For businesses, Innovation is the most important means of staying competitive in the marketplace, and one of the most effective ways to keep that competitive advantage is to protect innovative ideas through patents.
Innovation is also an important measure of research performance. We encourage Innovations by protecting and rewarding intellectual contributions through Patents. These Patents serve as indicators of long-term competitiveness and are a sign of our Company's innovative strength.
Since 2002, a total of 54 patents have been granted to Galaxy. Currently, 12 patents in USA, and 2 patents each in China, the European Union and Japan, 3 patents in Russia and 6 patents in India are being maintained by us. We have applied for an aggregate of 34 patents globally, of which 18 applications have been made in India, and an aggregate of 16 applications have been made for the patent in Brazil, China, the European Union, USA and under the PCT.
Galaxy has a principle of maintaining due diligence in its business transactions involving investigating its position with respect to Patent landscape.
Our in-house IPR Group conducts a "product clearance" investigation by proactively identifying, capturing, studying, and scrutinizing Patents in the technological area of our products, thereby minimizing the risk of infringement by securing their "Freedom to Operate".