The Intellectual Property Rights | IPR Policy
Intellectual property is the making or inventing of an intellect and then getting a monopoly assigned to it so that it approves who the owner, by law. And as an owner of something that is your creation, you have the right to call it yours and possess a right for it which is known as Intellectual Property right.
The IP right also includes the process of attaining pattern rights, trademarks, and copyrights for those innovative inventions which plays a handy role on inventing drugs. In India, there have been many changes and modifications that have been made to make the intellectual property system more vibrant and balanced.
‘Creative India; Innovative India’
On 12th May the Union Cabinet has approved the National Intellectual Property Rights (IPR) which will make the intellectual property system more strong and will assure an improved and strong infrastructure India. The Policy wants to recognize the innovative and creative ideas in India and want to encourage them and to take them towards a brighter future.
Highlights of IPR’s Policy
The policy will have a well-established administrative and judicial framework so as to safeguard IPRs. It is said to have an institution which will take care of all the implementations, monitoring and review of the IPR policy and will try to incorporate global practices to the Indian culture.
A special report has been sent to the high courts of Mumbai, Kolkata, Delhi and Madras for a speedy disposal of the patent cases.
The policy works on the national slogan “Creative India; Innovative India” which would boost the Indian products rather than depending upon the foreign investments. The new IPR policy would encourage youths to get in to innovative creations and boost the entrepreneurship across the nation which is strong initiatives for nation’s growth.
Also the policy ensures the availability of essential drugs in affordable rates for all common people and provides food security which is mandatory for any government to provide better governance to its people.
As the per the new IPR’s policy, national Intellectual Property would be revised on every 5 years this will ensure that IP to be updated according to the current trend.
Below listed table elaborates the benefits of Implementing New IPR policy of NDA Government
| S.No | Benefits of New IPR Policy by NDA Government | Explanation |
| 1 | Pushes IPR’s as Financial Asset | The all new national IPR policy will be renewed for every 5 years, this will ensures IPR will be update to date and make sure on the availability of essentials things at affordable rates for common people |
| 2 | Safeguards Indian Pharma Industry | The new IPR comes with the backcloth of US Trade Representative in order to retain Indian Pharmacy trademarks |
| 3 | Encouraging IPR filings | The new national IPR policy encourages domestic IPR fillings which promotes researches and development. And also offers loan facilities to encourage new starts ups. |
| 4 | Availability of Cheap Drugs | New Policy ensures the availability of essential drugs in cheap rates for common people. Also it creates huge impact over foreign investment over drugs manufacturing which leads to the growth on Indian Pharma Industry |
| 5 | India’s Future Growth | The all new Intellectual Property Rights (IPRs) creates a drift on research and innovation which leads to the countries growth in economical aspects. Overall, this updated policy germinating fair IPR which leads to national growth |
Objectives of the Policy
The main objectives of the Policy are-
- To establish a fast moving and a well-managed system in order to govern and maintain the IPR. This would make more and more creative and innovative minds in India to put forth their works.
- The all new updated policy will push IPR level to new high, that will increases the research and innovation in the nation by making registration process much simpler.
- The Policy would aim in creating awareness about the social, economic and the other benefits of the IPR rights among the people in India.
- To have laws that will govern the IPR in a strong and an effective way. It will have to strike a balance between the interest of the owner and the larger public interest as well.
- The Policy will bring out ways in getting the value for the IP through proper means and efforts.
- To encourage skill building and development by setting up institution for training and researching of different skills and qualities. All major national institutes should have IPR studies as a compulsory subject.
- There would be state-level cells for the control and prevention of IPR thefts.
Below listed table discuss the facts which need to be known by every citizen of the nation about National Intellectual Property Rights.
| S.No | Things Need to Know About National IPR Policy | Explanation |
| 1 | What is National Intellectual Property Rights Policy? | National IPR Policy conceives of Intellectual Property, which is plays, an inherent part over the national development policy. |
| 2 | What is Intellectual Property? | The term Intellectual Property refers to property developed by the creative mind like Inventions, Artistic, and Literary. In General Countries Intellectual Property defines the national growth. |
| 3 | What is the Main Objectives of National IPR Policy? | National IPR Policy creates awareness among the people about the society developments like boosting employments, enhancing entrepreneurships in all aspects |
| 4 | What are the benefits of National IPR Policy? | National IPR Policy works on the Slogan “Creative India; Innovative India” which lays strong foundations for national development by the process of Make in India, Digital India, Smart Cities and many |
| 5 | How National IPR Policy helps for Inventors? | With the help of National IPR policy, talented minds can able to get patent rights for their new inventions or trademarks. |
Conclusion
With the government aiming at recognizing and encourage all the IP forms, and creating awareness on the benefits of the Intellectual Properties and the rights associated with it, it is surely going to be helpful in bringing up more and more new talent in India. The Creative India, Innovative India; is at a belief that knowledge is the main key for development and the Policy would encourage knowledge to the fullest which leads to the national growth.
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