Discussing the 'Preparedness of industry for the new IPR regime' at the 18th national conference on in-house R&D in industry in New Delhi, they said the product patent system had an advantage over the existing process patent system as it would give "rights to people over the creation of their minds".
"The new patent policy will support R&D in a big way as more money will be allocated for the purpose, benefitting the country's economy in the new era of globalisation," G A Krishna from Central Food Technological Research Institute, Bangalore, said at the conference jointly organised by Department of Science and Industrial Research and Federation of Indian Chambers of Commerce and Industry.
It would stimulate and encourage creativity to gain economic benefits, he said. Pointing out that the new regime would benefit researchers and companies in a big way, director, Indian Oil Corporation, N R Raje said, the new proposals would "actually stop companies from unlawfully benefitting from others' hard toil."
"Patents encourage technical development and it is essential for the generation of new ideas and technologies," he said. In the process patent system, the burden of proving infringement of rights lay on the patent owner but that is not the case in the new regime, Raje added.
The new regime will introduce a new culture of quality research with complete protection of IPR and competitiveness," Goutam Das of Syngene International said.
"Product patent brings returns on investment and allows new investment into R&D," M N Jagadish, director of Monsanto Research Centre said.
Cautioning against the practice among some researchers to publish their research prematurely, Das said, "this would hamper commercialisation of the invention."
"Even innocent disclosure could lead to loss of intellectual rights. Paper should be published only after proper documentation," he said.
Saibal Dutt of ST Microelectronics said that maintaining patent portfolio was important for preventing duplication of invention. Krishna said industry should identify portfolio management as a "business activity."
Proper patent portfolio management would enhance one's credibility and would help in forging strategic business alliances, he added.
