National Intellectual Property Rights (IPR) Policy
By Team Legistify / 2016-09-20
Today, possession of land, labour and capital are just not enough for a country to succeed. Creativity and innovation are the new drivers of the world economy. The policies adopted by a country determine the public well being and how it is developing the trapped intellectual capital. An effective intellectual property system is the foundation of such a strategy.

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National IPR Policy will lay the future roadmap for intellectual property in India. It is a vision document that aims to create and exploit synergies between all forms of intellectual property (IP), concerned statutes and agencies. It sets in place an institutional mechanism for implementation, monitoring and review. It aims to incorporate and adopt global best practices to the Indian scenario.

National Intellectual Property Right Policy 2016: The Cabinet has approved the National Intellectual Property Rights (IPR) strategy on the 12th of May, 2016 to promote innovation, inventiveness, development, business enterprise and to make a bigger institutional structure to reinforce IPR administration, using the slogan " Creative India, Innovative India." The point is to create awareness about economic, social and cultural benefits of IPRs among all areas of society.

Impact of the New IPR policy

This policy shall weave in the strengths of the Government , research and development organisations, educational institutions, corporate entities including MSMEs, start-ups and other stakeholders in the " creation of an innovation-conducive environment, which stimulates creativity and innovation across sectors, as also facilitates a stable, transparent and service-oriented IPR administration in the country".

The Policy recognises that India has a well-established TRIPS-compliant legislative, administrative and judicial framework to safeguard IPRs, which meets its international obligations while utilising the flexibilities provided in the international regime to address its developmental concerns. It reiterates India’s commitment to the Doha Development Agenda and the TRIPS agreement.

Today, possession of land, labour and capital are just not enough for a country to succeed. Creativity and innovation are the new drivers of the world economy. The policies adopted by a country determine the public well being and how it is developing the trapped intellectual capital. An effective intellectual property system is the foundation of such a strategy.

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!


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