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Role of IPRs in Industrial Innovation 4.0 is very crucial in new Paradigm of Creative Economy

Role of IPRs in Industrial Innovation 4.0 is very crucial in new Paradigm of Creative Economy

Intellectual Property Rights (IPRs) have in recent years emerged as the most important instrument for driving technological innovation and leveraging from it. IPRs have become central to the debate on the governance of science and technology (S&T), in creating the innovation path, rights of inventors, development and technology transfer and commercialization. Technological innovations play a key role in sustaining the growing population by enhancing productivity and self-sufficiency.  There is a proper regulatory structure and institutional mechanism in the country but it still lacks right institutional policies towards IP harmonization, infrastructure support . There is a need to establish a framework that may be responsible to take successful research to market, commercialise the technologies and products developed at R&D institutes and ensure benefit sharing of IP concerned stakeholders. There is still  lack in the current IP mechanism to transfer any IP generated from institutions to companies.  Since six decades, NRDC has been playing major role in  sensitizations among all stakeholders of the knowledge economy and it  will be a milestone in ensuring the highest standards in term of IP management and  high value for  industrial 4.0  innovation.

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