Earlier this week, I was one of the panelists in a multi-stakeholder discussion on the role of a robust intellectual property (IP) regime in boosting confidence of foreign investors in India. This event was held in New Delhi by the Global Intellectual Property Center. The discussion was timely! – with all the energy and enthusiasm around us about Make in India, it is only appropriate that we ruminate on the impact of strong intellectual property laws on the ease of doing business in India.
A speaker in one of the earlier sessions listed top three elements, which were fundamental to creating a healthy intellectual property environment in any country – legal framework, enforcement, and awareness. I couldn’t agree more. I piggybacked on that line of thought to kick off my turn in the panel discussion by illustrating the UK Intellectual Property Office’s (UKIPO) work in each of these strands. On the legal side, certain regulations are already benefiting UK business. For instance, eligible companies in the UK could make use of the patent box scheme through which the corporation tax applied to profits earned from patented inventions is 10% as opposed to the regular rate of 20%. For patenting green technologies, companies can avail accelerated processing of applications through the Green Channel.
The recurring theme of conversations happening in the room centred on the effective enforcement of intellectual property rights. On this front, I highlighted the UK’s Police Intellectual Property Crime Unit (PIPCU) – a specialist unit founded by the UKIPO in 2013. PIPCU tracks online infringement of goods and maintains an infringing website list not just to flag rogue sites but also to suspend them. Litigation has now become more accessible and unencumbered for lone inventors and small businesses in the UK, thanks to the Intellectual Property Enterprise Court (IPEC). Through IPEC, IP litigation of small claims has become cheaper, faster, and more efficient. The popularity of this court has only soared over recent years!
Finally, on awareness, I mentioned crackingideas.com – a UK IPO initiative aimed at empowering the civil society through the creation of suitable learning resources on IP. One of these is Think Kit, which was developed to spread IP education in schools.
As we concluded our panel discussion, we unanimously agreed on the importance of respecting IP against the backdrop of Make in India. This will positively influence the ease of doing business in India and instill confidence in foreign investors and domestic industry alike.