Implications of Patents on Emerging Technologies Adoption

Patents acquired by innovators in early stages of a technology development, when the concept is experimented in R&D (Research & Development) labs, can impede the development of later generation of products. The increased entry barrier for new vendors, as observed in two representative domains of Virtual Dressing Room, and Geo-fencing can harm the development of implementation ecosystem and hinder widespread commercial adoption. Currently, IT service providers are looking forward to grow alternate sources of revenue, by investing in various emerging technologies, for developing new product platforms and modernizing the existing ones, too. In this scenario, they need to professionally manage intellectual property (IP), and ensure adequate protection from IP-related litigations.