Tata Consultancy Services was Recognized for Incorporating Intellectual Property at the Heart of its Strategy and Successfully Using Patents as Strategic Business Assets
TOKYO | MUMBAI, November 6, 2019: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, has won the Intellectual Asset Management (IAM)’s Asia IP Elite award in the category ‘Internet and Software Team of the Year’ at the Intellectual Property Business Congress Asia 2019 in Tokyo.
The jury selected TCS for the award for successfully using patents as strategic business assets, based on extensive research and detailed market feedback. Other shortlisted contenders in this category included the likes of Alibaba, Tencent, Didi and Fujitsu. This is the fifth consecutive year that TCS has made the Asia IP Elite 2019 list which recognizes companies across Asia that demonstrate a sustained commitment to building best-in-class in-house IP functions and continuous excellence in IP value creation.
TCS’ focus on research and innovation is demonstrated through its structured program, IP 4.0, that covers the entire lifecycle of a patent, from conceptualization to monetization. The program aims to responsively deliver outcomes with long term sustenance and structured governance. TCS maximizes the value derived from its intellectual property by leveraging it for the benefit of customers’ businesses and helping them in their Business 4.0™ journeys.
“We are seen by our customers as their preferred partner for their growth and transformation initiatives because of our deep domain knowledge, backed by a large portfolio of intellectual property, including accelerators, products and platforms. At the heart of this capability is our award-winning IP 4.0 program which has been immensely successful in encouraging employees to create intellectual property in the form of patents and other reusable assets for TCS,” said Dr Santosh Mohanty, Head, Components Engineering Group, TCS. “We are honored to receive these recognitions and look to continue to spearhead IP leadership.”
TCS has been at the forefront of research and innovation, with domain experts collaborating with technology specialists to come up with innovative solutions to business problems across different industries. The sustained investments have resulted in a strong portfolio of intellectual property such as patents and reusable assets that forms the essential backbone to create best in class software across many industries. The company has applied for 4,874 patents, and has been granted 1,121 patents, as of September 30, 2019. Recently, TCS also won the National Intellectual Property Award 2019 in the category ‘Top Public Limited Company/ Private Limited Company for Patents & Commercialization in India’ and the World Intellectual Property Organization’s IP Enterprise Trophy.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 450,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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