Innovation and technological advancements are pivotal forces driving modern economies, influencing industries and societies across the globe. Patents, as a vital form of intellectual property (IP), safeguard these innovations, providing inventors and businesses exclusive rights to their inventions while promoting the dissemination of knowledge. The patent landscape, however, is constantly evolving, driven by emerging technologies, global challenges, and shifting regulatory frameworks. As we move through 2024, several key patent trends are reshaping the future of innovation. This article explores five critical trends that will define the patent landscape in the coming years.
In 2024, the patent landscape is increasingly influenced by the global push towards sustainability and environmental responsibility. Companies and inventors are prioritizing green technologies, aiming to reduce carbon footprints and promote eco-friendly practices. This shift has sparked a surge in green technology patents, covering innovations aimed at reducing environmental impact, such as renewable energy sources, energy-efficient materials, carbon capture technologies, and sustainable manufacturing processes. They comply with:
The emphasis on sustainability is not just a moral imperative but also a strategic business move. Consumers and investors are increasingly favouring companies with strong environmental credentials. As a result, businesses are leveraging patents to secure their innovations in green technology, ensuring they stay competitive in a market that values sustainability. This shift is also supported by government policies and international agreements aimed at reducing greenhouse gas emissions and promoting sustainable development.
Artificial Intelligence (AI) and Machine Learning (ML) continue to revolutionize various industries, and this is reflected in the patent filings. AI and ML patents are among the fastest-growing categories, with applications spanning from healthcare and finance to autonomous vehicles and smart cities. These patents cover a broad range of innovations, including algorithmic improvements, AI-driven hardware, data processing techniques, and applications across different sectors.
One notable trend is the increasing number of patents related to AI ethics and governance. As AI systems become more integrated into daily life, concerns about bias, transparency, and accountability are prompting innovators to develop solutions that address these issues. Patents in this area focus on methods to ensure fair and unbiased AI decision-making, as well as frameworks for AI governance and compliance.
The biotechnology and pharmaceutical sectors are experiencing a significant uptick in patent filings, driven by the ongoing need for medical advancements and the recent global health challenges. Innovations in gene editing, personalized medicine and vaccine development are leading the charge. The COVID-19 pandemic has underscored the importance of rapid and effective medical responses, spurring a wave of patents aimed at improving healthcare outcomes.
These technologies hold the promise of treating genetic disorders and advancing agricultural biotechnology. Patents in this field are not only focused on the methods and tools for gene editing but also on the ethical and regulatory aspects, ensuring that these powerful technologies are used responsibly.
The intellectual property (IP) landscape is continually evolving, influenced by changes in legislation, court rulings, and international agreements. In 2024, several key developments are shaping the way patents are filed, enforced, and litigated.
This trend is aimed at simplifying the patent process for global companies and reducing the legal uncertainties associated with cross-border patent enforcement. Efforts by organizations such as the World Intellectual Property Organization (WIPO) are crucial in this regard, promoting international cooperation and standardization of IP laws.
The globalization of markets and the interconnectedness of economies are driving the need for a more harmonized patent system. Companies operating in multiple countries face the challenge of navigating different patent laws and regulations. In response, there is a concerted effort to streamline patent processes and create a more unified global patent system are as follows:
Harmonization efforts include initiatives to align patent examination procedures, reduce duplication of efforts, and facilitate mutual recognition of patents. These efforts are particularly beneficial for small and medium-sized enterprises (SMEs) that may lack the resources to manage complex international patent portfolios. By simplifying the patent process, harmonization helps foster innovation and encourages the dissemination of new technologies across borders.
Blockchain is an immutable ledger that records and processes assets for business entities. It facilitates digital currency like Bitcoin. It acts as a digital ledger for recording cryptocurrency transactions. According to a data, worldwide patent registration for block chain technology has increased significantly since 2019, with around 14000 patents being registered in 2020 by:
Since blockchain technology is primarily based upon computer programme and algorithms, it might be difficult to obtain a patent in India because of the existence of Section 3(k) of the Indian Patents Act 1970, which primarily prohibits commuter programme from being patented unless they have any technological advancement. India is still speculating its stand on block chain technology and bitcoin and is therefore lagging behind other countries with the number of patents.
The Internet of things (IoT) is a network of devices that are connected over the internet and share data. Over time, IoT has become not just an interconnection of computers but rather a network of devices like automobiles, smartphones, appliances, etc. According to the McKinsey study, the potential economic impact of IoT is likely to increase from 2.7 trillion to $6.2 trillion per year by 2025 with applications in healthcare, manufacturing, power, urban infra-structure, security, vehicles, and agriculture. From 2004 to 2013, the number of patent applications was found to be 21,956, with ZTE (China) as the top applicant. In a study conducted by the National Association of Software and Service Companies, around 5000 patent applications were submitted from 2014 to 2019, with 80% of them related to industries and the rest to healthcare. This rise in India and the world can be attributed to the accessibility and affordability of smart devices. IoT functions on software programs, and according to Section 3(k) of the Patents Act 1970 they are not patentable. However, patentability can be granted if the programs are connected with hardware devices like smart phones, etc. Patentability of IoT inventions might be difficult due to the presence of Section 3(k) in Indian patent law.
In Conclusion: Navigating the Changing Patent Landscape
The landscape of innovation is rapidly evolving and is not limited to the seven key trends we explored. Metaverse and virtual reality related patents are on the rise. These trends possess both challenges and opportunities for the industries to navigate. As we move through 2024, the patent landscape is undergoing significant transformations, driven by advancements in technology, evolving IP laws, and global challenges such as sustainability and globalization. Inventors, businesses, and policymakers must stay abreast of these trends to navigate the changing IP environment effectively. The increasing focus on sustainability, the rise of AI and biotechnology, and the challenges of patenting emerging technologies highlight the dynamic nature of innovation. At the same time, the globalization of innovation, Blockchain technology and IoT are reshaping how patents are filed, enforced, and protected.
In this rapidly changing environment, a proactive approach to patent strategy is essential. Businesses must not only innovate but also adapt to the evolving IP landscape to protect their inventions and capitalize on emerging opportunities. By staying informed of the latest patent trends and adopting flexible IP strategies, companies can continue to thrive in the competitive world of innovation by gaining a competitive edge, and contribution to a more sustainable and technologically advanced future.
Written by Sarren Muhil & Khushee Runthala, assessment interns @Intepat IP.