CHENNAI: The Central government approved its first Intellectual Property Rights Policy (IPR) earlier this year and the legal fraternity in Chennai has welcomed it with open arms.
Speaking at a conference hosted by the Associated Chamber of Commerce of India (ASSOCHAM) and the Andhra Chamber of Commerce, retired judge K N Basha pointed out that there are various products that could have a massive impact on the society but are unavailable because they are entangled in the complicated procedures.
Basha, who is also the former chairman of the Intellectual Property Appellate Board, applauded the new policy. “The policy would be a tool of growth and wealth creation and it would also strike a right balance between nurturing industry and public interests.” K N Basha also said that the new policy facilitated the creation of a global village sans borders.