The Growing Significance of Intellectual Property Ownership for Developing Countries

Uncategorized | Garima Rai

Management of Intellectual Property Rights (IPRs) has assumed an increasingly important role in deciding the technological prospects of a developing country like ours.  The World Trade Organization (WTO) agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) has laid down certain minimum standards for protection and enforcement of intellectual property rights, requiring member countries to practice effective and adequate protection of intellectual property rights with a view to promoting fair international trade. However, it is the discretion of the member country to decide how to implement the provisions of the agreement within its own legal framework and practice.

IPR exploitation and IPR protection are crucial factors that have a direct impact on how well a country performs in a new economic environment. Moreover, technological self-reliance is of utmost importance to a developing country like India- seeking to harness technology for economic growth and development. Ownership of intellectual property also helps check free-riding on intellectual assets and provides innovators with an incentive to engage in inventive activities.  India has realized this fact, and has therefore taken all the necessary measures to ensure a strong IPR regime. The country has made significant investments on the legislative as well as legal and institutional aspects towards meeting this end.

Newgen understands the importance of IPR protection, and this is evident from the fact that the Indian Patents Office, in its annual report for 2009-2010, has listed the company as one the top 5 Indian applicants for patents in the field of Information Technology. Further, the company has filed patents wherever applicable and secured IPR for other innovations, through Copyrights and Trademarks for its products.

Bio: Garima is part of the Marketing team at Newgen Software.