Answer:

Intellectual Property (IP) refers to creations of the mind: inventions, literary and artistic works, symbols, names, and images used in commerce, etc. In India, laws like the Trademark Act, Copyright Act, Patent Act, etc., provide legal protection and remedies to the owners of IPs like trademarks, copyrights, etc.

Role of IPR in Promoting Research and Innovation:

• Balance Competing Interests: IPR helps strike a balance between the interests of innovators and the public by providing an environment in which creativity and invention can flourish for the benefit of all.
• Incentivizing Investment: IPR incentivizes creators to invest their time, energy, and resources in research and development through the grant of protection for a specific period.

○  For example, Indian laws provide a patent for 20 years.

• Fostering Collaboration and Technology Transfer: IPR facilitates collaboration and technology transfer between different entities, such as universities, research institutions, and industries.

○  For example, Oxford has provided its AstraZeneca vaccine to Serum Institute to manufacture it under the name of Covishield.

Issues in IPR Regime in India:

• Lengthy and Complex Patent Examination Process: The process of patent examination in India is often lengthy and complex, resulting in significant delays in obtaining patent grants.

○  For example, in India, it takes about 58 months on average to dispose of a patent application, compared to about 20 months in China.

• Major Share of Non-Residents: Patents in India are largely filed by foreigners and non-residents.

○  For example, around 64% of patents filed in India are by foreigners.

• Limited Awareness and Enforcement: Insufficient knowledge about IPR laws and procedures can result in underutilization of the IPR system. Enforcement of IPR laws is a challenge, with issues such as inadequate legal remedies, slow legal processes, and limited resources for enforcement agencies.
• Lack of Appellate Board: The Intellectual Property Appellate Board has been abolished by the Tribunals Reforms (Rationalization and Conditions of Service) Ordinance 2021.
• Low Funding: The R&D expenditure has been stagnant over the years at around 0.7% of the GDP.

By addressing these issues and implementing appropriate reforms, India can create a more robust and supportive IPR regime that incentivizes research and innovation, protects the rights of creators and innovators, and contributes to economic growth and technological advancement.