Union Cabinet approves MoU between India and Sweden on Intellectual Property Rights

Aug 17, 2017 09:16 IST
Union Cabinet approves MoU between India and Sweden on Intellectual Property Rights

The Union Cabinet, presided by the Prime Minister Narendra Modi, on 16 August 2017 gave green signal to the Memorandum of Understanding (MoU) between India and Sweden on cooperation in the field of Intellectual Property Rights (IPRs).

The MoU aims at establishing a wide ranging and flexible mechanism through which both the nations can exchange best practices and work together on training programs and technical exchanges to raise awareness on IPRs and better protect intellectual property rights.

Key highlights

A Joint Coordination Committee (JCC) with members from both the nations will be formed to decide cooperation activities to be taken under the MoU in following areas:

Exchange of best practices, experiences and knowledge on IP awareness among the public, businesses and educational institutions of both countries;

Collaboration in training programmes, exchange of experts, technical exchanges and outreach activities;

Exchange and dissemination of best practices, experiences and knowledge on IP with the industry, universities, R & D organisations and Small and Medium Enterprises (SMEs) through participation in programs and events in the matter, organized singly or jointly by the Parties;

Exchange of information and best practices for disposal of applications for patents, trademarks, industrial designs, copyrights and Geographical Indications, as also the protection, enforcement and use of IP rights;

Cooperation in the development of automation and implementation of modernization projects, new documentation and information systems in IP and procedures for management of Intellectual Property;

Cooperation to understand how traditional knowledge is protected; and the exchange of best practices, including traditional knowledge related databases and awareness raising of existing Intellectual Property systems;

Exchange of information and best practices regarding Intellectual Property law infringements in the digital environment, especially regarding Copyright issues.

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How the MoU will impact both the nations?

The MoU will enable India to exchange experiences in the innovation and Intellectual Property ecosystems that will substantially benefit entrepreneurs, investors and businesses on both sides.

The exchange of best practices between the two countries will lead to improved protection and awareness about India's range of Intellectual creations which are as diverse as its-people.

It will be a landmark step forward in India's journey towards becoming a major player in global Innovation and will further the objectives of National IPR Policy, 2016.

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Read more Current Affairs on: IPR , Union Cabinet , Narendra Modi , Intellectual Property Rights , Sweden

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