What is Intellectual Property?

• Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.
• IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. 
• By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish.

• The National IPR Policy is a vision document that encompasses and brings to a single platform all IPRs. 
• The Policy recognizes that India has a well-established TRIPS-compliant legislative, administrative and judicial framework to safeguard IPRs, which meets its international obligations while utilizing the flexibilities provided in the international regime to address its developmental concerns. 
• It reiterates India’s commitment to the Doha Development Agenda and the TRIPS agreement

Objectives:

The Policy lays down the following seven objectives:

• IPR Awareness: Outreach and Promotion – To create public awareness about the economic, social and cultural benefits of IPRs among all sections of society.
• Generation of IPRs – To stimulate the generation of IPRs.
• Legal and Legislative Framework – To have strong and effective IPR laws, which balance the interests of rights owners with larger public interest.
• Administration and Management – To modernize and strengthen service-oriented IPR administration.
• Commercialization of IPRs – Get value for IPRs through commercialization.
• Enforcement and Adjudication – To strengthen the enforcement and adjudicatory mechanisms for combating IPR infringements.
• Human Capital Development – To strengthen and expand human resources, institutions and capacities for teaching, training, research and skill building in IPRs.

These objectives are sought to be achieved through detailed action points. The action by different Ministries/ Departments shall be monitored by DPIIT which shall be the nodal department to coordinate, guide and oversee implementation and future development of IPRs in India