n a knowledge driven economy, one rule remains irrefutably clear: what’s not protected cannot be considered safe.
The same rule applies to innovations and new ideas, or more concisely, Intellectual Property (IP) that organizations generate during their day to day operations. Whether it is a unique film script, a medical breakthrough, or a technical innovation, everything needs to be protected under IP laws to prevent any infringements. And, as the Indian economy is getting tightly coupled with western economies, the need to protect IP has become even more critical. However, unlike in western countries, where organizations methodically follow predefined IP norms, in India many organizations are yet to define their IP strategies and practices, plan for their long term IP life cycles and intertwine into their corporate strategies. Nonetheless, things have been changing of late. Noticing rampant increase in IP infringement lawsuits all around the country and abroad, organizations are waking up to realize the need to protect their IP and develop a concerted strategythat integrates well with their day to day operations. Inventors, too, are realizing the importance of protecting the novelty of their inventions and the repercussions of not doing so. This newfound awareness about IP laws and the need to follow standard global business practices is forcing Indian companies to seek out qualified IP service providers. It has created an industry-wide demand and, resultantly, saw an influx of IP services firms in the market.
Today, if one is looking for a firm to manage acompany’s IP portfolio, they can surely find a myriad list of firms and LPOs to choose from. “Though most of them provide value added services and bill as per their T&M assignments, unfortunately, only few are capable enough to provide end-to-end IP related services with a global perspective, that too within a competitive cost structure,” saysPrakash Nama, Founder of Global IP service, a provider of full range of Intellectual Property services. A seasoned US patent professional, Prakash understands very well the role played by IP firms in terms of safeguarding IP portfolios. He firmly believes that the active involvement with qualified IP firms allows companies to grow and be successful in today’s competitive innovation driven business environment. Leveraging his 20 years of experience in IP sphere, he founded Global IP services (GPIS) in the year 2003, with an objective to cater to foreign and Indiancompanies located in India that thrive to grow across geographies.
Almost immediately many of the India, US and European multinational companies became clients of GIPS and this came as a golden opportunity for Prakash to prove his knowledge and years of work experience in the IP domain
With his years of work experience as an in-house and out-house IP Counsel for several multinational corporations and law firms both in India and abroad, Prakash is well aware of the benefits of IP firms being in close proximity with its clients. Considering the high involvement, he also developed a hybrid US IP law firm having India IP operations to work closely with the companies located in the US and India. Global IP now offers a wide range of IP services such as patent, trademark, and copyright protectionto its clients.
For several years, Prakash Nama worked inthe U.S with a law firm specializing in IP laws. Itwas early 2000s when Prakash often had to visit India to work with clients. During his frequent business tours, he realized the lack of awareness about IP laws among Indian corporations and the resulting industry widegap in the availability of qualified IP related services locally. Companies as well as their clients were clueless as to why and how to protect their inventions and what are the benefits of availing suchservices.
Along with that, he also realizedthat India was fast emerging as a global knowledge hub, and if it were to participate in the global marketplace, it had to accept and implement global IP standards and practices. He knew that a lot of research and development work were being channelized to India and China,and this work flow can significantlyincrease and change India’s growth trajectory. These realizations together pushed him to do something for the country. Prakash decided to start a, a US and European quality IP service operation in Bangalore.. Almost immediately many of the India, US and European multinational companies became clients of GIPS and this came as a golden opportunity for Prakash to prove his knowledge and years of work experience in the IP domain. Prakash says, “As India is changing, with businesses venturing into global markets, there is a definitive need to protect the Intellectual Property generated in the country.” Although, Prakash had started the company with firm determination, giving it a shape was not easy. It was Dr.Sridhar Mitrawho came as the saving grace. Henot only provided Prakash with the Office premise, but also gave himmuch needed guidance and moral support. The company thrived under Dr.Sridhar Mitra’s mentorship and Prakash’s hard work, and there has been no looking back ever since.
Being Client Centric is the Key
Global IP Services (GIPS) is one of the very few Indian IP firms that have a US-India hybrid business model. As a result, the company is uniquely positioned to provide IP services round the clock. GPIS provides comprehensive IP services starting from prior art search, Patent Drafting and Filing, Patent Prosecution, Paralegal services, Patent Proofreading, IP opinion and Valuation, and Trademark. Along with that, the company also counsels its clients on creation, development, enforcement, exploitation, protection, IP due-diligence and transfer of intellectual property rights.
The win-win business model followed by the company has helped it gain momentum among many multinational corporations. Whether it is their trademark, copyright or patent services, the company takes care of it right from the start tothe end. Besides, the companyprovides services to harvest ideas, educate inventors to start on new ideas, educate inventors on how to document them, help in setting up IPdepartments or cells within the MNCs. Describing the company’s strengths Prakash said, “We provide complete intellectual property services. With its 25qualified professionals, we serve around 100 clients. And to our credit, we manage over 10000 patent applications to our clients.” Although residing in India,attorneys at GIPS,provide U.S and European quality IP services. The company’s high quality service comes in a cost effective manner that combines personalized solutions as per the client’s requirements. During the engagement phase, the company works closely with its clients to ensure providing quality service timely.
The Talent Hunt
Prakash understands that every invention is unique and carries its own economic value. In most cases, extremely talented individuals with years of industry expertise are involved in creating new ideas. Capturing their idea quickly and thoroughly without wasting valuable inventor’s time is very important. GIPS, therefore, must employ equally talented engineers and patent attorney to work with theinventors. Attracting such talented and qualified IP professionals remains the biggest challenge for GIPS. As Prakash explains, “The Company is flooded with work requests from clients but the lack of IP professionals with the needed industry expertise, and the time needed to train them to provide the needed high quality IP service is our biggest challenge.” Each year, the Company spends ample time and effort to recruit the right talent with desired level of expertise.
Further stressing his concern, Prakash says, “Recruiting and retaining the talent from reputed colleges is very difficult. We have been pretty successful at it so far, though.” The company regularly conducts recruitment drives, but maintains very stringent hiring criteria. To ensure consistency in its processes and delivery model, the company provides rigorous and qualified training programs to its new recruits. The vibrant and supportive work culture coupled with comprehensive remunerative benefits has ensured long term employee retention for the company so far.
Taking the leap
GIPS stands apart in providing specialized IP services to hardware, software, mechanical, and biotech technology companies. Apart from Wipro and Airbus, the company’s client list includes several blue-chip companies such as Apple, HP, VMware, Inc., LSI Logic, BAE Systems and Texas Instrument, among many other tech biggies. GIPS operates from Boston, USA and Bangalore, India. Prakash says, “We provide quality patent prosecution at reasonable cost, and we focus on inventions originating from India and protecting worldwide based on client needs.”
On company’s future growth plan Prakash says, “We are planning to build our capabilities innew sectors such as pharma, biotech, electronics, software, and medical devices, all of which obviously has high IP service needs. In future, the IP services industry is going to grow in parallelwith the software and hardware industry.” Additionally, the company foresees growth with deeper account mining, increase in employee strength to 500 and increased engagements with its existing and new client base. Already an established player, GPIS is all set to venture into uncharted IP territories for its next phase of growth.