The Evolution of Intellectual Property Valuation around us

The beginning of 2021 is undoubtedly a rare occasion. We're still in the middle of an outbreak, and numerous countries are still on alert. The introduction of vaccinations worldwide is on the horizon, and the global economy remains robust despite trade challenges. In 2021, staying on top of a fast-changing intellectual property valuation enforcement and brand protection environment will necessitate more concentration in many cases.

Artificial Intelligence in Intellectual Property (IP) Searches:

Artificial intelligence is bound to change many aspects of our lives, including our homes and health. AI is now widely used in internet research and home appliances with speech recognition, and it is expected to become much more common in the future years.

AI is becoming more prevalent in patent and trademark searches, according to several IP proprietary organizations, and this trend is expected to continue in 2021:

·         The USPTO (United States Patent and Trademark Office) has begun to employ artificial intelligence (AI) to assist with patent classification and searches to make examiners' jobs easier. This has resulted in a significant increase in examiner efficiency in terms of time management and accuracy.

·         The EPO (European Patent Office) has also stressed why AI may assist with prior art investigations. Therefore it's safe to assume that AI will be used to help APAC (Asia-Pacific) inventors with prior art searches and analysis of their innovations.

·         Today, a legal system has been established inside French legislation to safeguard some AI-generated inventions and creations. As a result, firms need to determine their intellectual property assets' value and take advantage of this fantastic opportunity. Other legislative bodies, hopefully, will follow suit.

What's Next in Artificial Intelligence and Intellectual Property Valuation?

In retrospect, we believe that innovators, lawyers, and legal theorists would have focused their efforts on persuading intellectual property administrations around the world — and the lawmakers who write the laws and rules that govern them — to provide the general public with a platform to grant inventor status to systems that create innovative, beneficial products.

The transition to fully use AI in Intellectual Property valuation has begun, but it must accelerate. To keep up with the breakneck speed at which the world around us evolves.

Trends in Intellectual Property in the Digital World:

Brands Aren't Turning a Blind Eye:

Brand enforcement methods will become more common in the first half of 2021, and brand owners will realize that using their trade names and product names on services is an expensive venture.

The enforcement of IP rights in online commerce is becoming a significant problem for brand owners. They cannot ignore the reality that counterfeit goods are still made and delivered; brand owners are deciding how to invest resources to eliminate evident digital services and fight the hidden manufacturing business responsible for this.

Global Customs in the Spotlight:

Even though import and export are significant sources of supply, many countries' customs administrations have failed to create anti-counterfeiting activities.

States that mass produce phone products will face continued pressure to end their massive illegal counterfeit export trade, and e-commerce networks will be pushed to adopt technical and other monitoring measures to relieve the burden on removal procedures.

Piracy of content is no longer a thing of the past:

Anti-piracy is no longer primarily an offline issue but has shifted to a digital one. This creates a new sense of urgency for tech-based innovators to come up with ways to limit pirated content's access to broadcasts, data, and signals.

Regulatory Practices in the IT Industry Based on Intellectual Property:

We believe that as new trends emerge in international intellectual property legislation and practices, increasing pressure will be placed on the digital world's information technology industries.

IT-based digital platforms are realizing that they need to do more to protect their technology, especially in light of emerging Intellectual Property valuation-based challenges such as online networking live-selling, group buying, celebrity marketing, and replica acquisition as a hobby.