New accelerator programmes coming up globally

World IP Day 2024 is an opportunity to explore how intellectual property (IP) encourages and amplifies the innovative and creative solutions that are so crucial to build our future world. The Sustainable Development Goals (SDGS) are a blueprint for people, peace, prosperity and our planet.

This annual international event is an opportunity to learn about the role that intellectual property rights (IPRs) play in encouraging innovation and creativity. The theme of this year’s celebration is ‘IP and the SDGs: Building Our Common Future with Innovation and Creativity.’

In addition to the specific developments that we will see point by point, these are some of the trends that will define the IP field.

In patents, new accelerator programmes are expected worldwide, in addition to green programs that facilitate and expedite the protection of sustainable inventions. Adjustments in patent exclusivity rights and their period of validity are also foreseeable, especially in the field of Life Sciences (compulsory licenses, biosimilars, SEP, SPC, term extensions, etc).

Regarding trademarks, non-traditional marks will continue to gain ground in legislations around the world, given the current importance of these signs in branding strategies, including regulations for new generation and well-known trademarks.

Finally, it is foreseeable that everything related to new disruptive technologies, particularly Artificial Intelligence (AI), will bring innovations to the IP field and will pose new challenges that will need to be progressively addressed in the legislative framework.

India has emerged as a key player in the dynamic landscape of IPRs globally, showcasing a remarkable growth trajectory. The last nine years witnessed a substantial increase in patent filings and industrial design registrations, with a compound annual growth rate (CAGR) of 60 per cent through the end of 2022. This has also been equally reflecting the growth of India in the global innovation index from 83rd to 40th position as well as registering a matching increase of 60 per cent during the concomitant period.

India In Global Patent

Landscape

The surge in global patent applications reflects a growing recognition of the value in safeguarding IP Creations. India has 4.65 lakh patents filed in the current decade (2014-2023), which is ~44 per cent higher than those filed in the preceding position as the sixth-largest country regarding the number of patents filed in 2022, showcasing an impressive growth rate of 25.2 per cent from the previous year. A total of 90,300 patents were filed in 2023, 17 per cent higher than in 2022. Indian Residents have witnessed a lofty 98 per cent growth in patents for the nine years ended 2022. Non-residents worldwide have also witnessed a doubling of patent growth in India, taking advantage of an efficient IP regime. 32 per cent of the patents filed in India are now by Indian Residents, a jump from ~20 per cent before 2014.

Regarding patent applications by domestic applicants 100 per billion $GDP, India is quickly ramping up patent protection with a decadal growth rate of 110 per cent in 2022 compared to 56.9 per cent in 2014. The growth demonstrates that India has now surpassed patent filing in Canada, Australia, France and Germany. In 2023, 247 patent applications were filed daily. The growth is equally contributed by the start-up ecosystem and prolific base of SMEs and individual inventors, too. The country has been proactive in revamping the IP ecosystem by strengthening the patent framework to encourage innovation crucial in today’s knowledge-driven economy. India was steadily growing at an average of 5.4 per cent growth until 2021, making strides in the global IP landscape.

The government’s persistent efforts to strengthen the IP regime have resulted in a drastic reduction in the average pendency for patent examination from 2,160 days in 2016 (highest among major countries) to 120 days in 2022 in the majority subject specialty (fastest among major countries) from the date of examination request filed with the IP office.