Patent Business Lawyer in Asia

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

Mobile based payments using smartphone applications and handheld devices has resulted in a striving competition between financial institutions (banks), technology corporations (Apple, Google, Samsung) and startups (PayPal, PayTM, MobiKwik). Consequently, number of patents filed in FinTech sector have increased exponentially across the globe indicating strong propagation of innovative FinTech solutions worldwide.

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As per views of FinTech patent experts, patent attorneys, corporate law firms and technology lawyers, extensive investment has been done in the research and development (R&D) to bring new technology and products to the market across the globe. FinTech patents have been filed in aplenty by both tech startups and conventional financial institutions (financial service firms, banks etc.).

Launch of new and innovative smartphone applications (mobile apps) in financial technology sector indicates a dynamic shift in consumer behavior while availing financial services across broad range of sectors, such as, for example, banking, investment management, insurance, lending, digital and mobile payments, capital markets, credit risk assessment, financial advisory, accounting, taxation etc.

Analysis of FinTech patent landscape reveals that major patent filers are from US, China, UK and Europe, while leading patent players include traditional financial institutions like Visa, Mastercard, Bank of America, Barclays, Vodafone etc, and technology companies like Facebook, Apple and Google.

After reviewing relevant patent classifications, it can be determined that most of the innovations for which FinTech patents are filed include customer identity verification, biometrics, digital currencies, cryptocurrency, mobile applications, mobile apps, mobile platform, cloud computing, blockchain, Internet of things (IoT), artificial intelligence (AI), big data, P2P transfer, mobile wallets, and the like.

What are Blockchain and Bitcoin?

Blockchain is world’s leading software platform for digital assets that includes a decentralized digital database to facilitate secure online transactions. Multiple legal issues can impact the Blockchain technology at present and in near future. With regards to cryptocurrencies like bitcoins, Blockchain provides a safe digital ledger for the bitcoin network. Hence, bitcoin can be termed as a digital currency (cryptocurrency) experiment resulting from Blockchain innovation. In May 2017, bitcoin surged to record high of $2900.

In coming years, majority of banks and financial institutions will use Blockchain technology for commercial contracts and transactions. For example, Dubai Blockchain Strategy aims to establish a roadmap for issuing all government documents on Blockchain by 2020.

This has led to inception of another term, “Internet of Agreements”, which implies use of technology to deliver machine-to-machine handling of agreements for international business transactions. Accordingly, Blockchain is bound to impact technology solutions for banks, insurance companies and financial corporations.

Bitcoin Laws – Role of Bitcoin Lawyer

Bitcoin’s evolution from Blockchain technology has resulted in certain laws and regulations, however, case laws and regulations for virtual currency (digital currency) are emerging with time as no fixed laws exist at present. Consequently, entrepreneurs, fintech startups and businesses have to focus on compliance, money laundering regulations, etc.

Blockchain Laws – Role of Blockchain Lawyer

Applications can be used to determine ownership, chain of transactions, authentication, identity validation, digital evidence and discovery. Accordingly, multiple legal issues can arise pertaining to data security, criminal activity, prevention of theft, black marketing, malware, money laundering, data privacy, protection and infringement of intellectual property rights, including, software patents, mobile app patents, hardware patents, bitcoin patents, fintech patents, Blockchain patents, copyrights, trademarks and design patents.

What is a patent?

Patent is a legal right granted by government for an invention. The patent rights are granted to inventors and applicants for 20 years from the date of the filing of first patent application. The right granted to patent owners is a negative right, which implies that the patent owner has the exclusive right to prevent patent infringement, i.e. to stop third parties from making, using, selling, offering for sale and/or importing any product or technology protected by the claims of the patent.

What are patent claims?

A patent application includes multiple elements, and patent claims form the heart of the patent invention as legal protection is granted for features included in the patent claims. Generally, patent claims are drafted by experienced patent attorney to describe the invention being protected. To ensure that patents are registered after passing the legal eligibility test of patentability, patent attorneys ensure that the claims are drafted in a manner such as to describe an invention that is new, useful and non-obvious in view of the “prior art”, wherein prior art refers to all the public knowledge and inventions that existed before the filing date of the patent application.

What does a patent protect?

A patent protects the functionality of an invention, which is extremely crucial in case of technology solutions embodied over Internet by way of handheld devices, such as, smartphones and tablets. In case of mobile app patents, execution of novel applications across the communication network can be protected by way of patents by focusing on a combination of software and hardware implemented aspects of the invention, which are written in the requisite details in the patent description along with a strong set of patent claims drafted thoroughly by the patent lawyer.

Why are patents important for technology companies?

Patents form a valuable component of a company’s intangible assets and investors consider patents as true strength of innovative technology companies. Patents signify that companies have strong and defensible business model that cannot be easily replicated by the competitors. A proactive and well formulated patent strategy results in robust investment prospects for early stage technology companies and tech startups.

Journey of my blog from LinkedIn to 30+ news portals

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

Flagship Speaking Engagements

Patent Forum (Munich, Germany) | News Channels | Ministry of Corporate Affairs | ASSOCHAM | FICCI | Brand Licensing India | BioEnergy International

Featured Publications

Economic Times | The Hindu | BioSpectrum | International Bar Association | LawAsia | SwissInfo | Global Legal Post | HT Live Mint | Outlook Money

Summary:

Inventors and small business owners have always found the patent strategy a complicated maze for navigation, and patent attorney Rahul Dev has recently launched an innovative intellectual property creation program to address such needs. Not only this program is cost-effective, his decade long experience as patent attorney and technology business lawyer has proven to be an invaluable asset during development of this program aimed at innovative companies worldwide.

Rahul Dev, patent attorney and corporate lawyer, has launched a new small business program, called ITPAS (Ideas to Patents and Strategy), which will seek to expedite the process of creating valuable patents with a view to add value to a company’s intangible assets. The idea is to get global inventors and innovative business owners to define the title and ownership of creative business models, which can further be patented across multiple jurisdictions (US, Europe, Asia Pacific), subject to the patent eligibility criteria.

This would mean lesser chances of disputes between Startup CoFounders in cases one or more founders decide to leave the venture midway. ITPAS would create a means to sidestep the often long and complicated process of defining and claiming intellectual property ownership.

“It is a strategic patent creation program intended to really eliminate the friction of the possible conflicts relating to patent ownership,” explained Patent Attorney Rahul Dev in an interview. “So the typical patent process for small businesses and individual inventors is challenging, exact patent scope and rights of ownership are difficult to identify for both clients and patent lawyers. Clients tend to start out really high believing their innovative products will disrupt the market and patent lawyers tend to start out really low citing complicated procedure to obtain patent rights, and negotiations can take months instead of weeks.”

Dev further explained, “So what this program really does is instead of filing full-fledged patent applications right away, clients are counselled to first define their inventions in a proprietary format provided to them, which is subsequently vetted to determine the most valuable and innovative features. Thereafter, such features are protected by way of an initial level IP protection, including provisional patent applications, copyrights, trademarks and design patents. This helps in saving costs and in certain cases, strong contracts and agreements are drafted to ensure protection via trade secret.”

“Future plans include actively growing the patent consulting portfolio,” Dev said. It is part of the broader efforts to grow the patent consulting practice beyond Asia growing forward and expand the business in US and Europe.” In past, Rahul Dev has handled multiple issues regarding false defamation on social media (Facebook, LinkedIn and Twitter), and while this isn’t directly related, you can likely bet his experience in getting defamatory content removed promptly by closely communicating with legal cells of tech companies is helping this aggressive new IP creation strategy.

Media coverage: 247 News, DNews, Daily News Tech, New York Time Magazine, PR Press, Daily Media, PR Wire

Internet of Things (IoT) Patent Attorney: Software Patent FAQs:

General Patent FAQs:

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

Flagship Speaking Engagements

Patent Forum (Munich, Germany) | News Channels | Ministry of Corporate Affairs | ASSOCHAM | FICCI | Brand Licensing India | BioEnergy International

Featured Publications

Economic Times | BioSpectrum | International Bar Association | LawAsia | SwissInfo | Global Legal Post | HT Live Mint | Outlook Money

Tech Corp Legal – Indian Law Firm

Tech Corp Legal LLP is an international law firm specialised in business and technology law providing patent drafting (software patent drafting, mobile app patent drafting, patent drafting for computer related inventions), searching, filing and PCT national phase services along with trademark and other aspects of Intellectual Property Rights in addition to corporate law practice governing cross-border M&A transactions, technology licensing, agreements and contracts.

Article source.

IoT Patent Inventions

IoT, or the Internet of Things, is bound to impact healthcare, consumer goods, education, industrial manufacturing and transportation at an unexpected pace and to counter next-gen legal issues, proactive technology lawyers, international patent attorneys and strategic advisors are required to update their knowledge and skills regularly. Get in touch now to discuss your queries with for IoT patent experts in areas of intellectual property rights, patents, life sciences, high technology and corporate lawyers.

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IoT implies an infrastructure of networked physical objects forming an ecosystem including sensors, smart devices, networking capabilities, advanced data analytics and cloud services. Considering the complex nature of IoT, it presents various opportunities and challenges to multiple stakeholders, including consumers, technology corporations, software companies, hardware manufacturers and service providers.

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Enterprise and Industrial Aspects

Opportunities include connecting equipment and devices, building domain expertise and customer relationships. Threats include security and shaping platform standards.

Network

Opportunities include new products and services via connected networks, edge analytics and real-time services. For example, patient monitoring in hospitals, quality control in factories etc.

Challenges include long standing relationships with new equipment makers (Cisco, Ericsson, Huawei, Nokia) and telecom service providers. Challenges include improvement in connections and better services to locate, authenticate and connect remote devices. Additional challenges include lifecycle management services to maintain, upgrade and secure complex devices and sensor networks.

Data analytics

Opportunities exist for traditional analytics vendors (IBM, SAP), cloud service providers (AWS, Alibaba), system integrators for strengthening external customer relationships and to offer tailored products and services. Challenges include multiple data sources whereby selecting right ones for insights and decisions becomes difficult. As custom solutions grow, it can result in limited integration witFh2>
Opportunities include new products and services via connected networks, edge analytics and real-time services. For example, patient monitoring in hospitals, quality control in factories etc.

Challenges include long standing relationships with new equipment makers (Cisco, Ericsson, Huawei, Nokia) and telecom service providers. Challenges include improvement in connections and better services to locate, authenticate and connect remote devices. Additional challenges include lifecycle management services to maintain, upgrade and secure complex devices and sensor networks.

Data analytics

Opportunities exist for traditional analytics vendors (IBM, SAP), cloud service providers (AWS, Alibaba), system integrators for strengthening external customer relationships and to offer tailored products and services. Challenges include multiple data sources whereby selecting right ones for insights and decisions becomes difficult. As custom solutions grow, it can result in limited integration with broader data services.

Autonomous

Opportunities exist for latest technology sectors including robotics, drones and driverless cars, as most sensor information is collected locally and processed on board, which results in lesser need for remote data storage. Challenges include real-time capabilities and technologies, including computer vision, machine learning etc.

IoT – Applications and Examples

Internet of things have penetrated across multiple industry sectors and IoT applications can be seen in transportation finance, healthcare, retail, industrial automation and even the military. Some of the IoT examples include iBeacon (retail), smart industrial machines by GE, drones with powerful sensors for military applications, etc.

IoT Characteristics

Products embodying internet of things possess certain core characteristics, including, limited user interface (UI), limited processing power, limited bandwidth and limited battery life. Such characteristics provide a perfect combination for IoT applications that demand massive outreach without burdening the infrastructure.

Internet of Things – Legal Aspects

IoT devices and applications cover a diverse range of innovations eligible for creation of intellectual property rights by way of patents. Valuable Iot patent portfolios can be created by focusing on patentable IoT patent inventions, which get approved after preliminary prior art searches and patentability analysis.

Freedom to Operate – Joint Patent Infringement

Innovations can be launched after ensuring that there exists freedom to operate and any third party patent rights will not be infringed. In case of IoT based innovations, scenarios of joint patent infringement may be possible considering the interactive and collaborative nature of the Internet of Things.

While drafting patent claims and writing patent applications for IoT based inventions, quality of IoT patent is crucial for highlighting the inventiveness and novelty of the technology. In use, majority of innovations belong to the field of consumer devices and software. Secondly, IoT patents protecting next generation technological innovations may set industry standards or utilize existing ones, such as, BLE, 6LoWPAN, etc. Since most of inventions in this space are collaborative and interactive, patent owners may face patent enforcement issues.

Valuable IP and Patent Portfolios can be developed to include Internet of Things based innovations, which can be commercialized and monetized by exploiting the evolving nature of IoT.

Data Privacy in IoT applications

Owing to the big data generated by IoT applications and devices, drafting a data collection policy to suit the needs of the business is crucial. Across all stages of IoT, including manufacturing, use, generation and utilization of data, legal issues can arise. Key is to have strong understanding of core products and to engage in strategic counselling for creation and enhancement of IoT.

IoT Patent Lawyers and Patent Attorneys

Technology lawyers and patent attorneys working with clients in IoT sector have to understand their scope of work to cover telecom and consumer protection regulations. A thorough understanding of IoT based businesses is required to advise clients on multiple aspects, including, operations and infrastructure, growth and finance, privacy and cybersecurity regulations, IP disputes, payment systems, and related aspects of disruptive technologies.

IoT innovations are prone to raise ethical issues in collecting million devices, which can easily expand to a billion. Apart from issues pertaining to patent infringement, related issues include data security, data privacy, authentication, data and IP ownership, information governance, product liability programs, confidentiality, industry standards, educational outreach, equipment authorization, tax, custom compliance and legal strategy patent strategy, public policy, government representation, audits, international commercial and technology contracts etc.

Industry wise, IoT is bound to grow multifold in autonomous and e-mobility sectors, thereby requiring multi-tiered supply structure, application of telecom and media regulations, opportunities for information technology (IT) and media companies, cybersecurity in vehicles, payment models in cars, big data in automobiles, etc.

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Internet of Things (IoT) Patent Attorney: Software Patent FAQs:

General Patent FAQs:

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

Flagship Speaking Engagements

Patent Forum (Munich, Germany) | News Channels | Ministry of Corporate Affairs | ASSOCHAM | FICCI | Brand Licensing India | BioEnergy International

Featured Publications

Economic Times | BioSpectrum | International Bar Association | LawAsia | SwissInfo | Global Legal Post | HT Live Mint | Outlook Money

 

Tech Corp Legal – Indian Law Firm

Tech Corp Legal LLP is an international law firm specialised in business and technology law providing patent drafting (software patent drafting, mobile app patent drafting, patent drafting for computer related inventions), searching, filing and PCT national phase services along with trademark and other aspects of Intellectual Property Rights in addition to corporate law practice governing cross-border M&A transactions, technology licensing, agreements and contracts.

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Startup deals across various business and technology sectors are exposed to legal and regulatory landscape at various levels. Venture capital is constantly powering private equity investments through venture funding by VC firms and angel investments by angel investors.

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Indian government under the leadership of PM Modi has announced Startup India Action Plan and Policy, which includes multiple tax incentives, RBI incentives, incentives for ease of doing business in India, Intellectual Property Rights Incentives to file patents and trademarks via IP Facilitators etc.

Originally published here.

A crucial step for startup includes incorporation of the legal entity in India for doing business. Structuring of a startup business can follow different models, including, global business led by intellectual property, investments by promoters outside India, conducting business using offshore company in India, etc.

Most preferred legal entity for doing business in India is a private limited company, which can be incorporated under the provisions of the Companies Act, 2013. Startups can select between a private company that requires at least two directors or a one person company (OPC), which requires one director. Once a company is incorporated, post incorporation steps are required as guided by a chartered accountant (CA) and a corporate lawyer.

If business includes providing services to consumers, limited liability partnership (LLP) can be incorporated having two or more partners, who can be individuals or corporate entities.

While doing business, startup needs to execute various legal agreements and contracts, including, confidentiality & non-disclosure agreement (NDA), offer letter, employment agreements, non-competition agreements, non-solicitation agreements, intellectual property (IP) assignment agreements, employee stock options (ESOPs) plans, investment agreements, shareholder agreements, founders agreement, term sheet, and advisor agreements.

For startups conducting online business using internet, websites and mobile apps, additional measures are required for risk management, including IT Act Compliance, Content Regulation, Online Payment Gateways etc.

Startups leveraging intellectual property can secure corresponding IP rights (IPR) by way of filing patents, trademarks, copyrights and industrial designs in India and abroad under various mechanisms as allowed by WIPO, such as, the patent cooperation treaty (PCT), Madrid Protocol etc.

Lawyers with expertise in corporate law keep a track of startup developments worldwide along with niche across different technology sectors, including, but not limited to, Enterprise Infrastructure, Enterprise Applications, Internet of Things (IoT), Wearable Technology, Smart Homes, Smart Cars, Smart Cities, Semiconductors, 3D Printing, Consumer Robotics, Industrial Robotics, Drones, Virtual Reality (VR), Augmented Reality (AR), Space Technology, Artificial Intelligence (AI), Advanced Materials, Chatbots, Display Technology, Marketplaces, Hyperlocal Delivery startups, Food Tech, Auto Tech, Online Travel, Logistics tech, Real Estate Tech, Online Retail, eCommerce, Online Grocery, Mobile Commerce, FinTech (Financial Technology), Mobile Communication, Online Dating, Matchmaking, Sports Tech, Wedding Tech, Mobile Gaming, Fashion Tech, Mobile Apps, Social Networking, Social Platforms, Big Data, Mobile Payments, Mobile Advertising, Payments, Crowdfunding, Bitcoin, Finance & Accounting, AdTech, HealthTech, Mobile Health, Telemedicine, Fitness & Wellness, Healthcare Information Technology (IT), Healthcare Analytics, Biotech, Pharma, Life Sciences, Medical Devices, Energy, CleanTech, Telecom and SaaS (Software as a Service).

Rahul Dev, Partner at the law firm of Tech Corp Legal LLP, is a patent attorney and international technology business lawyer. Dev’s corporate law practice is aimed at integrating patents, technology laws, intellectual property rights, regulatory and security laws to provide services to Tech companies.

Patent Drafting Resources

  1. Patent Drafting and Writing Strong Patent Applications for Creating & Protecting Inventions

  2. Patent Application Writing Guide | Ultimate Cheat Sheet for Drafting Software Patents and Mobile App Patents

  3. Patents in MedTech – Online Healthcare & Medical Practice Management

  4. Patent Research & Analytics | Where Patent Analytics Are Headed – Harnessing Power of Patent Analytics for Patent Strategy

  5. Frequently asked questions (FAQs) | Drafting and Writing Provisional & Non-Provisional Patent Applications (Specifications)

  6. How and Why are Patents Important for Technology Companies & Startups In Asia?

  7. How can Patent Search help in determining Patentability of Invention?

  8. What is the meaning of Patent Pending Status?

  9. What are advantages of Filing a Provisional Patent Application?

  10. What is a Provisional Patent Application?

About Us – Indian Patent Law Firm

We, at Tech Corp Legal LLP, an Indian law firm serving global clients and patent attorneys worldwide, provide quality patent drafting services to inventors. Along with patent support services provided by GIP Research, we offer top quality patent specification drafting services including enforceable patent claims and high quality patent illustrations.

Our team of patent attorneys and technical patent experts has comprehensive experience in executing projects pertaining to international patent drafting, patent drafting services, drafting patent claims and patent applications, software and mobile app patents, provisional and non-provisional patents, patent searches, office action responses, etc.

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Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology & Corporate Laws. He is reachable at info (at) techcorplegal (dot) com & @rdpatentlawyer on Twitter

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Patent Basics and Intellectual Property Rights from Rahul Dev

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IPR Protection for Hardware Startups – Patents, Trademarks, Copyrights and Designs from Rahul Dev

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How to Hire a Startup Lawyer – Ultimate Guide to Understand Startup Laws from Rahul Dev

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