By: Tarun Bansal
NASSCOM recently reported that Indian startups filed around 200 patents applications recently. What is notable is that much of the filings are related to emerging technologies such as Artificial Intelligence, Cyber Security, Cloud Computing and IoT, establishing India as a hub of innovation. Indian companies, primarily Indian startups, are booming with innovation and creativity. Yet, for them, Intellectual Property (IP) has been a road less travelled. IP in India is perceived as an investment black hole by startups and large corporations alike.
Talking to innovators from small as well as large companies gives an insight into some of the challenges they face when it comes to IP in India. Here are some of them:
> Lack of IP enforcement: Innovators in India feel that the legal system is not equipped to enforce IP – so even if they get their IPs registered, they won’t be able to stop their competitors from breaching/ infringing their IP rights. In fact, by doing IP they think they are giving their trade secrets to competitors on a silver platter.
> A dearth of case studies for IP success: Most innovators don’t relate to success one can get from IP as there have been no significant case studies in India where IP made a significant direct impact on earnings/ business. Establishing a startup became popular in India only when there were enough case studies of people striking it rich or famous.
Read more >> http://founderindia.com/intellectual-property-the-road-less-travelled/
