Economy

India, US sign MoU on increasing IP cooperation

Our Bureau New Delhi | Updated on December 03, 2020 Published on December 03, 2020

A landmark step forward in India’s journey towards becoming a major player in global innovation and will further the objectives of National IPR Policy, 2016

India and the US have signed a Memorandum of Understanding (MoU) on Wednesday (December 2) to increase intellectual property cooperation.

The MoU was between the Department for Promotion of Industry and Internal Trade (DPIIT) and the United States Patent and Trademark Office (USPTO).

As per an official release, DPIIT Secretary Guruprasad Mohapatra and Andrei Iancu, Under Secretary of Commerce for Intellectual Property and Director, USPTO conducted a virtual signing ceremony for the MoU.

“The MoU will go a long way in fostering the cooperation between India and the US and provide opportunities to both countries to learn from the experience of each other, especially in terms of best practices followed in the other country. It will be a landmark step forward in India’s journey towards becoming a major player in global innovation and will further the objectives of National IPR Policy, 2016,” the statement pointed out.

The MoU seeks to facilitate the exchange and dissemination of best practices, experiences, and knowledge on IP among the public, and between and among the industry, universities, research and development organisations, and small and medium-sized enterprises through participation in programs and events, the release added.

The Union Cabinet had given its approval for signing the MoU with USPTO in February this year. The two sides will also collaborate in training programs, exchange of experts, technical exchanges, and outreach activities.

Cooperation to understand various issues related to traditional knowledge, and the exchange of best practices, including those related to traditional knowledge databases and awareness-raising on the use of existing IP systems for the protection of traditional knowledge, is also part of the cooperation, the release said.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on December 03, 2020
This article is closed for comments.
Please Email the Editor