For a Civilization on the back of Innovation
The world's judicial systems have been significantly impacted by this technological breakthrough. Traditional IP protection strategies have been upended, forcing them to adapt to keep up with the rapidly evolving forms of invention. To encourage innovation and creativity in light of the recent technological advancements the world has undergone. Nowadays, the average citizen's life is centred around one or more of these technologies, such as computers, palmtops, hightech phones, cable receivers, and the ever expanding internet. Patents and other kinds of intellectual property protection are crucial in fostering innovation and creativity. The main motivation for patenting is economic. For an inventor to have the only legal right to their creation and to enjoy a temporary monopoly on its commercialization, as well as to promote innovation and creativity, the invention must be registered.
India must strive to be at the forefront of innovation as it grows to be one of the largest economies in the world. A knowledge based economy and a thriving startup environment require an advanced Intellectual Property Rights (IPR) policy. There were 66,440 patent applications in 2021-2022 compared to 45,444 in 2016-17. The share of locals increased from 30 percent to 44.5 percent, which led to a fall in the dominance of international corporations. In spite of these advancements, India still lags behind its international competitors. The ecosystem for patents and trademarks has undergone several attempts in recent years to enhance. Service providers have been key enablers toward this objective. This edition brings to fore the patent & trademark service providers who have strongly supported the 'make in India' regime.