IPR Exchange in India
India may get its own IP (Intellectual Property) Exchange that the likes of Hong Kong and UK already have, where individuals and companies, in India and overseas, will be able to buy and sell IPR across various sectors like a stock market. India witnessed around 30% increase in the filing of IP applications compared to previous years.
The exchange will be developed by the National Research Development Corporation (NRDC). The idea of setting up an IPR exchange was proposed earlier this year and will give India a greater potential for commercialization.
Intellectual property is the product of imagination, creativity and inventiveness and comprises inventions, designs, brands and artistic works. IPR, intellectual property rights, allow a person or company to have exclusive rights to use their own plans, ideas, or other intangible assets exclusively, at least for a specific period of time. These rights include copyright, patents and trademarks.