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

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...
Post a Comment
Read more

SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv

By
  The Reserve Bank of India’s Deputy Governor Swaminathan J on Friday instructed the directors of small finance banks (SFBs) to be vigilant and proactive in identifying emerging risks in the sector.Speaking at a conference for directors on the boards of SFBs, Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models.Additionally, he highlighted the need for strengthening cybersecurity to protect the entities against digital threats and urged for a stronger focus on financial inclusion, customer service, and grievance redressal to ensure a broader reach of banking services.Executive Directors S C Murmu, Rohit Jain, and R L K Rao, along with other senior officials representing the Supervision, Regulation, and Enforcement Departments of the RBI, also participated in the conference.   -  Business Standard  30 th  September, 2024
Post a Comment
Read more

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

By
  Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement.   If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...
Post a Comment
Read more