Startups of PCTE Group of Institutes, Ludhiana sensitized on IPR at PHDCCI Video Conference

No. PR- 046 June 2, 2021 New Delhi Startups of PCTE Group of Institutes, Ludhiana sensitized on IPR at PHDCCI Video Conference PHD Chamber of Commerce and Industry (PHDCCI) organized an Interactive Video Conference on Role of Intellectual Property (IP) in Innovation Management - Challenges & Prospects here today for Start-ups and Faculty of PCTE Group of Institutes, Ludhiana. Welcoming the speakers and participants, Mr. J K Sharma, Co-Chairman, Punjab Education Committee and Chief Operating Officer (COO), Technology Business Incubation Foundation (TBIF), Indian Institute of Technology (IIT) Ropar said that IPR has always been important for innovators but its awareness has increased during the current pandemic, as a large number of innovations have come up and everyone is interested in protecting his or her innovation. He mentioned that PHDCCI has been aggressively organizing awareness programs on IPR to sensitize industry and students the process for protecting and managing IPRs. He informed that the Chamber has established an IPFC at Amritsar and Chandigarh for providing IP related services. Addressing the Session, Prof. Naresh Sachdev, Dean – Corporate Relations, PCTE Group of Institutes, Ludhiana informed that their institute fosters and sensitizes the importance of entrepreneurship and makes every effort to nurture the young entrepreneurs in the campus. College has set up a fully functional incubation center recognized by Startup Cell,Punjab and Institute of Innovation by MHRD Govt. of India where students are given training to run their business. He shared that PCTE and IIT, Ropar TBIF have signed an MoU for promotion of entrepreneurship in Punjab. Giving an overview of IPR, Ms. Geeta Gulati, Advocate, Trade Marks & Patent Attorney, Panchkula stated that IPR are important to safeguard the innovations and for the economic development of the country. She said that Patent gives an inventor an exclusive right to make, use and sell his creation. Explaining the procedure for getting a Patent, she said that after checking the availability, an application for Patent can be filed with the Registry. She mentioned that a Patent is for 20 years after which it goes in public domain and anybody can copy it. She said civil remedy is available for checking infringement of Patent. Ms. Gulati explained that if any product relates to public welfare, then the Government can force the Inventor to licence the Patent to enable others to manufacture the product. This is termed as Compulsory Licensing. Ms. Gulati informed that Trademark refers to the name, color and logo of a company. Trademarks help the consumer to recognize the product. With the help of a case study of Goodyear – a reputed company manufacturing tyres, she explained how fraudsters can use the Trademark of reputed companies to take advantage of their goodwill and trust. She explained that application for Trademark can be filed online after checking he availability. Trademarks are territorial. The words ‘TM’ on brand name imply the company has filed for Trademark whereas the word ‘R’ in a circle implies that the company’s Trademark has been registered. Ms. Gulati mentioned that Copyright refers to any form of expression and includes written and verbal expressions and are applicable universally. The validity of copyright is for lifetime of the creator and 50 years after his death. She explained that Industrial design is the outer shape of a product and can also be protected through IPR. Dr. Shweta Sen, Head IPR, Integrum IP, Mohali made a detailed Presentation on Role of IP in Innovation management – Challenges & Prospects. She mentioned that IPs are of 4 types namely Patents, Copyrights, Trademarks and Design. She stated that an invention becomes innovation only after its commercialization. Giving example of Edison, she explained that the electric bulb invented by Edison became innovation only after his company development infrastructure for electricity and made electric bulb a marketable product. She explained that Innovation Management is important because it helps the brands to stand out in their vertical. She added that depending on the business objectives, three types of IP Management strategy can be adopted – Defensive strategy by preventing others from patenting the same idea, Offensive strategy by blocking competitors from getting entry into one’s proprietary technologies and by commercialization of IP assets to gain financial benefit through sale or licensing of the IP. Dr. Sen said that to maintain clarity on IP rights, proper agreements should be signed to avoid any confusion or loss at a later stage. All business partners should articulate the ownership rights of IP. Similarly, the employees should be made to sign confidentiality and Assignment agreement for protection of the company IP. Presenting the formal Vote of Thanks, Prof. Satyajit Thind, Professor – International Business, PCTE Group of Institutes, Ludhiana said very useful insights on protection of IPR, were shared during the session and hoped the same will greatly benefit the students and young entrepreneurs. He said such interactions should be organized frequently as it is important to sensitize the students on this important topic to enable them to take timely action to protect their innovative ideas. More than 100 participants including Startups, Faculty members and Students of PCTE Group of Institutes, Ludhiana attended and benefited from the programme. PHD Chamber of Commerce and Industry’s webinar was supported by DLF India; Multani Pharmaceuticals Ltd; JK Tyre & industries ltd; Marble City; Paramount Cables ltd; SMC Investments and Advisors Limited; Blossom Kochhar Aroma Magic; DCM Shriram Industries Ltd; Radico Khaitan ltd Timberworkz and Synergy Environics Ltd. End Media Division PHD Chamber of Commerce and Industry