Protection and utilization of public funded property bill approves

New Delhi, Oct 31 : The Union Cabinet today gave its approval to enact the legislation relating to the protection and utilization of Intellectual Property in the Public Funded Research and Development.

The legislation will provide a uniform legal framework for protection and utilization of the Intellectual Property generated out of Government funded research and development.

Besides, sharing of royalty or income between intellectual property creator and recipient will promote innovation culture in the private sector and in universities, academic and research institutions that receive grants from the Government.

ANI