Introduction:
Intellectual Property Rights (IPRs) are legal rights granted to creators and innovators to protect their intellectual creations. These rights encourage creativity, incentivize investments in research and development, and provide a framework for individuals and businesses to benefit from their innovations. The National Intellectual Property Rights Policy of 2016 outlines measures to support innovators and address societal needs while promoting innovation in India.
Body:
Measures for Innovators:
- Extended Reach-out: The policy emphasizes extending the impact of government policy actions to diverse sectors such as public and private enterprises, R&D labs, academia, and remote areas. For instance, offering tax relief to companies that invest a threshold of their profits in research and development activities.
- Rights of Professionals: Stricter IPR measures benefit various professionals including artists, farmers, and doctors. It provides protection for plant breeders, ensuring their efforts are recognized and rewarded.
- Commercialization of IPR: The policy fosters entrepreneurship by creating platforms for IPR holders, establishing an IPR exchange, and encouraging innovation among entrepreneurs and businesses. This supports MSMEs and PSUs in claiming IPR, promoting indigenous innovation.
- Enforcement and Adjudication: Strengthened IPR protection and enforcement boost technology development and protect innovators’ rights. It also provides adjudication mechanisms to address violations, ensuring fair treatment for IPR holders.
- Assessment of Research Needs: Conducting comprehensive baseline surveys of Intellectual Properties across sectors aids in identifying IPR potential in specific areas of national priority. This approach supports researchers and innovators working on critical issues.
Needs of Society:
- Safeguarding Traditional Knowledge: The policy seeks to protect traditional knowledge such as Ayurveda, Yoga, Naturopathy, etc., preventing misappropriation while allowing development for the benefit of society.
- Technological Assimilation: By offering IPR protection, the policy encourages the absorption and indigenization of technology. This promotes growth through investment by global IPR-centric companies, fostering a technology-rich ecosystem.
- Industrial Growth: A stronger IPR regime attracts global firms in sectors like defence, aerospace, aviation, and nuclear power to invest in India. This assurance against technological theft encourages industrial growth.
- Quality and Affordability: Granting product rights to local manufacturers and creators incentivizes improvements in product quality and affordability, leading to the monetization of IPR.
Conclusion:
The National IPR Policy of 2016 recognizes the crucial balance between protecting the rights of innovators and addressing societal needs. By promoting innovation across sectors, safeguarding traditional knowledge, and encouraging technological assimilation, the policy aims to propel India towards becoming a global innovation hub. However, challenges such as the ‘evergreening of patent’ and ‘compulsory licensing’ need careful consideration to achieve this goal while maintaining a fair and effective IPR framework.