A panel discussion on ‘Enhancing Awareness on Intellectual Property Rights’ was conducted under the banner of Business Standard Smart Business in association with WTC in Bhubaneswar.
With India becoming a start-up hub of the world, a deep understanding of Intellectual Property Rights (IPR) has become pivotal to protect the ideas, said the experts at a seminar on IPR here recently.
“It is a necessity for the students of engineering and management to have a basic understanding of the IPR. It has become critical because of the massive advancement of technology and rapid globalisation. It is important for every person launching an enterprise to understand the IPR. Now, in India this topic is of specific and special relevance because of Prime Minister Narendra Modi’s push to Make in India campaign and Start Up India mission”, said Sujeet Kumar, Special Secretary, Odisha Planning Board at the discussion.
“One of the big push for IPR has been the Start Up India mission and there is a huge focus on nurturing entrepreneurs for startup and helping them commercializing their ideas. Here IPR is playing a massive role”, he said.
Intellectual property is a concept just like any other property like land and the law allows protecting it. It is the property which is an output of the human mind. IPR may be intangible but nevertheless it has some value.
Intellectual property is a concept just like any other property like land and the law allows protecting it. It is the property which is an output of the human mind. IPR may be intangible but nevertheless it has some value.
The governing laws and jurisprudence allows the creator of the property not only to protect it but also to monetize it and punish anyone trying to infringe upon that property, he added.
Examples of IPRs are copyrights, trademarks, geographical indications and patents.
He stressed that the understanding of the IPR is crucial for those having entrepreneurial ambitions and are keen to start ventures of their own.
Speaking on the occasion, Avasi Mohanty, IPR legal associates, Lex Protector International Law Office said, “IPR rights can be transferred, assigned, licensed and sold.”
Mohanty apprised the audience present on the occasion about the legal ramifications of the trademarks and patents.
Dr. S.K. Sahoo, Director (In charge), MSME Development Institute, Cuttack threw light on the relevance of IPR for MSMEs and the schemes available for them.