In November 2014, the government set up an IPR think-tank to draft the IPR policy, pursuant to which on May 12, 2016, the government approved the much-awaited National Intellectual Property Rights (IPR) Policy(hereinafter referred to as “the Policy”). The Policy aims at promoting the IP regime and to encourage creativity, innovation and entrepreneurship in India. Its rationale lies in the need to create awareness about the importance of IPRs as a marketable financial asset and economic tool.![]()
