India has seen a dramatic improvement in its patent-granting process, moving from fewer than 10,000 patents annually in 2016-17 to over 1,00,000 patents in 2023-24. This surge in patent approvals, driven by extensive reforms and increased efficiency in the patent office, signifies a significant transformation in India’s intellectual property landscape. Yet, the patent for a sealed crustless peanut butter and jelly sandwich in the US from 1999 showcases how trivial and mundane “inventions” can dilute the true purpose of patent protections. When low-quality patents covering non-novel or obvious inventions are granted, they disrupt the system’s foundational purpose—to incentivise innovation while balancing the costs of monopoly distortions. This shifts the patent system from a stimulant to a deterrent of innovation.

Source: Indian Express May 22, 2024 03:16 UTC