The Cabinet has approved the National Intellectual Property Rights Policy, Finance Minister Arun Jaitley informed on May 13, 2016.The aim is to create awareness about economic, social and cultural benefits of IPRs among all sections of society.What is the National IPR Policy?
According to the government, the National IPR Policy is a vision document hat 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 adapt global best practices to the Indian scenario.
Objectives of IPR Policy:
- IPR Awareness: To create public awareness about the economic, social and cultural benefits of IPRs among all sections of society.
- Generation of IPRs: To stimulate the generation of IPRs.
- Legal and Legislative Framework: To have strong and effective IPR laws, which balance the interests of rights owners with larger public interest.
- Administration and Management: To modernize and strengthen service-oriented IPR administration.
- Commercialization of IPRs: Get value for IPRs through commercialization.
- Enforcement and Adjudication: To strengthen the enforcement and adjudicatory mechanisms for combating IPR infringements.
- Human Capital Development: To strengthen and expand human resources, institutions and capacities for teaching, training, research and skill building in IPRs.