It is the policy released by government to play an enabling role to transform the knowledge into intellectual assets and wealth.
It has following objectives:
• To create public awareness about the economic, social and cultural benefits of IPRs among all sections of society.
• To stimulate the generation of IPRs.
• To have strong and effective IPR laws, which balance the interests of rights owners with larger public interest.
• To modernize and strengthen service-oriented IPR administration.
• Get value for IPRs through commercialization.
• To strengthen the enforcement and adjudicatory mechanisms for combating IPR infringement.
• To strengthen and expand human resources, institutions and capacities for teaching, training, research and skill building in IPRs.
Benefits of the policy are:
• It will foster creativity and innovation and thereby, promote entrepreneurship and enhance socioeconomic and cultural development.
• It will focus on enhancing the affordable health care services to every being of the society.
• It will also promote the food security and will help in eradicating the poverty and hunger.
• It will also promote environment protection and technology advancements.