NASSCOM welcomes the National IPR Policy and applauds it for encompassing the entire value chain spanning across IPR Awareness, Generation, Legislative Framework, Administration, Commercialization, Enforcement and Adjudication, Human Capital, comprehensively covering all aspects of the domain.
The Policy has reformed the current administration by making Department of Industrial Policy and Promotion the nodal point coordinate and guide future development of IPRs in India while responsibility for actual implementation of the plans of action will remain with the Ministries/ Departments concerned in their assigned sphere of work. This single umbrella approach will help leverage linkages between various IP offices. The proposed Cell for IPR Promotion and Management (CIPAM) to be constituted under the aegis of DIPP, would be an important connection with the inventors and innovators.
NASSCOM had in its interaction with the think tank had highlighted difficulties that companies face in monetizing intangibles like IPR. The Policy has captured the concerns suitably and their proposal to create a ‘simple loan guarantee scheme to encourage start-ups’ based on IPRs as mortgage-able assets; financial support and securitization of IP rights for commercialization by enabling valuation of IP rights as intangible assets through of appropriate methodologies and guidelines, and enabling legislative, administrative and market framework are in the right direction. Further, specific references to promoting use of OSS, as well as support for IPR generation for ICT technologies, including those relating to cyber security for India are welcome.
As product life cycles shrink, timeliness of grant of IPR is critical for its relevance. We welcome the Policies focus on modernization of offices, adoption of service orientation by improving the quality of service, search facilities and information made available to inventors and other stakeholders. Administration and enforcement of IP rights requires time bound processes. The Policy has rightly identified it as a priority area in addition to initiatives outlined for capacity building at various levels including adjudication, enforcement and protection. The IT industry is committed to partner with the DIPP in the modernization efforts. Further, Periodic reviews and updates of IP related rules, guidelines, procedures will ensure an effective IPR regime and NASSCOM is committed to work closely with the DIPP as the policy is implemented to support an innovation led Industry in India.