Ministry of Micro Small and Medium Enterprise (MSME)- Confederation of Indian Industries (CII), International Professional Financial Careers Academy Pvt Ltd Mysuru, in association with JSS Mahavidyapeetha, Sri Jayachamarajendra College of Engineering-Science and Technology Entrepreneurs Park (SJCE-STEP) and JSS Center for Management Studies (JSSCMS) organised the `World IP Day celebrations – IP as a fuel for start-up’s and MSMEs’ recently at CMS conference Hall.
The session was organised on the occasion of the centenary celebrations of Dr Sri Shivarathri Rajendra Swamiji.
Dr P Nagesh, HoD, JSS-CMS, SJCE, reiterated the importance of intellectual property. Speaking on the concept of celebrating the `World IP Day,’ Rakesh Babu K L said that IP day is celebrated on April 26 as it coincides with the date on which the convention establishing the World Intellectual Proper-ty Organisation (WIPO) came into force in 1970.
Director and Principal Attorney, Patracode Services Pvt Ltd, Gaurav Singhal explained about the different types of IPs. He also briefed on the basics of patent drafting.
Lead IP analyst, Momentive Performance Materials (India) Pvt Ltd, Ashutosh Pathak elaborated on `Creating value from IP’ and said ‘IP is in the centre stage in today’s world and that now the company’s asset is valued as per the intangible assets i.e., the IP owned by the company as opposed to the tangible assets owned by the company.’ He pointed out that the companies are choosing to cross license their know-how and technology in order to develop their services and products.
Managing Director, Ideas Manufacturing, Nagendra Setty, who spoke on the ‘Reality check on IP filings’ said that the motivation behind the filing and registration of IP is a key factor for a big corporate, and for the small or the start-up companies it is the viability and the timing of the technology that is more important. He emphasised that for an IP to be translated tc monetary gains, the key factor is the ‘need of the hour.’
With regard to the use of open source software and its ownership, the panelists answered that the software is open for use by everyone and that the owner will levy charges only on the services provided rather than design.