Intellectual Property a key asset for Start-ups

Aug 29, 2017

“Intellectual Property Rights is critical, primarily because of the advancement of technology” said Mr. Sujeet Kumar, OSD-cum- Special Secretary, Odisha State Planning Board. “It is one of the major components of the Start – up India mission” he added. This he said while delivering his address at a panel discussion on “Enhancing awareness on Intellectual Property Rights” organized by World Trade Centre Bhubaneswar in association with Business Standard Smart Business here on 29th August 2019. While addressing the delegates he further deliberated that it is highly essential for the start-ups and MSMEs to be aware on how to protect as well monetize such intangible assets. He also highlighted on the SIPP (start-ups intellectual property protection) scheme of Government of India and the role of intellectual property facilitators. 

Ms. Avasi Mohanty an IPR Legal Associate from Lex Protector International Law Office through her presentation deliberated on the types of trademarks and patents and also explained their registration, filing and renewal models. She advocated that the entrepreneurs should take IP into serious consideration and realize the value which could be gained by either assigning, licencing or selling of their IP. 

Dr. S.K. Sahoo, Director –in-charge, MSME DI in his deliberation emphasized on Copyrights and Geographical Indications. He also discussed about trade secrets and various facilitation and assistance schemes of Government of India in order to promote the usage of IPR tools.
While moderating the session Mr. Dillip Satapathy, Resident Editor of Business Standard took the opportunity to introduce the panellists and also expressed his views on the enhanced need for creation of awareness on IPR in Tier 2 and Tier 3 cities as well as the rural areas of the country. He emphasised that the focus on use of IPR tools would not only serve the entrepreneurs commercially but also increase their competitiveness in the global markets. “Protection of idea is as equally important as its development.” he added.

Earlier in her welcome address Ms. Nimeshika Natarajan while extending a warm welcome to the dignitaries and delegates expressed her gratitude to Business Standard for associating with WTC Bhubaneswar for the fourth joint session. She highlighted that the Indian government approved its first Intellectual Property Rights Policy in May 2016 in compliance with WTO’s agreement on TRIPS and aims to boost Prime Minister Narendra Modi's pet scheme 'Make in India.' “The session aims to provide a platform for enhancing the awareness about the Intellectual Property Rights (IPR) thereby enabling the MSMEs to make it more competitive in the present environment and make effective utilization of IPR tools” she added.
Subsequently a lively and interactive open house discussion between the delegates and the panel added immense value to the session.

In Photo (L-R): Ms. Avasi Mohanty, Mr. Sujeet Kumar, Dr. S.K. Sahoo, Mr. Dillip Satapathy, Ms. Nimeshika Natarajan