The software industry body National Association of Software and Services Companies (Nasscom) welcomed the National intellectual property rights policy, which was approved by the Cabinet on May 13.
Nasscom said it “applauds it (policy) 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 asked for the Department of Industrial Policy and Promotion (DIPP) to become the nodal point department for all IPR related developments in India, while respective ministries or departments will be responsible for actual implementation.
“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,” said Nasscom in a statement.
Nasscom further said the policy had incorporated the association’s suggestions to the think tank that was looking at IPR policy last year.
The proposal for 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 appropriate methodologies and guidelines, and enabling legislative, administrative and market framework are in the right direction.
Nasscom also lauded the policy promoting use of free and open source software. “The support for IPR generation for information and communications technology including, those relating to cyber security for India are welcome,” it said.
It further said that the IT industry will 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,” Nasscom added.
Source: The Economic Times
