Digital transformation of the economy (sometimes referred to as the fourth industrial revolution) now provides companies with the opportunity to secure additional business value via patenting new technology-based solutions.
The two most significant areas of opportunity for patentability exist in computer technology and digital communication – as these fields provide the tools to help provide technical applications to fields including healthcare, real estate, transportation and artificial intelligence (AI).
Digital communication encompasses telecommunications and computers (including numerous technical applications), and is helping making staying connected, working more efficiently and living safer, healthier lives — much easier. Notably, patent applications in this area rose 20% in 2019. And the EU is an attractive destination for digital communication patent opportunities and innovation. Among the most important and high growth areas of digital communication which have seen increases in patent applications are digital information transmission and wireless communication networks, which help enable faster data transmissions.
Computer technology has also seen a significant increase in patent applications. This growth is occurring in a wide variety of industries beyond IT — including medicine and security. Patent applications in computer technology are seeing increases in machine learning, and image data procession and retrieval.
The increase in patent applications at the European Patent Office (EPO) is being driven by not only European companies, but also increasingly those from Asia and the United States. These companies are often seeking to harness the power of IP to secure a leadership position in emerging essential digital technology fields. Digital communication and computer technology are now at the core of the EPO’s patent application processing – helping render it a major part of the fourth industrial revolution.
As patents are playing an increasingly integral role in helping companies strategically protect their innovations and increase their market success — companies should therefore seek to ensure their patent protection as well as monetization strategies — keep pace in this landscape.
We are well placed to help your organization learn how you can patent your technological innovations, including the filing process related to fourth industrial revolution technological innovation, We are well versed in how to create a company-wide system for identifying and nurturing patentability at all levels – in order for companies to fully leverage all their proprietary innovation.