PHD Chamber organizes virtual session on Role of Intellectual Property (IP) in Innovation Management Challenges and Prospects

New Delhi: Punjab State Chapter of PHD Chamber in association with GIZ, Ministry of MSME and Sangrur District Industrial Chamber (SDIC) organized an Interactive Video Conference on Role of Intellectual Property (IP) in Innovation Management: Challenges & Prospects on 21 January 2021 to educate industry members and MSMEs about benefits of IP and how protecting IPRs can enhance their competitiveness and build brand identity.

Mr. RS Sachdeva, Chairman, IPFC Steering Committee & Mentor, Punjab State Chapter, PHDCCI welcomed the speakers and participants. He informed that IP Facilitation Centre has been set up at Amritsar and will be formally inaugurated in Februrary 2021 and would provide all IP related services like Trademarks, Patents, Copyrights, Designs and Geographical Indication, etc. He added that PHDCCI is organizing series of events to publicize and apprise stakeholders of the services of IPFC for Industry members and Startups.
 
Dr. Shweta Sen, Head IPR, Integrum IP, Mohali made detailed presentation on Overview of Intellectual Property Laws.
She explained Trademarks could be sign, word, letter, number, drawing, picture, emblem, colours, shape of goods, graphical representation or packaging whereas coyright covers literary works, including books, webpages, computer programs and instruction manuals; dramatic and musical works, music to songs; artistic works, technical drawings, photographs, diagrams and maps; films, videos and broadcasts, including those on cable and satellite; sound recordings and  databases, whether paper or electronic.
 
She mentioned patenting inventions leads to exclusive rights to stop and prevent others from commercially exploiting an invention for twenty years from date of filing of patent application. There is return on investment, there is opportunity to license or sell the invention.
 
Giving overview on industrial design(ID) she explained, ID constitute the ornamental aspect of the article; may constitute shape of an article, patterns, lines or colors. While Geographical indication pertains to any product that has specific geographical origin and possess qualities or characteristics essentially due to place of origin.
 
Ms. Deepika  Divekar Panicker, Co-Founder, Lawgicon, Pune made elaborative presentation covering Role of IP in Innovation management – Challenges & Prospects. Highlighting the importance of IPR, she mentioned IP increases Business valuation and helps save time and money on R& D. She apprised participants on strategies for protection and exploitation of IP Rights. She detailed on modes of commercialization including agreements with IP Clauses. Speaking on the challenges in IP in terms of IP Infringement, IP Non-exploitation, IP undervaluation and Improper record keeping, she mentioned IP Challenges range from getting the right protection for IP to ensuring you have water tight contracts to protect your IP from competitor, suppliers, customers and fellow business partners. MSMEs enrolled in MSME INNO programme participated and benefited from the programme.