India : The global R&D hub India currently ranks as the No. 2 destination for global corporations to set up their research and development centers . Traditional sectors like manufacturing, communications, health care and so on are seeing an increasing role of IP in business and its impact on their growth rates. IP is driving the biggest new developments in science, business, arts and other professions.
A plethora of job opportunities You can work either in any product development company, hospitals, R&D labs, law firms or start-ups or even start your own IP company, independent IP litigation practice or secure jobs as IP agents in different industries.
According to the annual report published by the Office of the Controller General of Patents, Designs and Trademarks, in the year 2018-2019, the number of patent applications filed were 50,6569, the number of design applications filed was 12,585, the number of trademark applications filed was 3,23,798 and the number of copyright applications filed was 18,250. This data clearly shows the increasing demand for IP filing and the role an IP lawyer can play in this fast-paced world.
Intellectual property management IP Audit involves assessment and review of a company’s IP (Intellectual Property), procedures to trace and protect the wealth of intangible assets followed by recommendations on how to improve the processes to safeguard and prevent misappropriation of sensitive forms of IP such as confidential information and trade-secret. IP monetization and commercialization is a process of bringing patented products into the market. This could be an excellent career option for those who love to assess new technology and new markets.
Conclusion Whether a business is just starting or already running, IP is always part of the business. Every day businesses build goodwill and recognition linked to their brand product or service, this value builds up over time and is strongly linked to the IP assets of the business. Therefore, it is important to identify the IP assets early in the business. The success of any business depends on the commitment of that business to its IP assets.
With the value and importance of IP assets climbing up each day, the demand for IP professionals is also on a rise. As young lawyers, what we need to do is invest our time to understand IP and the time that we invest today will bring high returns in the future when we step into the legal domain as young, practicing IP attorneys.
