Future Trends in Intellectual Property
Intellectual property is a category of property that includes intangible creations of the human intellect.
As the world becomes increasingly digital, the importance of intellectual property rights (IPR) has grown rapidly.
The intellectual property now comprises one of the most valuable assets of any organization, with patents, trademarks, copyrights, and trade secrets. Which plays an important role in making possible innovation and growth.
New technologies and future trends in intellectual property law will shape the future of IPR.
Future trends in intellectual property (IP) include increasing the focus on AI-generated content protection, blockchain-driven patent management, and global harmonization of copyright laws.
Here are some potential trends that could shape the field of intellectual property in the coming years:
- Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are among the most important technologies that will impact IPR in India. AI algorithms can help in monitoring and detecting IP infringement, for example identifying copyright violations, trademark misuse, or patent infringements, through various online platforms.
- Digital twin and IP rights: It helps to prevent copying and infringement while also enabling companies to oversee their information and identify changes.
- Blockchain and IP management: The technology can track and manage digital assets securely, which could lead to the development of new and better ways to register IPR.
- Internet of Things (IoT): The technology connects devices such as home appliances, cars, and other electronics, generating massive amounts of data. With this new level of connectivity, new creative inventions will arise, which will require protection from copying by third parties.
Case study: Blockchain Technology for Electronic Voting System
KODAKOne Uses Blockchain Technology and Cryptocurrency to Manage Image Rights
Introduction:
In January 2018, Kodak announced the image rights management platform KODAKOne.
This platform will utilize blockchain technology to permit photographers to register, manage, archive, and monetize their images seamlessly from a single platform.
This platform will also assist photographers in getting unlicensed users to license the images.
The technology work:
The Blockchain technology will create a digital ledger of rights ownership for photographers.
Blockchain is a set of technologies that combine the blockchain data structure itself, distributed agreement algorithms, public key cryptography, and smart contracts.
Reason:
Electronic voting carries significant risks such as if an electronic voting system is compromised, all cast votes may be misused.
Electronic voting has not yet been adopted on a national scale.
There is a practical solution to overcome the risks and electronic voting, which is blockchain technology.
Fig: Comparison of Traditional way and Blockchain technology ways of voting
We can see the main difference between both of the systems. In traditional voting systems, we have a central authority to make a vote. If someone wants to modify or change the record, then they can do it quickly.
However, One does not have the central authority, and the data are stored in multiple nodes. It is not possible to hack all nodes and change the data accordingly.
Therefore, in this way, no one can destroy the votes, and can be efficiently verified by comparing them with tallies from other nodes.
Conclusion:
With the introduction and continuous evolution of these emerging technologies, it is suggested to protect the IP rights to save new innovations and creations.
Protecting Intellectual property (IP) rights is crucial for fostering innovation and ensuring that creators and inventors are rewarded for their contributions.
At PATHtoIP®, we ensure that every client receives exceptional results through high-quality IP research. As an experienced firm, we are dedicated to providing IP protection and delivering results capable of reaching your goals.
