MSMEs to buy or sell IP rights online via IPR exchange | SupportBiz

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MSMEs to buy or sell IP rights online via IPR exchange

 
The Federation of Indian Micro, Small and Medium Enterprises (FISME), with support from the British High Commission, has set up India’s first IPR Exchange in the country capital on Thursday, which will enable Indian MSMEs (Micro, Small and Medium Enterprises) to buy or sell their Intellectual Property (IP) rights online.

Users can log on to iprexchange.in to access the website of the exchange.

MSME Secretary Madhav Lal said at the launch of the exchange, "The number of patents generated in other countries, including China, are much more than India. This is an important initiative to bring awareness among the business enterprises and offer them with a platform to buy and sell intellectual property."  

The exchange comes with e-vaults, duly protected through secure passwords for safe storage of the unique creations of the entrepreneurs. It will also help them assess valuation of their IPRs through a specialised service.

FISME President D Gandhikumar averred, "Businesses aiming at profit maximization need protected Intellectual Property to be bought, sold, assigned or transferred like any other physical property. The proposed IPR exchange is a market-based mechanism which aims to ascertain business values.

Lal said when asked about the MSME Ministry’s suggestions for Foreign Trade Policy (FTP), "We have brought issues related to export credit, easing of procedures, etc. to the notice of Commerce Ministry."

The government is likely to announce the annual FTP supplement on April 18.