering.

The World Health Organization (WHO) explains COVID-19 (coronavirus) as the infectious disease caused by the most recently discovered coronavirus. This new virus and disease were unknown before the outbreak began in Wuhan, China, in December 2019. It is popularly referred to as the cousin of SARS (Severe Acute Respiratory Syndrome).

We are pleased to share that on 7th March, 2020, Dr. Poornima Chandran our Senior strategic planner- IP Project Management was invited to deliver a guest lecture on “IPR AWARENESS SESSION WITH EMPHASIS ON PATENTS AND DRAFTING PATENT APPLICATIONS” at a two-day National Seminar On Recent Advances in Agriculture and Biomedical Research (RAABR-2020), organized by the Department of Botany and Microbiology, Acharya Nagarjuna University, Guntur, AP-522510.