It’s Time For Startups To Use AI To Battle Tech Giants In Patent Wars

Technology giants such as Alibaba and IBM are eating startup innovators’ lunch. These behemoths are seeking to devour even more market share by publishing patents at unprecedented speed in emerging technologies such as blockchain.

As some of the richest companies on the planet, the corporations have the resources to manage the laborious search of existing patents and to overcome the outdated administrative hurdles so that they can file for intellectual property rights.

Patents are definitely old school. Patent laws started with the rise of the nation-state, so they began in the 18th century and were then fully developed in the 19th century. Some changes may have been made to reflect new technologies, but the basic patent laws haven’t evolved to meet the needs of the 21st century.

We’re patenting ideas based on today’s high-tech of artificial intelligence and blockchain with laws that were established centuries ago.

All this puts early-growth companies with game-changing inventions at a huge disadvantage.

Getting a patent is one of the most important strategic decisions a business can take. A patent not only protects a business idea from copycats, but it can also increase the value of the young company.

One of the reasons value increases is because a patent can block others from a market. Once a startup has it, they can make sure nobody else will enter that particular segment.

In a recent study, conducted by KISSPatent on patents in the specific field of blockchain, results showed an arms race between Alibaba and IBM. The Chinese e-commerce giant has published 10 times more blockchain-related patents than IBM in 2020, a year when blockchain patent numbers are generally skyrocketing. More blockchain-related patents were published in the first half of 2020 than in all of 2019, a year that had already seen three times more blockchain

Flipkart, Paytm, Zomato gear up for IPOs; India’s internet giants up for listing in 2021 and beyond



With the entry of these internet giants, the IPO market could be on its way to become more appealing to retail investors.


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With the entry of these internet giants, the IPO market could be on its way to become more appealing to retail investors.

Internet giants Flipkart, Paytm, Zomato, Big Basket and others could be in for making their stock market debuts in 2021 and beyond that, said a report by global brokerage and research firm Bernstein. These Indian unicorns are now household names in tier-1 and tier-2 cities across India and have a significant stake in their respective industry. Recently, stock markets have witnessed a rush of initial public offerings, and retail investors have been at the forefront when it comes to subscribing to these issues. Individual investors have oversubscribed all the IPOs in recent months.

With the entry of these internet giants, the IPO market could be on its way to become more appealing to retail investors. Serving the e-commerce, fin tech, ed tech, and food delivery industry these companies are expected to see their business flourish with the augmentation and acceptance of the internet ecosystem in India. However, so far none of these companies have initiated any proceedings with the market regulator that could hint that they are seeking to be listed on bourses.

Flipkart

The leading e-commerce website in India is valued at $25 billion, according to the last round of funding which was in July this year. Backed by US-Retail giant Walmart, Flipkart is battling it out in the e-commerce space with Amazon and now Reliance Jio Mart. “E-Commerce in India has low penetration, but the market is growing rapidly. E-Commerce is expected to grow more than five-fold to US$133 Bn by 2025,” the report noted. Currently e-commerce has a low penetration in India with less than 5% of the market share but the same is pegged to cross 10% by

Tech giants have skirted regulation because of how monopolies are defined by law. Democrats now want to rewrite those laws.



a close up of a logo: Business Insider


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Business Insider



Jeff Bezos standing in front of a television: Amazon CEO Jeff Bezos testifies via video conference during the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law hearing on Online Platforms and Market Power in the Rayburn House office Building, July 29, 2020. Graeme Jennings-Pool/Getty Images


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Amazon CEO Jeff Bezos testifies via video conference during the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law hearing on Online Platforms and Market Power in the Rayburn House office Building, July 29, 2020. Graeme Jennings-Pool/Getty Images

  • Now that House Democrats have completed a sweeping antitrust investigation into Facebook, Apple, Amazon, and Google, they’re prepared to introduce new laws to curb the tech giants’ power.
  • The 449-page report published by the House Antitrust Subcommittee on Tuesday, as well as public statements by Democrats on the heels of the report, signal how they might go about changing the laws.
  • Antitrust court decisions in recent decades have focused on consumer welfare, but Democrats say laws need to be updated given that many tech companies don’t charge consumers for their products and have wide-ranging impacts on workers and other businesses.
  • Meanwhile, Republicans have signaled that they’re on board for some — but not all — of Democrats’ plans for new antitrust laws.
  • Visit Business Insider’s homepage for more stories.

In their scathing report published on the heels of a 16-month investigation into Apple, Amazon, Facebook, and Google, House Democrats concluded that the four companies are powerful monopolies the likes of which America hasn’t seen in over a century.

“Companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons,” they wrote.

But now, in order to regulate the companies, Democrats say the antitrust laws that were used to lasso robber barons of centuries past need to be majorly updated.

Lawmakers on the House Antitrust Subcommittee said they want to move quickly to introduce new laws in the coming weeks and months that could

House Panel to Seek Breakup of Tech Giants, GOP Member Says

(Bloomberg) — A House panel led by Democrats investigating competition in the technology sector is poised to propose sweeping reforms to block giants such as Amazon.com Inc. and Apple Inc. from both owning marketplaces and selling their own products on them, according to a critique of the recommendations by one Republican member of the subcommittee.



Mark Zuckerberg, chief executive officer and founder of Facebook Inc., top right, Jeff Bezos, founder and chief executive officer of Amazon.com Inc., top center, Sundar Pichai, chief executive officer of Alphabet Inc., bottom left, and Tim Cook, chief executive officer of Apple Inc., center left, are displayed on a monitor while swearing in during a House Judiciary Subcommittee hearing in Washington, D.C., U.S., on Wednesday, July 29, 2020.


© Bloomberg
Mark Zuckerberg, chief executive officer and founder of Facebook Inc., top right, Jeff Bezos, founder and chief executive officer of Amazon.com Inc., top center, Sundar Pichai, chief executive officer of Alphabet Inc., bottom left, and Tim Cook, chief executive officer of Apple Inc., center left, are displayed on a monitor while swearing in during a House Judiciary Subcommittee hearing in Washington, D.C., U.S., on Wednesday, July 29, 2020.

The critique and the panel’s report are still drafts and the contents of both could change. It’s not clear which members will endorse the report, whose release has been delayed because of last-minute information regarding Facebook Inc., CNBC reported earlier. The report was expected this week, but it’s been pushed back, according to a person familiar with the matter.

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The recommendations, which would represent the most dramatic overhaul of competition law in decades if approved, are the result of a yearlong investigation by the House antitrust panel led by Democratic Representative David Cicilline. That probe is coming to its conclusion as federal and state antitrust enforcers are also investigating Alphabet Inc.’s Google and Facebook.

Cicilline’s recommendations would include what he has called a Glass-Steagall law for technology platforms, according to the draft discussion paper from Republican Representative Ken Buck of Colorado, which was reported on earlier by Politico and obtained by Bloomberg. Buck said that recommendation and some others in the staff report would be “non-starters” for the GOP. Glass-Steagall refers to the

CEOs of 3 tech giants to testify at Oct. 28 Senate hearing

This combination of 2018-2020 photos shows, from left, Twitter CEO Jack Dorsey, Google CEO Sundar Pichai, and Facebook CEO Mark Zuckerberg. They are expected to testify in an Oct. 28, 2020 Senate hearing on tech companies’ control over hate speech and misinformation on their platforms.

This combination of 2018-2020 photos shows, from left, Twitter CEO Jack Dorsey, Google CEO Sundar Pichai, and Facebook CEO Mark Zuckerberg. They are expected to testify in an Oct. 28, 2020 Senate hearing on tech companies’ control over hate speech and misinformation on their platforms.

AP

The CEOs of technology giants Facebook, Google and Twitter are expected to testify for an Oct. 28 Senate hearing on tech companies’ control over hate speech and misinformation on their platforms.

The Senate Commerce Committee voted last week to authorize subpoenas for Facebook CEO Mark Zuckerberg, Sundar Pichai of Google and Twitter’s Jack Dorsey to force them to testify if they didn’t agree to do so voluntarily. Spokespeople for the companies said Monday that the CEOs will cooperate.

The hearing “must be constructive and focused on what matters most to the American people: how we work together to protect elections,” Twitter said in a tweet in its policy channel.

The hearing will come less than a week before Election Day. It marks a new bipartisan initiative against Big Tech companies, which have been under increasing scrutiny in Washington and from state attorneys general over issues of competition, consumer privacy and hate speech.

The executives’ testimony is needed “to reveal the extent of influence that their companies have over American speech during a critical time in our democratic process,” said Sen. Roger Wicker, a Mississippi Republican who heads the Commerce Committee.

Facebook, meanwhile, is expanding restrictions on political advertising, including new bans on messages claiming widespread voter fraud. The new prohibitions laid out in a blog post came days after President Donald Trump raised the prospect of mass fraud in the vote-by-mail process during a debate last week with Democratic rival Joe Biden.

With Trump leading the