Introduction:
Intellectual Property Rights (IPRs) encompass the rights associated with creative and innovative creations of the human mind. IPRs serve to stimulate creativity, allowing creators to reap benefits from their innovations. Furthermore, they encourage investment in research and development by offering attractive financial incentives linked to IPR-backed ventures.
The National Intellectual Property Rights Policy of 2016 in India outlines measures to support innovators and cater to societal requirements in the realm of IPRs.
Body:
Measures for Innovators:
- Extended Outreach: The policy aims to extend government support to a diverse range of entities, including those in the public and private sectors, R&D labs, industry, and academia, even in remote areas. For instance, tax relief is provided for companies investing a portion of their profits in research and development, promoting a culture of innovation.
- Rights of Professionals: The policy recognizes the importance of IPRs for various professionals, such as artists, farmers (like planters and breeders), and doctors. It introduces stricter measures to protect their intellectual property rights, fostering a conducive environment for their contributions.
- Commercialization of IPR: The policy encourages entrepreneurship among innovators by offering platforms for IPR holders to showcase their innovations. Initiatives like creating IPR exchanges and facilitating MSMEs and PSUs in claiming IPRs stimulate innovation and business growth.
- Enforcement and Adjudication: Strengthening IPR protection and enforcement benefits technology development and foreign technology providers. This is relevant for individuals, government labs, content creators, and more. The policy not only focuses on enforcing IPRs but also outlines mechanisms for adjudicating violations on behalf of IPR holders.
- Assessment of Research Needs: A comprehensive survey of Intellectual Properties across sectors aids in assessing the IPR potential within specific domains. This initiative supports researchers and innovators in priority sectors by providing tailored policy measures.
Societal Needs:
- Safeguarding Traditional Knowledge: The policy aims to safeguard traditional knowledge, like Ayurveda, Yoga, Naturopathy, etc., from misappropriation. This protection coexists with the development of traditional knowledge for the betterment of humanity.
- Technological Assimilation: The policy underscores IPR protection’s role in encouraging technology assimilation and indigenization. It fosters an ecosystem conducive to investment by global IPR-centric companies in India, thereby promoting technology transfer and local development.
- Industrial Growth: By bolstering the IPR regime, the policy attracts global firms in defense, aerospace, aviation, and nuclear power sectors to invest in design and manufacturing in India. This strengthens the industrial landscape, creating substantial growth opportunities.
- Quality and Affordability: Granting product rights to local manufacturers and creators incentivizes ongoing improvements in product quality and affordability, driving the monetization of IPR.
Conclusion:
The National Intellectual Property Rights Policy of 2016 recognizes the dual objectives of supporting individual innovators and addressing societal needs. It strives to create an environment where innovation thrives while simultaneously safeguarding traditional knowledge and promoting industrial growth.
However, the challenges of ‘evergreening of patent’ and ‘compulsory licensing’ necessitate a balanced approach to realize India’s potential as a global innovation hub.