Ones to Watch in IP, 2016
Chadha & Chadha is a full service Intellectual Property Law Firm, established in 1967 with 10 offices across India. We handle all aspects of IP work from prosecution and protection to enforcement and litigation, as well as licensing and transactional IP matters. We also advise clients on global IP strategies and on creating valuable IP assets and portfolios.
Our people are the most important asset to our practice and they have shaped our way to success. We are proud to have some of the best minds in IP at work in our firm with a strong desire to collaborate with the clients to maximise the value of their IP and this allusion has been the stepping stone for our firm on its way to success.
Intangible assets, such as brands, know-how and reputation are “most important and valuable” for businesses in the current economic situation. This is extremely well summed up in a famous observation by Tom Goodwin: “Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.”
It is indeed an interesting time for businesses as the intangible assets take precedence over tangible assets as well as over the more traditional business models. Businesses who have realised the potential of Intellectual Property Rights in not just brick and mortar businesses with R&D facilities but also in knowhow, reputation and strong brand value, have managed to leverage their IP to create great success stories across the globe in a relatively short time.
It is quite important for organisations to protect IP assets across the globe and to maximise the value of IP assets. In changing times where product and businesses have a rather short life span and some of the great technology companies have taken a dive in less than 10 years, IP assets are an absolute necessity to gain exclusivity for several years and to keep the competition out for a considerable length of time.
In fact, IP assets are a major reason for success of some of the greatest companies such as Microsoft and Apple who kept the competitors out of business for the longest possible time. Licensing is also becoming an extremely useful tool in expanding businesses across the globe with local players, which proves to be the more successful strategy in several large economies with diverse cultures.
Several success stories of leveraging IP assets and also enforcing IP rights by companies such as Qualcomm lead the way for new age organisations looking to maximise the value of their IP assets.
Developing, Exploiting and Safeguarding IP Assets
Business leaders are now on the lookout for leading specialists and “out of the box” solutions for safeguarding and exploiting their IP assets, more than ever. In a global economy, which is flooded by a huge number of IP applications across countries and through various treaties, access to IP assets and knowledge base has become easily available.
The standard approach and solutions do not help companies in getting ahead of competition and several companies are engaging specialists who offer them support in finding new solutions in safeguarding and exploiting their IP.
The Rapidly Growing and Ever-Changing Field of IP
In our firm, we offer a combination of techno-legal business minds, who are experts in technology and law and skilled in understanding business trends and needs. Our partners and attorneys in the firm attend educational courses at renowned institutes such as the Harvard Business School, and the Indian Institute of Management (IIM - the top ranked Business school in India), to keep abreast with developments in economies and directions for the future. These courses help our attorneys, several having dual degrees in Science and Law, in developing cohesive strategies for businesses in consonance with the rapidly growing and ever changing IP, legal, business and technological fields.
Challenges for the Future
Our biggest challenges have been to bring down the time lines for obtaining IP protection in India, and to enhance the liability for IP infringement by more liberal and frequent use of punitive damages by Courts in India. While we have seen positive developments on both fronts, there is still a long way to go. With a strong commitment to IP rights being demonstrated by the Indian Government, and several initiatives taken as a part of National IPR policy, we believe we will see major positive developments by end of 2017 in both aspects.
Company: Chadha & Chadha
Name: Mr. Chetan Chadha
Address: F-46, Himalaya House,
23 K.G. Marg, New Delhi
- 110001, India