This week in the world of intellectual property, there have been some significant developments that are worth taking note of. Let’s dive into the latest news and updates in the IP world.
A Texas judge recently issued a preliminary injunction against the Federal Trade Commission’s proposed ban on noncompete agreements. This decision could have far-reaching implications on labor agreements, with concerns raised about the potential impact on trade secret theft. The court intends to rule on the ultimate merits of this action by August 30, 2024.
The World Intellectual Property Office (WIPO) released a report on generative AI, revealing that China has taken the lead in this field. Chinese inventors have produced a significant number of generative AI inventions over the last decade, surpassing other countries by a wide margin. The report highlights the explosive growth of generative AI patent filings since 2017, with China leading the way.
The FTC has initiated an investigation into Teva Pharmaceuticals after the company refused to give up patents for asthma inhalers, which have been deemed as junk patents. This move comes after the FTC’s attempt to challenge these listings to ensure consumer access to affordable generics. Teva remains firm in its stance, asserting that its patents are properly listed and essential to the company’s intellectual property.
In another development, the company behind former President Trump’s shoe line has filed a lawsuit against counterfeiters for copyright and trademark infringement. The lawsuit seeks damages for unauthorized use of their trademark and copyright, alleging that counterfeiters have undercut the company’s products.
Additionally, the Paris Division of the Unified Patent Court ruled a Dexcom patent invalid in a dispute with Abbott Laboratories, resulting in the revocation of the patent in all 17 UPC member states. The U.S. Court of Appeals for the Federal Circuit affirmed Google’s victory in a copyright infringement case, while the European Union Intellectual Property Office announced a reorganization focusing on AI to align with its 2030 strategic vision.
On the financial front, the European Commission imposed tariffs on Chinese electric vehicle manufacturers, citing unfair subsidization that threatens EU manufacturers. The Federal Reserve released minutes from its June meeting, indicating a commitment to hold off on cutting interest rates until inflation reaches its 2% goal.
As we look ahead, several firms identified among the IPO’s Top 300 Patent Recipients for 2023 are set to announce quarterly earnings next week. Stay tuned for updates from Ericsson, Wells Fargo, and J.P. Morgan Chase.
Please note that the information provided here does not constitute legal advice and is solely based on personal opinions and views. Stay tuned for more updates on the evolving landscape of intellectual property.