Impact of Indian Intellectual Property Rights (IPR) Policy On Indian Start-ups

India’s newly-framed Intellectual Property Rights or IPR policy has opened new avenues of growth for Indian emerging start-ups. It will boost intellectual property development through innovation, awareness, and commercialization. But, it needs to be interpreted in a broader perspective.

When Indian cabinet nodded for approval of IPR or Intellectual Property Rights policy 2016, it opened a mixed bag of industry emotions. While some are agreed to its positive implications, there are other industries that are not entirely impressed with its framework. Amid all these debates, Indian start-ups are set to gain stimulus from this policy and steer to unprecedented growth.

Apparently, this policy lays emphasis upon entrepreneurship aided by innovative and creative ideas. It has laid down an objective agenda driven by awareness, legal structure, commercialization, human capital development, enforcement, and adjudication as well as effective management.

What Is The Impact Of IPR Policy On Indian Start-Ups?

The key objective behind this policy was to incorporate global IPR practices in the Indian context and create better opportunities for the emerging businesses. Its implications on imminent enterprises include:

A Single-Umbrella Program to Foster Better Connection:

Through this IPR Policy 2016, Indian government aims to design a separate Cell for IPR Promotion and Management or CIPAM. This agency will work under the guidance of DIPP to act as a bridge between policy makers and innovators of Indian start-ups. Such support systems will foster better growth opportunities not only for new businesses but also for existing MSMEs.

A Simpler Loan Guarantee Scheme:

Government’s policy makers have considered easy loan guarantee for emerging enterprises. This scheme will simplify granting of loans to beginners, deeming their IPRs as mortgage-worthy assets. It will also encompass guidelines for valuation of these rights as intangible assets to avail financial assistance from government. This plan focuses on commercialization of intellectual properties and their security. With such strategic methodologies in practice, it aims to encourage better legislative and administrative structuring of this policy in near future.

Promotion of Open Source Software Technology:

This is a welcome step for start-ups in the Indian IT industry. If intellectual properties can be successfully generated for information technology and cyber security, then it can bring about many positive changes for newly formed IT companies working in these domains. They can further get perception management services for brand building and promotion.

Digitization of Filings and Other Documents:

Administration of IPR services can be largely streamlined with digitized procedures and online access to resources like Traditional Knowledge Digital Library (TKDL). It will lower the time period for taking approvals and addressing pending applications.

To enhance the brand image of a new start-up, IPR policy 2016 has multiple benefits. And in this context most of these enterprises could require perception management services of a professional consultancy to help put their operations on the right track.

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If you want to get perception management services or brand management service in India, the author of this article suggests India InfoMedia.