The automotive industry is complex and always evolving. Carmakers are coming out with new technologies all the time, and it's often difficult for rivals in the industry to keep up with the latest developments from their competitors and know what they're up against.
If you know what innovations are being patented, you can stay one step ahead of the fast-evolving market.
There is one way for competing businesses to get a leg up, though, and that's by closely monitoring the latest patent filings. If you know what innovations are being patented, you can stay one step ahead of the fast-evolving market.
A window to the automotive future
Monitoring patent registration, in Australia and elsewhere, is a great way to keep up with where the industry is heading. For instance, according to The Wall Street Journal, automakers worldwide are watching Silicon Valley in the U.S. to see what new technologies are coming.
"The pressure is for us to invent before the Valley does," Ford's Bill Coughlin said. "The last thing we want is to be a fast follower."
Right now, Ford is trying to patent a new drone system for a robotaxi, and BMW is developing a new communication system for driverless cars. Toyota is working to make certain car parts such as door pillars appear see-through. By watching all these developments, car companies can try to adapt and stay competitive.
Ready to patent your own innovations?
Under intellectual property law in Australia, one way to stay competitive in a fast-evolving industry is to get innovation patents as soon as you come up with a new product idea. IP Australia points out that this can be a worthwhile strategy if you're developing products (such as cars) that might have a short market life and then be superseded by newer innovations.
Generally, innovation patents are granted within a month of filing the application, which makes it a quick and easy route to getting IP protection for your business. Additionally, when you have a capable lawyer by your side, that process is even simpler.
Get a lawyer who can help
If you're trying to keep your business viable in a competitive industry like the automotive field, you'll need to act quickly when it comes to protecting your IP. At Alder IP, we can help with that. Our team of patent lawyers in Sydney are ready to step in and guide you through the patent process and anything else you may need help with.
Whether you've got an entire, fully formed new idea or just a tweak on an existing product, we can help you make it yours and yours exclusively.