Status of the world's economy is changing

The world is through a period when the dynamics dramatically changed and priorities were reset. As the global dynamics are reshaped, "domestic" production efforts that will be effective for the national economy are gaining greater importance day-by-day. Healthcare-related patent applications became a top priority for the economies of countries because of the process we've been through.

As we wonder when the coronavirus pandemic-Impacting everyone around the globe since December 2019- will be neutralized, we are also curious about the remaining effects of the pandemic after it ended. Several people think that there will be remaining and permanent effects of the pandemic on world's economy.

"In the new economic order, there will be more and more cross-sectoral inventions"

Kemal Yamankaradeniz, the Chief Executive Officer of Destek Patent expressed his thoughts about the existing world order that will be changed by the COVID-19 pandemic:

"We are on the edge of a new economic era. Every country came to realize their defects, particularly in healthcare and medical sectors. I strongly believe that this period will create a revolutionary and accelerating effect. In addition to the healthcare sector, all other sectors and industries will be introduced to a new process when they will meet each other and cooperate as a result of the new era. Every sector will have to get rid off their defects as part of the shared wisdom within the scope of upcoming projects and inventions that will be conducted in cooperation with other sectors. Industrially, we will come across more and more inventions made by the joint efforts of the people particularly in the fields of engineering and healthcare.

"Production and patent will be the rising values"

During this period, we once again understood how important production is. When countries had to close their borders to their neighboring countries, people had to be on their own to solve their problems. When this period ends, countries will have to use their own resources and solutions to even produce a tiny pin. The export approach at competitive prices, which was agreed by several agents in international trade until today will have to be replaced by a self-produced system. In the production stage as well, the inventions and patents that will be created to address today's requirements will be more important. Tendency to inventions and patenting will be more precious for a value-added production. We will need to create more and more trademarks and designs. There will be a momentum in making money from licensing.

"Different demands emerge as perspective on life changes"

Our perspective on hygiene has also changed due to the virus. We will be checking everything when we go to a restaurant in contrast with our old behaviors and habits. That is, it refers to an arrangement and needs to be required for the replanning of all the production stages (from agricultural activities to the consumers). Efforts and projects with hygienic priorities will be taken into consideration. As a result of these arrangements, there will be a huge volume of production, technology, and inventions as subjects of patents."

"We have a potential for production that we shouldn't miss"

Highlighting that they observed there are increasing demands for patents in the last 15 years in Turkey, and stating there will be more patent applications if there is an increase in the production, Kemal Yamankaradeniz, the CEO of Destek Patent concluded his words as follows:

"The efforts of our SMEs are not enough. This is mostly the reason why we do not have confidence as a society. However, we have knowledge and creative ideas, so, we can easily declare that 'We are here'. We have a potential for production. We should use that potential as an opportunity in pharmaceutical sector and defense industry and so on. Furthermore, we should understand that firms' success is not the only factor for maximizing the revenue, but cross-sectoral cooperations are equally important. The SMEs should remember that they can better maximize their potential and revenue via patents, instead of conventional ways of solution."