Indian industry must create patent portfolios: experts
Nov 25, 2006 - 1:41:03 AM
, Reviewed by: Priya Saxena
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S.K. Verma, team leader, IPR component, EU representative in India, said traditionally the small and medium enterprises, and even large Indian corporations were technology-followers.
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By RxPG News Service,
[RxPG] Chennai, Nov 24 - Experts at an European Union --India Intellectual Property management seminar Friday here said Indian industry must create patent portfolios to manage wealth.
'To create wealth and compete in the global market, the Indian industry must create patent portfolio and should not rely on individual patents,' said V. Lakshmi Kumaran, managing partner of Lakshmikumaran and Sridharan.
'The creating of Intellectual Property - requires management's strategic focus to nurture an invention-oriented environment. There must be systems to identify, incubate and reward ideas within the organisation,' he said at the seminar organised by the Confederation of Indian Industry -.
Multinational companies are increasingly looking for outsourcing their research activities to countries like India to create intellectual properties cost effectively, he pointed out.
S.K. Verma, team leader, IPR component, EU representative in India, said traditionally the small and medium enterprises, and even large Indian corporations were technology-followers.
'They must transform themselves into technology creators leveraging the strong IPR infrastructure of the country,' she said.
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