National IPR policy: Key things you must know!

Zee Media Bureau

New Delhi: Finance Minister Arun Jaitley informed media on Friday that the Cabinet has approved the National Intellectual Property Rights (IPR) Policy. It is being considered as a landmark move for several reasons since it will create awareness about IPRs among the society. The new National Intellectual Property Rights Policy will safeguard commercial interests arising from creativity -- like music, books, industrial drawings, software and even drugs and pharmaceuticals.

What is National IPR policy?

National IPR policy is a vision documen that seeks to safeguard trademark identities and will promote creativity, innovation and entrepreneurship. From now onwards there will be a proper institutioal mehcanism in place that will help in incorporating global best practices in the India economy. Unlike earlier where copyright was accorded to only books and publications, the recast regime will cover films, music and industrial drawings. A host of laws will also be streamlined -- on semi-conductors, designs, geographical indications, trademarks and patents. The policy will be monitored and supervised by the Department of Industrial Policy and Promotion.

The new policy lays down seven objectives:

- Create public awareness about the economic, social and cultural benefits

- Stimulate Indians to generate material for intellectual property protection

- Have strong, effective laws, balance the individual and national interests

- Have a modern and service-oriented administration

- Create value from protected innovations through commercialisation

- Strengthen enforcement and adjudicatory mechanisms

- Promote capacity building through human resources, institutions training and research.

With IANS inputs