Union Commerce and Industry Minister Piyush Goyal launched the first AI and machine learning search tool from India, which would dramatically ease the trademark registration process. The result is a radical prospect that promises a one-touch clear case once it reaches the examination stage, greatly simplifying and saving time while also making the process far more efficient and accurate.
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Meeting the rising demand for trademarks
According to Goyal, the new tool was a transformative device: "AI will help clear trademark applications much faster and more efficiently." Trademark applications have been at an all-time high in India; thus, registration is carried out using more impactful systems. The new AI-based tool will help accelerate the clearance process and ultimately make the experience more seamless for applicants.
Today, India has emerged as the third-largest filer of trademarks in the world, which speaks of the robust demand for trademark registration. In a little over five years, the intellectual property landscape of the country has registered perceptible change with over 100,000 patents granted over the past year, whereas the number was only 6,000 in 2014-15. This surge speaks volumes of the growing importance of intellectual property rights in fostering innovation and entrepreneurship.
Introduction of IP Chatbot
Goyal also introduced an IP chatbot that will assist users by immediately answering queries concerning trademark applications. This is going to help guide businesses and others in a more timely way while registering trademarks.
BHASKAR: A step toward collaborative innovation
The launch of BHASKAR, Bharat Start-up Knowledge Access Registry, also happens to be one of the recent initiatives by Goyal in making collaboration possible within India's vibrant start-up ecosystem. It shall promote knowledge exchange and innovation, besides further entrenching India's position in the global start-up ecosystems.
The initiatives undertaken by the Indian government are committed to simplifying the trademark registration process so that it meets the needs of a rapidly transforming economy and facilitates ease of doing business in the country.
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