The US Chamber of Commerce's Global Innovation Policy Center (GIPC) and Industry body Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with US-India Business Council (USIBC) on Thursday hosted the second edition of the India-US Dialogue on Intellectual Property (IP) in New Delhi to discuss ways to deepen bilateral strategic cooperation between the two countries on Intellectual Property policy.
The event saw participation of leaders from the US and Indian government as well as the Indo-U.S. business community.
The 'IP Dialogue: Opportunities for U.S.-India Collaboration,' an initiative on IP-led innovation, brought together experts from India's Department of Industrial Policy and Promotion, Indian Patent Office, and the U.S. Patent and Trademark Office, along with thought leaders from IBM India, Gujarat National Law University, USPTO, UC Berkeley, Indian movie and music industries and RELX among others.
The discussions focused on joint opportunities and challenges related to the whole spectrum of IP, including patent filing, regulatory landscape, copyright and infringement, technology transfer, and enforcement.
The aim was to identify solutions, share technical knowledge and expertise between both countries in the IP domain while providing a platform to experts from both countries to develop a stronger understanding of the need for uniform IP frameworks and arrive at solutions in a collaborative way.
With a vision to safeguard confidential business information, GIPC and the Indian government also published their first-ever joint project - 'A Guide to protecting Trade Secrets' for Indian businesses on trade secrets. Trade secrets are the type of intellectual property most relied upon by businesses all over the world to retain a competitive advantage. This tool kit aims to guide Indian businesses especially MSMEs and Start-ups regarding the protection of trade secrets.
Speaking at the event, Patrick Kilbride, Senior Vice President of the U.S. Chamber's Global Innovation Policy Center, said "Innovation has revolutionized life in India. Competitiveness, going forward, is rooted in IP-led innovation. India is on the rise, some modest upgrades to the IP system in India will propel innovation in the country to the next level. India has an opportunity to get ahead, drive domestic growth and be an engine for global economic growth."
"Since India and US both are innovation economies, If India succeeds in becoming a leader in the global knowledge economy, U.S. industries will also benefit. This will not only enhance mutual success growth but also augment the strong relations between both countries," he added.