National Intellectual Property Rights: An Analysis
- Intellectual Property Rights (IPR) refer to rights provided to individuals or organizations pertaining to specific innovation or invention in products or processes for a certain period of time.
- India ranks extremely low on the global Innovation and IPR scale as suggested by the 76th rank it obtained in the Global Innovation Index 2014. In an attempt to address this issue, the Government of India has also declared this decade as the ‘Decade of Innovation’ and is working towards establishing an institutional set-up to promote innovation.
- Recently, India’s patent laws have come under scrutiny due to judgments passed in the Supreme Court related to patents in the pharma domain that have gone against global pharmaceutical companies.
- The National IPR Think Tank, a 6 member commission chaired by Justice Prabha Sridevan was set up to review the existing IPR policy, make recommendations to further strengthen and improve the same, make suggestions on increasing administrative efficiency as well as highlight best practices related to IPR around the globe.