What is the present world scenario of intellectual property rights with respect to life materials? Although, India is second in the world to file patents, still only a few have been commercialized. Explain the reasons behind this less commercialization.

(GI Tags) ↑ (IPR) ← (Types of IPRs in India) → (Copywright for writings, etc.) ↓ ↖ (Design) (Trade marks)

Various laws:-

• Patent Policy, 2014.
• The Protection of Plant Varieties & Farmers Rights.

Limitation in commercialization of IPRs.

1. Compulsory licensing for generic medicines. e.g. Johnson & Johnson Diabetes case.
2. Lack of Awareness of Patents amongst youths. → more rich patent culture in US & China.
3. Global Biopiracy. e.g. US patents on Turmeric.
4. Patent evergreening for profit maximization encourage more government inteference.
5. long process of getting recognition of patent.
6. only 0.7% GDP invested on R&D.

Measures required-

1. IPR awareness through NIPAM to youths for knowledge based economy.

diagram [Innovators] ↓ [Entrepreneur] ←--→ [Firms] ↑ | ↓ └--------------┴← [Household]

Human capital based development.

1. Investments on R&D through NIRF matching global Average.

2. Transparency in mediating farmers v/s Patent companies; local producers v/s foriegn patents.