With the Internet of Things (IoT) gaining popularity and getting integrated sectors, across businesses are incorporating cellular standards from 2G to 5G to enhance their products, processes, or services. And the products cut across sectors, including security, transportation, construction, healthcare, and more. The technology also promises massive economic benefits for Indian companies and the country.
India's loT market grew to USD 1 billion (around Rs 82 billion) last year and is projected to experience a 14.23% growth between 2023 and 2028. Within this context, standardised cutting-edge technologies are often protected by standard essential patents (SEPs) that are necessary to implement a standard or technical specification. Such SEPS, for example, can enable loT devices to communicate with each other via the Internet. SEPs are typically available on fair, reasonable, and nondiscriminatory (FRAND) terms and conditions, which are determined by the parties in good faith licensing negotiations.
NEED FOR A PATENT POOL
This story is from the July,2023 edition of Voice and Data.
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This story is from the July,2023 edition of Voice and Data.
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