Technology management through intellectual property rights

In this article, intellectual property (IP), its various types and the rights of patentee are defined. Challenges for Indian IP professionals at academia and IP firms are also identified. India’s preparedness in IP matters is almost pathetic, which has further been compounded by factors such as excessive filing by non-Indian entities, the myths Indian entities (IEs) are shrouded in and strategy by non-practising entities. Role of Indian academia in preparing the IP ambience has been highlighted. IEs have been advised to adopt correct IP practices. The preparedness of IEs in the IP matters has been analysed and the gap areas have been identified. Need for a fully functional IP Cell at IE has been established. Such an IP Cell will provide the required support to the inventors and help IE handle its IP obligations. Technology Transfer Office can be a possibility after successful operation of IP Cell at IE.