Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting, and business solutions organization, has won the award for the Best Patents Portfolio in the Large (Engineering) Enterprises category at the Confederation of Indian Industry (CII) Industrial Intellectual Property Awards 2019.
The CII Industrial Intellectual Property Awards aim to recognize enterprises which have embraced IP generation, protection and commercialization to fuel their business and economic growth. The jury for these prestigious awards was chaired by eminent scientist, Dr. Raghunath Anand Mashelkar, and consisted of leading academicians, consultants and experts with established credentials in the field of IPR from India. This is the third consecutive year that TCS has won this award.
TCS' sustained investments in research and innovation have been central to its success in partnering customers in their growth and transformation initiatives. It has over 1000 full-time researchers who take up promising themes in different industries and work closely with domain experts and account teams to harness the power of digital technologies to address enterprise-level business problems.
This has resulted in a strong portfolio of intellectual property such as products, platforms and patents that form the essential backbone to create best in class technology solutions across many industries. TCS has been able to scale up its IP program by institutionalizing the entire IP lifecycle management with the IP 4.0 framework. The company has applied for 4,874 patents, and has been granted 1,121 patents, as of September 30, 2019.
"We have been empowering TCSers to be creative problem solvers. IP creation is an important part of TCS' future facing strategy, driving growth through technology-powered innovation. The company now views the 3Ps - Patents, Products and Platforms - as integral to its next phase of growth," said K Ananth Krishnan, CTO, TCS. "The CII Award is a recognition of TCS' success in this endeavor."
"Our visionary innovation model and sustained investments have resulted in a strong IP portfolio which is helping differentiate our solutions, and accelerate our customers' Business 4.0 journeys," said Dr. Santosh Mohanty, Global Head, Components Engineering Group, TCS.
This latest award from CII follows a host of other accolades received by TCS' IP program in 2019. Last month, TCS won the Asia IP Elite award in the category 'Internet and Software Team of the Year' at the Intellectual Property Business Congress Asia 2019 in Tokyo. Prior to that, it 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.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2016.75 as compared to the previous close of Rs. 2041.2. The total number of shares traded during the day was 192895 in over 8958 trades.
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