Abstract:
Patent authentication and management (PAM) protects individual and organizational intellectual property rights across the world. Patents are territorial, and patent applications are handled by local intellectual property (IP) authorities. As a result, the inefficient and time-consuming nature of the PAM process occurs on a global scale. Because of data management problems in the patent procedure, there are conflicts and legal proceedings among the applicant parties. Blockchain provides decentralized, secured, and transparent systems with immutable records. As a result, it might be seen as an innovative approach to patent domain challenges. The purpose of this study is to demonstrate how blockchain technology may help improve the PAM processes. Interviews with relevant stakeholders and literature reviews were conducted to determine the procedures and constraints of the present system.
