New Delhi (PTI): A Bill to develop a framework for protection and utilisation of intellectual property created out of public funded research and development was introduced in the Rajya Sabhaon Monday.

The Protection and Utilisation of Public Funded Intellectual Property Bill 2008, introduced by Science and Technology Minister Kapil Sibal, seeks to provide for a funding agreement between the government and the recipient before release of grant for research and development.

Besides seeking to bar public disclosure, publication and exhibition of the public funded intellectual property, the Bill lists duties of the recipient who retains the titles.

Observing that in order to compete in a global environment, it was necessary for India to innovate and promote creativity, the statement of objects and reasons said that the country also needed to protect and utilise the intellectual property created out of public funded research and development.

"The ultimate objective, however, is to ensure access to such innovation by all stakeholders for public good," it said.

The proposed legislation would enhance awareness about intellectual property issues, especially in universities, academic and research institutions, the Bill said.

Such innovations could be utilised for raising financial resources of these establishments, through royalties or income, it added.