India\'s micro, small and medium enterprises (MSMEs) will now be able to buy and sell their intellectual property rights online, thanks to an IPR Exchange launched today.
India's micro, small and medium enterprises (MSMEs) will now be able to buy and sell their intellectual property rights online, thanks to an IPR Exchange launched today.
The IPR Exchange, which has been set up by the Federation of Indian Micro, Small and Medium Enterprises (FISME) with support from the British High Commission, is the first such initiative in India. Users can log on to iprexchange.in to access the website of the exchange.
Speaking at the launch, Madhav Lal, MSME Secretary, said, "If you see the number of patents which are being generated in other countries now, including China, and if you compare that with India then we are way behind."
"So the whole idea initially is to bring about awareness. This is an important initiative where people can buy and sell intellectual property," he added.
It offers a platform to MSMEs to buy or sell IPRs, along with e-vaults duly protected through secure passwords for safe storage of their unique creations. By doing so, it will help entrepreneurs assess valuation of their IPRs through a specialised service.
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