Here comes a new batch of technology — everything from IoT to virtual reality to drones and robots and more.
Need a patent for that? You will.
That’s why TechIPm — obviously getting a jump on this coming deluge — has announced the addition of a patent research and strategy consulting service.
“As the smartphone market matured, many companies are looking for the post-smartphone market that can generate new revenues,” the company said in a new announcement. “Many market researchers expect that the interconnected IoT (Internet of Things) devices will create a new market that will result in more than $ 1 trillion in value added to the global economy within 10 years. In the short term, wearable computing devices are expected to form an early IoT market by interconnecting body-sensing devices and providing useful personal services including healthcare.”
In other words, the market is going to be huge. And the companies sloshing around in it are going to need … well, they’re going to need a lot of things … but patents are definitely one of them.
“As we have seen in the smartphone market development, it is expected that the super-competition to preoccupy the leadership in the lucrative IoT market can lead to another round of patent wars,” notes the firm. “The post-smartphone patent wars, however, will be more extensive because of more extensive participation of players across several different industries. The post-smartphone patent wars will also be more complex because of the recent rapid change in legal environment and the learning curve from the smartphone patent wars. Therefore, more advanced and sophisticated patent strategy is required to prepare for the upcoming post-smartphone patent wars.”
The wars have already begun. The victors? That remains to be seen. And, well, litigated. But a patent is one way to draw some battle lines and protect a flank or two.