New Delhi: India will soon have an Intellectual Property (IP) Exchange, joining the league of countries like Hong Kong and United Kingdom, where individuals and commercial entities both in India and overseas will be able to buy and sell intellectual property rights across various sectors. More From Livemint »Intellectual property is the product of human imagination, creativity and inventiveness and comprises inventions, designs, brands and artistic works. Similarly, intellectual property rights allow a person or company to have exclusive rights to use their own plans, ideas, or other intangible assets exclusively at least for a specific period of time. “We have been mandated with the task of creation of the proposed IP exchange and the process will take around 8-9 months for collecting data and setting up the exchange. According to its annual report of 2015-16, India witnessed about 30% increase in filing of intellectual property applications compared to previous years.

Source: Mint July 02, 2017 20:09 UTC