Patent Business Lawyer in Asia

Patent Attorney practicing Patents, Corporate Law, Mergers and Acquisitions, Venture Financing, Startup Technology Law

Blockchain and Cryptocurrency

Innovative blockchain applications require patent protection and cryptocurrency patents fall in this category covering FinTech Innovations. Over 10,000 years ago, humans began wisdom to use shells to trade for supplies. Shells eventually turned into money. Now, with the growth of the internet, the digital currency has begun to bypass and is steadily replacing traditional currency. Unparalleled changes in payment strategies are coming about as a consequence. The sudden surfacing of cryptocurrencies such as BitCoin, Ethereum, and LiteCoin has forced the financial world to meet these changes head-on and to consider complete changes. Cryptocurrencies are ready to develop unhampered by the traditional financial system because they are backed by a key technology – the blockchain. In its fundamental form, it is an open ledger of information that can be used to store and track transactions, and which is exchanged and verified on a peer-to-peer network.

The foremost revelation of cryptocurrency-related patents appeared around 2012, as per USPTO records. During the 2012-2015 period, in the U.S. alone, establishments had had to congregate a minimum of eighty-three patent applications that contained words like “cryptocurrency” and “blockchain” in their forms. As a result, that number has risen even further since 2017 was a very active year for blockchain and cryptocurrency patent filings. The number of major patent applications appears to be on the rise throughout the primary months of 2018.

Blockchain Patent Lawyer

Blockchain Patent Example

American Express has developed a payment system to improve the speed and functionality of the existing card payment ecosystem. The present case also explores the issues the card payments industry currently faces and explores how Blockchain could help to overcome those hurdles. Furthermore, the case-study also compares the existing payment ecosystem and the new ubiquitous payment system.

In addition, Mastercard is also a part of the enterprise Etherum Alliance that supports the implementation of blockchain in various applications. Visa has also realized the strength of this disruptive technology and has created a B2B Connect payment platform to improve the types of cross border payment options.

The patent filed by Amex details a concept for offering customer-specific types of rewards (including points, a virtual currency or specific items tied to a product). The filing point towards the monetary giant that would make these offers by accumulating personalized data about the customer, such as their significant spending patterns.

The patent mentions the tech as one resource for hoarding and revising information among a number of probable approaches, detailing the blockchain structure that may include a dispersed database that maintains a growing list of data records. The blockchain may offer enhanced security because each block may hold individual transactions and the results of any blockchain executables. Each block may hold a timestamp and a link to a preceding block.

Amex is presently a member of the Hyperledger Blockchain Group and, when it joined in January, the corporation suggested that it would look to blockchain as a way to potentially rework its existing services.

There is a tectonic shift underway in the B2B middle-market payments landscape, with increasing numbers of service providers offering specialized products and services to address buyer/seller pain points. Traditional financial institutions may be particularly vulnerable to disruptive competition that they haven’t experienced in their core banking and lending services. Barriers to entry have largely been eroded by a combination of technology and disruptive business models that are making it easier for smaller players to do what only the larger banks were able to previously.

Blockchain Patent Attorney

Drafting and searching blockchain patent applications require in-depth expertise in patent law. Also, the blockchain patent lawyer plays crucial role in creating a patent portfolio covering all possible patent assets even before the company starts launching the products in market. The patent team performs regular patent due diligence including checks for compliance depending on the nature of the business. From the perspective of patent ownership, establishing proper title of innovations from the beginning is important to ensure smooth selling / licensing / assignment of patent rights.

Advocate Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology, Intellectual Property & Corporate Laws. He is reachable at rd (at) patentbusinesslawyer (dot) com & @rdpatentlawyer on Twitter.

Quoted in and contributed to 50+ national & international publications (Bloomberg, FirstPost, SwissInfo, Outlook Money, Yahoo News, Times of India, Economic Times, Business Standard, Quartz, Global Legal Post, International Bar Association, LawAsia, BioSpectrum Asia, Digital News Asia, e27, Leaders Speak, Entrepreneur India, VCCircle, AutoTech).

Regularly invited to speak at international & national platforms (conferences, TV channels, seminars, corporate trainings, government workshops) on technology, patents, business strategy, legal developments, leadership & management.

Patent attorneys with expertise in Blockchain, Distributed Ledger and Smart Contracts draft and file patent applications for Blockchain IP Protection.

Blockchain

IBM was recently granted a patent covering an innovation to prevent drones from stealing packages. Companies like DHL, Amazon and FedEx are working on automated delivery of packages by using drones.

Blockchain Innovation

Blockchain is a distributed record which can record exchanges between two parties in an efficient and genuine manner. It is an innovation that can support better approaches for interfacing and recording information over all regions of innovation.

BLOCKCHAIN PATENT ATTORNEY

Blockchain was at first connected with digital currency exchanges. Its uses are being investigated and perceived in different structures, for example, record-keeping, contact, and registers, and so forth.

The health business has been investigating blockchain to help and verify data trade of patient records and furthermore for following of pharmaceuticals from their production to their organization to patients.

The consumer world perceives blockchain as an approach to follow supply chains from production to form names and to rearrange security forms identifying with passenger screening.

Patent Data

Patents are allowed for gadgets, substances, techniques or procedures that are new, creative and valuable which gives elite business rights in return for full public revelation of the development.

Patents can be utilized as pointers of innovative activity. The parts of innovative action can be estimated by examination of information related to the patent archives.

This suggests patents are a wellspring of information on innovation trends in science and innovation.

Patent Document

It is compulsory for the applicant to document a patent application for every country an applicant needs to get patent assurance. The Patent goal demonstrates that where the pioneer needs to ensure their development. There can be different purposes behind assurance including the country being an objective for commercialization or that the country is significant for future research. With the assistance of blockchain innovation, the applicant can document the most noteworthy extent of patents inside their very own country.

Blockchain Technology

Technology analysis helps to identify the level of activity in specific technology areas within an overall field. It can additionally assist pioneers with understanding different regions of business intrigue and educate commercialization methodologies and research headings.

Division of patents occurred in two general classes which are broad chain applications and data processing. There were additionally founded on patent classification symbols, International Patent Classification (IPC) and Cooperative Patent Classification (CPC) and keywords.

There has been a low extent in connection to the patents getting approved by patent offices.

Blockchain Applications

The blockchain applications are additionally divided into four subcategories by IPC, CPC, and keywords. These subcategories are as per the following:-

  1. Payment and Transaction systems:-

It incorporates patents coordinated to the utilization of blockchain innovation in cash transfer. It has the most elevated extent of patent families or groups of all subcategories of blockchain applications. Innovations in this sector are protected by patents mostly owned by Digital Asset Holdings, nChain, Socure, and Swirlds.

  1. Financial Services:-

Financial Services incorporate patents that include banking, stock exchanging and the executives of money and cryptographic forms of money. Instances of patents in this sub-classification are held by Nasdaq and Coinplug.

  1. Business Administration:-

It captures the utilization of blockchain innovation in exchange applications that don’t include cash. These incorporate record-keeping, restorative records and the board of agreements. Instances of patents in this subclass are held by eIngot and SkuChain.

  1. Shopping and Ecommerce:-

It identifies with patents that use blockchain in purchases from online and customary shops and in internet gaming. A case of licenses in this subcategory is held by Beston Technologies Pty Ltd.

Blockchain Patent Attorney

Patent attorneys with expertise in blockchain technology work closely with clients to perform patent searches and draft patent applications. During blockchain patent research, patent attorney conducts a key word search of the granted patents and published patent applications across various patent database platforms. The patent searches are based on the features of the blockchain innovation by themselves and in combination. To expand the scope of the blockchain patent search, keyword search is also performed across various Non-Patent Literature (NPL) resources to ensure that all the related prior art is retrieved.

Blockchain Patent Drafting

Patent attorneys conduct comprehensive research before drafting software patents and mobile app patents. The patent research work also includes comparison between features of the blockchain innovation and prior art references. On certain occasions, a patent claim chart is also prepared to illustrate the relationship between prior art and the innovation features.

Advocate Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology, Intellectual Property & Corporate Laws. He is reachable at rd (at) patentbusinesslawyer (dot) com & @rdpatentlawyer on Twitter.

Quoted in and contributed to 50+ national & international publications (Bloomberg, FirstPost, SwissInfo, Outlook Money, Yahoo News, Times of India, Economic Times, Business Standard, Quartz, Global Legal Post, International Bar Association, LawAsia, BioSpectrum Asia, Digital News Asia, e27, Leaders Speak, Entrepreneur India, VCCircle, AutoTech).

Regularly invited to speak at international & national platforms (conferences, TV channels, seminars, corporate trainings, government workshops) on technology, patents, business strategy, legal developments, leadership & management.

Contact Us

FAQs – Frequently Asked Questions

Contact

+91 96502 47494

 

Level 18, One Horizon Centre,

Golf Course Road

DLF Phase 5, Sector 43

Gurgaon, Haryana 122002

India

Business Hours

Mon: 9:00 AM – 6:00 PM
Tue: 9:00 AM – 6:00 PM
Wed: 9:00 AM – 6:00 PM
Thu: 9:00 AM – 6:00 PM
Fri: 9:00 AM – 6:00 PM
Sat: 9:00 AM – 6:00 PM
Sun: Closed