Newgen gets Indian Patent for Data Compression Innovation
In a significant development, Newgen Software has announced that the Indian patent office has granted a patent (No. 565385) for inventing the System and Method for Data Compression. This patent has been filed for a term of 20 years commencing from April 26, 2017, in accordance with the provisions of the Patents Act, 1970.
Data compression is a critical technology that plays a vital role in the digital ecosystem. With the increasing amounts of data being generated every day, compression techniques have become essential to reduce the storage requirements and improve data transfer speeds. Newgen’s innovative data compression technology is designed to efficiently compress and decompress data, making it an essential tool for various industries such as banking, healthcare, and finance.
Newgen’s System and Method for Data Compression is a unique innovation that uses a combination of algorithms and techniques to compress data to a significantly smaller size. The patent application was filed by Newgen Software in 2017, and after a rigorous evaluation process, the Indian patent office has granted the patent.
The patent is a testament to Newgen’s commitment to innovation and research and development. The company has been at the forefront of developing cutting-edge technologies that cater to the evolving needs of the digital landscape. With this patent, Newgen has demonstrated its expertise in data compression and its ability to develop solutions that are both efficient and scalable.
The impact of this patent on the data compression industry is significant. It provides a competitive advantage to Newgen and its clients, who can now leverage the company’s innovative technology to reduce storage requirements and improve data transfer speeds. Moreover, the patent also opens up new opportunities for Newgen to partner with other companies and organizations that require data compression solutions.
“The grant of this patent is a significant milestone for Newgen, and we are thrilled to have received this recognition from the Indian patent office,” said Diwakar Nigam, MD & CEO, Newgen Software. “Our innovative data compression technology is designed to make a significant impact on the data compression industry, and we are confident that it will benefit our clients and partners in the long run.”
Newgen’s System and Method for Data Compression has several benefits, including:
- Improved data transfer speeds: By compressing data to a smaller size, the technology enables faster data transfer speeds, which is essential for industries that require real-time data transfer.
- Reduced storage requirements: The technology reduces the storage requirements for data, making it an essential tool for industries that require large amounts of storage space.
- Enhanced data security: The technology provides an additional layer of security for data, as it makes it more difficult for unauthorized users to access the data.
In conclusion, Newgen’s grant of the Indian patent for its System and Method for Data Compression is a significant achievement that demonstrates the company’s commitment to innovation and research and development. The technology is designed to make a significant impact on the data compression industry, and it provides a competitive advantage to Newgen and its clients. As the company continues to innovate and develop new technologies, it is likely to remain a leader in the data compression industry for years to come.
