The Hindu : Leveraging patents for success of IT companies

Online edition of India's National Newspaper
Tuesday, Mar 23, 2004

Business

Business

Leveraging patents for success of IT companies

By Our Special Correspondent

NEW DELHI, MARCH 22. With the growing recognition of India's strength in information technology the world over, the role of patenting and IP protection has gained immense importance. It is now being felt that towards moving up the value chain, leveraging patents as a powerful tool for the growth, development and commercial success of IT companies has become critical.

Stating this, Kiran Karnik, President, National Association of Software and Service Companies (Assocham), said today the Indian IT companies should consider IPAMs (IP Asset Management) as an important part of their business strategy. He stressed that intellectual property was critical as catalyst in nation's growth as it not only enhanced FDI but also promotes investment into R&D by the domestic sector. In this regard, he drew attention towards the pharma sector, which witnessed a significant rise in R&D spending after India agreed to recognise product patent. He further underlined the importance of creating nationwide awareness and good understanding of the significant difference between patent, copyright and trade secret.

Mr. Karnik was addressing the `WIPO Seminar on Patents, the Patent Cooperation Treaty (PCT) and the Commercialisation of Inventions for the Information Technology Industry' jointly organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) the Department of Industrial Policy and Promotion (DIPP) and the World Intellectual Property Organisation (WIPO) here.

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