“Further, when most people moved to virtual marketplaces during the complete lockdown in the country, e-commerce platforms exploded with both genuine products and counterfeits. Thus, companies sought urgent registration of their marks to protect themselves against these counterfeits. Moreover, certain new ventures came into existence solely due to the pandemic,” she added.
Among these ventures were those filing applications for trademarks that include “Corona” and “Covid.” Among these were ‘COVID-RELIEF,’ ‘COVIDSHIELD,’ ‘NOCORONA’, ‘DHL CORONAVIRUS PREVENTIVE’ and ‘CORONIL.’
Vijay and Madan believe this trend will continue in India.
“It has taken several years for mid-sized and smaller Indian companies to appreciate the worth and value that intellectual property brings to their business. Most of these entities viewed IP filings as an unnecessary expenditure, and the protection of their IP was almost an afterthought. However, I hope that the continual increase in trademark filings since June 2020 now signifies a growing recognition by these companies that trademark filings add value as well as safeguard their goodwill. For this reason, I truly believe that this trend isn’t a blip,” said Vijay, “it is one that will continue.”
“With certain countries witnessing multiple waves of this outbreak, there seems to be a lot of uncertainty regarding the end of the pandemic,” said Madan. “Having said that, ‘innovation fatigue’ shall play a significant role in determining the direction of this trend in trademark filings. With over a year of the pandemic, applications specific to Covid-19 may witness a slight decrease, however, the overall trend may continue to rise till life resumes normalcy.”
Vijay also believes that other countries in the region will likewise experience this trend, especially the developing economies where IP awareness is growing and the startup culture is strong.
But, there are the outliers. In the Philippines, trademark filings have gone down significantly for the first time since the establishment of the Intellectual Property Office of the Philippines in 1998.
“While such a decline can be attributed to a variety of reasons, the effects of the pandemic have been variable across different nations. Certain Asian countries are still struggling with digitizing their IP administrative processes while others ascribe this decline to the contraction in foreign direct investment,” said Madan.
Espie Angelica A. de Leon