Bangalore IT.in 2006, the annual IT exposition hosted by the Karnataka government to showcase its progress in growth of this industry, has provided a platform to kickstart India Intellectual Property (IP) Forum.
This initiative is expected to be a catalyst to enable Indian companies to become global players in the IP product space.
Kicking off this idea, Rajeev Mehtani, VP, NXP Semiconductors India, which was recently spun out of Philips Semiconductors, said: "India has a strong history of IP development, wherein services companies developed IP-based products on contract for overseas clients.
"The scenario is rapidly changing today with services companies being sensitised to the enormous potential contained in the IP they create. This has resulted in the emergence of 'IP entrepreneurs' in India. Motivated by this, the IP-based companies have come together to form 'India IP Forum' to cash in on the innovation within India."
"The scenario is rapidly changing today with services companies being sensitised to the enormous potential contained in the IP they create. This has resulted in the emergence of 'IP entrepreneurs' in India. Motivated by this, the IP-based companies have come together to form 'India IP Forum' to cash in on the innovation within India."
The India IP Forum will facilitate companies to file patents, exchange them,
and understand the complex procedures of going in for this process. Close to 5,000 patents are estimated to have been filed from India by both Indian companies and MNCs.
While the proportion of patents filed by captive MNCs are probably higher than their Indian counterparts, the trend will definitely change in the days to come.
Added B V Naidu, director, STPI-Karnataka: "We are working as a proactive catalyst to enable Indian companies to become global players in the IP product space. It is our vision that the licensing revenues that Indian companies will earn will become a significant portion of their revenue stream."
Naidu further added that creation of the 'IP Zone' at the Bangalore IT.in 2006 was perhaps the first step in this journey towards positioning India as a destination of choice for IP and development of global product companies from India.
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