The Indian automobile industry has been the fastest and instant growing industry in the world and has also acquired a global position among some superpowers of the world. It is the industry that contributes about 5 percent of the total gross domestic product to the country. The automobile industry has been comprised of manufacturers, suppliers, dealers, retailers, fuel producers, and other environmental and transport safety groups. It has been dominated by the global manufacturing companies namely Toyota, Honda, Suzuki, Skoda, and Hero, etc. The companies have been contributing to the economic significance and importance. Henceforth, in the recent times, with the advancement of technologies, the companies are introducing innovative techniques in the sector.
The recent trend that has emerged in the sector is the patenting of these innovations and all other cars and other automotive vehicles. With the increasing technological developments, the demand for new product and improved standard of living has encouraged industries for innovating efficient equipment for a long-term involvement in the domestic and international competition. These innovations and technologies have resulted in the increased use of intellectual property rights, so that the inventions and all the new creations designs by the automotives are protected and the works are not exploited. Henceforth, the companies have started adopting intellectual property rights for protecting their original and creative works.
- There has been an increase in the counterfeiting of machineries or any parts of automobile, thereby leading to a great loss in revenue, and additionally in the violation of intellectual property rights.
- If any company is creating a new product or an invention, with all the fundamental essentials of novelty, inventive step and is of an industrial purpose, then the innovation would be liable for getting protected under patents.
- Designing as a whole is a very long and a time-consuming process. The companies can get their designs protected and then respectively use them in their other machineries and automotives.
- The innovations and inventions which are being introduced by the companies can be patented, so that they are protected from any kinds of exploitation and illegal use.
With the increase in the importance pertaining to intellectual property rights, the companies and the automobile sectors have started with new innovations and technologies at an accelerated speed. With these innovations and inventions, there are instances where the originality and the creativity get exploited. Thus, because of the increase in the illegal use of their inventions, the companies have started filing patent applications for their inventions in the sector of automobile. It was observed in the year 2020, that most of the patents were filed in the categories of mechanical engineering i.e., in the automotive industry. For instance, Tesla motors have patented 3304 of their innovations. Similarly, Honda Motors has applied and filed 376 applications in India for the term of five years and similarly Tata has been granted with 98 patents by the patent’s 0ffice, and additionally have filed more 80.
Branding is considered of an utmost important in the automobile sector, and the companies these days are getting their marks registered so that there is no economic exploitation of their marks and are not infringed. These marks can be protected under the realm of trademarks. For instance, for the purposes of branding and advertisement, the company name, Toyoda was changed to Toyota for making it more brand catcher and attractive for the consumers.
Thus, it can be stated that the innovations, brands, marks and all the content in the automobile industry can be protected under the realm of Intellectual property rights.
If you have any queries related to IPR, and want to get your works registered, kindly contact us through our website: www.biswajitsarkar.com.