Outsourcing is not new for the country like India. It was started dates back during 1960s. Business Process Outsourcing (BPO) is the long-term contracting out of non-core business processes to an outside provider to help achieve increased shareholder value. BPO saves precious management time and resources and allows focus while building upon core competencies. After BPO, India has now set its sights on becoming a global hub for knowledge process outsourcing (KPO). Knowledge Process Outsourcing (KPO), a new terminology is evolved for the business related to the patents and intellectual property.
As India has the second largest English speaking scientific manpower pool in the world after the U.S. most of the Global competitors are looking forward to India to outsource their IPR needs related to patent searching, prior art search, infringement and validity search etc,. In a survey it was found that Indian graduates cost 50%+ lower than the U.S. and initial setup cost are half those in U.S. According to the Rick Wills, CEO, of Tektronix Inc.
"In India, free-market reforms are creating the world's largest back office, transforming the country into a major force in IT, Outsourcing, and critical service application delivery."
Confederation of Indian Industry (CII) study saying that KPO would grow at 46 per cent to become $17 billion sector by 2010. The BPO industry, only 26%. Global KPO pie in 2010 will be around $17 billion of which $12 billion (70%) will be outsourced to India.” Thus KPO is going to be global hub for the country like India. Areas with significant potential for KPO include pharmaceuticals, biotechnology, and ICT, besides legal support, intellectual property research and design and development for automotive and aerospace industries, CII stated.
KPO involves high-end processes like valuation research, investment research, patent filing, legal and insurance claims processing, patents and prior-art search, etc. India with its knowledge base and lower costs will be leading the pack in the race for KPO businesses.
The economy of an industry is fueled by its innovation and thus there is a need to protect your innovations in order to make money from them. The firm protection of intellectual property requires a planned investment of both time and money. There are many ways by which you can protect your invention to avoid others making money from your efforts. When a company starts of thinking of a new project or going to file a patent for a newly developed product, it is suggested to conduct a state-of-art search or prior art search. This service is provided by many KPO firms in India at reasonable cost and better quality.
Thus it is assumed that KPO will be a global hub among the student in Indian in near future, with more demand for the people expert in this area.
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