THE CANDOR AND PROBITY OF INDIAN IPR POLICY - 2016

Guru Prasad Puttu

Asst. Professor, Senior Faculty for Management Sciences, Department of S & H,

Vasireddy Venkatadri Institute of Technology,  Guntur- 522006, Andhra Pradesh.

pgpjntuk@gmail.com

Prof. M S Nrayana

Professor & HoD Department of Business Management, Narasaraopet  Engineering Collage,

Narasaraopet, Guntur- Andhra Pradesh.

dr.srinivasanarayana@gmail.com

ABSTRACT:

The administration and management of intellectual property (IP) needs to focus on the quality of patents to narrow the scope reduce breadth, maximize disclosures and access to upstream technology. IPRs are regulatory tools through which the policymakers can calibrate the balance between exclusive rights and public interest. Policy instruments, in that case, should help in designing the quality of IP such that it balances the interests of producers and users of IP, between first movers and second generation investors, property rights and free competition, invention and integration, and lawyers, users and innovators. The real action in intellectual property, however, takes place out of the public gaze. Decision making in patent offices and courts will go by the principles enshrined in this new policy. Many a time courts and patent offices are maneuvered to establish monopolies and compromise public interest by way of curbing competition. This paper discusses the merits and demerits of Indian IPR policy released on 12 May 2016.

Keywords:  Intellectual Property, Regulatory tool, Patent Policy, Free competition & Exclusive rights.