Protection of IP rights vital for corporate growth, point out experts

CHENNAI: Inspite of growing awareness about the importance of intellectual property protection among corporates, practical information about what IP strategies and filings are best for corporate growth, remains low, noted speakers at a conference held here recently.

The conference organised by Surana & Surana International Attorneys in association with Intellectual Property Bar of India Trust, supported by Hindustan Chamber of Commerce and The Tamil Chamber of Commerce, aimed at educating corporates on the various government schemes for MSMEs, Indian Patent and Trademark Office practices, and various approaches to effective IP filing and enforcement.

In his inaugural address Vinod Surana, Managing Partner-CEO, Surana & Surana International Attorneys, said “Historically, innovation is the foundation of all human progress. Research shows that innovation and prosperity have always gone hand in hand. Competent professional expertise is required to consolidate and maximise gains from IPR. IPR is a powerful geo political tool.”

K Suresh, President, Hindustan Chamber of Commerce, said “The IPR rights are territorial rights that can be registered with a legal entity in some presentable or tangible form which can be sold or licensed. It gives a secured investment for the investors, scientists, artists, traders, etc., to foster innovation.”

Chozha Nachiyar Rajasekhar, President, Tamil Chamber of Commerce said “Since IP is a valuable asset for business, its protection is important for corporate growth. IP is the backbone of any modern organisation. It provides both shield and sword for protection.”

CN Shashidhara, Joint Controller, Indian Patent Office said “We focus on start-ups and small industries. Most corporates evolve from start-ups or as a small industry. In Japan, today’s big names like Hitachi and Mitsubishi began as start-ups. Inventions have to be first filed for protection of their inventor’s intellectual property.”