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The amount of pendency in IPR applications has always been a huge concern in India. Since the areas of copyright, trademark and patent have commercial value, immediate grant of IPR rights will be of high importance as it adds to the economy and also acts as a mark of quality and authenticity.
To promote innovation the Government is mulling to reduce fees for reduction in price for applying to for an IPR. The proposed reduction in prices are as follows-
The Government also emphasized upon the need to spread the awareness of intellectual property rights in schools and academic institutions.
The Government seems to be taking positive steps for spreading and strengthening the existing IPR Regime in India. Thus includes the recent introduction of the draft IPR Policy in academic institutions by CIPAM. The role of IPR in academic institutions is of substantive importance, with it governing evry aspect of the institution like books, literature, scholary articles, journal publications to name a few. Astrong IPR ploicy is needed to combat the menace of plagiarism. Incentives are also needed to provide teachers and students a platform to engage in cutting edge research. The draft guidlines also derive much of it smandate from the WIPO Guidlines on the same.
No doubt the great reduction of fees by the government will impact its revenue generated in the short term, but the long term benefits outweigh the short term risks. The long term benefits include the more dissemmination of IPR rights, the more number of applications will be filed. Further, timelt grant of applications will result in an individual having a monopoly over his creation thus acting as an incentive and also giving him property rights. The use of patents also ensure tje production of cutting edge research in medicine to combat disease and help in human progress as a whole. Thus surely the benefits outweigh the risks.
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