Are You Prepared to Lead the Next Innovation Chapter?

Once a person decides to become transcendent, their mind and actions are simply unstoppable. The purpose of innovation is infinite, but it always has the same motto: to improve the reality we live in. Throughout our lives, we have seen and benefited from the things that once had been called the madness of the great minds that imagined it: the electricity, telephone, ampicillin, TV, the world wide web, smart devices, and right up to the great metaverse, and the NFT era. 

It is thanks to innovative minds that we can fight against pandemics or imagine new ways to live. The tireless intellectual activity of human beings has one of its best expressions in the development of various products and services, from those linked to the basic needs of nourishment and protection to those related to recognition, and self-realization. These efforts are reflected in the constant innovation seen in all fields of human endeavors; we now live in an infinite world of opportunities, where we can only imagine the millions of new developments that our beloveds will benefit from, such as sustainable energy, medical devices and wearables that save lives, e-learning, automated professional services and technology applied to all the  sectors that will be developed over the coming years.

The organizations behind these great achievements are private companies, academic institutions, NGOs, and governments that need to protect the results of their investments with IP solutions, such as trademarks, patent registrations, and industrial designs, with the aim of guaranteeing an adequate return on investment.

According to the World Intellectual Property Organization (WIPO), in 2021, innovation grew to 3.4 million patent applications filed worldwide (3.6% more than the previous year). In addition, the registration of trademarks was 13.9 million (+5.5%). There were also 1.2 million applications for registration of industrial designs (+9.2%) and 23,340 applications for plant varieties were filed (12% more than in 2020). In this context, it is important to highlight the role that China has played, since it represented 47% of patent applications, 52% of trademarks, and 67% of industrial designs.

Technology is the sector that generated the most patents in 2021. Computer science represented 10%, digital communication 5%, and, finally, medical technology 5%. In this environment, the areas that have been the center of attention are the following:

Artificial intelligence and machine learning: Where we have seen a constant upgrade in capabilities previously exclusive to humans is leading this industry to unforeseen heights. With a CAGR of 20% between 2022 and 2029, this market will see unprecedented growth. 

Internet of Things: The creation of a network of interconnected devices makes life easier for people and organizations. In 2021, this market had a global valuation of US$260 billion.

Cybersecurity: An interconnected world is fertile ground for all kinds of attacks, and this activity has also grown exponentially. It is expected that by 2026 it will have a value of US$334 billion.

Quantum computing: This discipline has many practical applications, such as in the field of logistics in planning the routes of thousands of trucks, planes, and ships. It is expected that this market will reach a value of US$8 billion in 2027.

Robotic process automation: The automation of industrial processes through robotics is a reality in many industries now, and its constant development reflects the search for efficiency. It is expected that in 2023 it will reach a value of US$10 billion.

Virtual and augmented reality: The experience that combines images and sounds in both the real and virtual worlds has generated millions of applications, ranging from entertainment to advertising, education, industry, medicine, and many more. The gaming market alone is valued today at US$2.4 billion.

5G: This is the most advanced broadband technology, whose development and implementation involve giants like  Huawei, Samsung, Apple, and Qualcomm. It is expected that by 2025 it will have 3 billion users.

Blockchain: This technology helps to protect all kinds of creations, such as the source code of software. The global investment in blockchain will be US$19 billion in 2024.

In view of the great values that innovation represents, business leaders need to be prepared to protect all these human and economic efforts as well as maximize monetization capabilities.

It is important to clarify that any innovation may be susceptible to being replicated or stolen from its inception and throughout any phase of the creation and implementation process. Not having an adequate protection strategy could pose a risk of plagiarism or commercial frontal attack, resulting in a great loss of economic investment.

For these reasons, it is important to use the latest technologies and tailor-made intellectual property solutions to protect innovation. For example, the use of blockchain for the traceability of intellectual property.  This technology is used to increase the efficiency of the processes of protection, defense, and monetization of tangible assets, such as technological developments, patents, and industrial secrets.

Innovation, processes, and products are some examples that developers must seek to protect to maintain their ownership and subsequent use. Of course, it is important to work hand in hand with professionals with sufficient experience to help you navigate the complex field of intellectual property and help you realize your vision and even explore other business opportunities globally. 

Only a few IP-experienced firms worldwide have introduced the technology to support and empower IP. For example, ClarkeModet has been a pioneer in blockchain implementation, to help bring ideas to life through effective and disruptive solutions with an important focus on the business to strengthen and maintain competitive market advantage. 

The world is changing at an exponential speed; make sure you transform your business with the right team.
 

Sources

• Visualizing companies with the most patents granted in 2021 [Internet] Available at: https://www.visualcapitalist.com/visualizing-companies-with-the-most-patents-granted-in-2021/ [Accessed December 12, 2022]

• China´s national intellectual property administration issues 2021 annual report [Internet] Available at: https://www.natlawreview.com/article/china-s-national-intellectual-property-administration-issues-2021-annual-report [Accessed December 13, 2022]

• Top 9 new technology trends for 2022 [Internet] Available at: https://www.greycampus.com/blog/top-9-new-technology-trends-for-2022 [Accessed December 12, 2022]