Skip to main content

Register trademarks in just one month

By
Cabinet clears intellectual property rights policy to boost innovation
The Cabinet has approved an intellectual property rights policy aimed at strengthening the regime and improving infrastructure.
The policy, a long time in the making, names the department of industrial policy and promotion (DIPP) under the commerce ministry as the nodal body for the government’s IPR push.
The policy would act as a road map to coalesce existing laws, DIPP Secretary Ramesh Abhishek said. Accordingly, administration of the Copyright Act, 1957, and the Semiconductor Integrated Circuits Layout-Design Act, 2000, have been brought under DIPP. A cell in DIPP will facilitate creation and commercialisation of IP assets.
The policy aims to increase IPR outreach, speed up approvals, enhance commercialisation, and enforce norms, Finance Minister Arun Jaitley said on Friday.
Customising IPR programmes for various sectors and reaching out to traditional knowledge holders will be focus areas. A baseline IP audit has been suggested as has been making IPR a compulsory part of the curriculum at major national institutes. The need for a national research institute on IPR has also been made out.
The policy said India should develop indigenous products to offset growing foreign dependence, like that on active pharmaceutical ingredients imports from China. The policy seeks a stronger institutional monitoring mechanism and suggests cells at the state level to curb IP offences. The DIPP aims to lower the average time for clearing pending IPR applications to 18 months from 5-7 years. This involves bringing down the time for registering trademarks from 13 months at present to one month by 2017. Commerce ministry data showed more than 2,37,000 patents were pending approval.
The US pegs losses from piracy of music and movies in India at approximately $4 billion per year and the commercial value of unlicensed software at $3 billion. India claims the US is trying to pressure it to enhance IPR protection beyond the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement that sets minimum standards for forms of IP regulations for WTO members. Jaitley said all aspects of the policy were compliant with global norms. The US also criticises specific provisions on drugs in India’s patent laws. Jaitley said Section 3 (d) of the Patents Act, which stopped evergreening of patents, would remain.
PROMOTING INTELLECTUAL PROPERTY FOCUS AREAS OF NEW IPR POLICY
  • Awareness campaign on IP generation targeting small enterprises, rural citizens
  •  
  • Enhancing access to health care, food security and environment by leveraging IP
  •  
  • Cell for IPR Promotion and Management to function under DIPP for creation and commercialisation of IP assets
  •  
  • Administration and implementation of IP-related laws (Copyright Act and Semiconductor Integrated Circuits Layout-Design Act) brought under DIPP
  •  
  • State-level cells to be created to prevent IPR thefts
  •  
  • Major national institutes to make IPR studies compulsory
Business standard New Delhi,14th May 2016

Comments

Post a Comment

Popular posts from this blog

RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

By
  India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said.   Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm
Post a Comment
Read more

Credit card spending growth declines on RBI gaze, stress build-up

By
  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the rep
Post a Comment
Read more

India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

By
  India can’t rely on wealthy individuals to drive growth and expect the overall economy to improve, Viral Acharya, former deputy governor of the Reserve Bank of India (RBI) said on Monday.Acharya, who is the C V Starr Professor of Economics in the Department of Finance at New York University’s Stern School of Business (NYU-Stern), said after the Covid-19 pandemic, rural consumption and investments have weakened.We can’t be pumping our growth through the rich and expect that the economy as a whole will do better,” he said while speaking at an event organised by Elara Capital here.f there has to be a trickle-down, it should have actually happened by now,” Acharya said, adding that when the rich keep getting wealthier and wealthier, they have a savings problem.   “The bank account keeps getting bigger, hence they look for financial assets to invest in. India is closed, so our money can't go outside India that easily. So, it has to chase the limited financial assets in the country and
Post a Comment
Read more