Intellectual Property Rights in Context of New Education Policy 2020

Intellectual property rights (IPRs) are the backbone of innovation and new ideas. They encourage prospective researchers and protect their interests. These rights give innovators an exclusive right over their creations for a certain period. India being a member of the World trade organization has complied with its obligations related to intellectual property rights. In India, IPRs are divided into the following categories as Copyright, patents, designs, and trademarks. The New Education Policy (NEP) 2020 puts major emphasis on ability enhancement and skill development with a technology-driven approach to teaching-learning processes accompanied by creativity and innovation. The purpose of IPR is to provide protection for the results of investments of individuals and stimulate innovation thereby rewarding and encouraging creative work in the development of NEP 2020. In today’s era, it is very important to create IPR awareness within academic institutions among faculty members and students so that they can patent their innovative research work and consequently benefit the stakeholders. IPRs have also gained substantial importance with the advent of information technology. IPR is of prime importance in sustaining the Global business environment and hence subsistence all over the globe. These rights uplift the inquisitive mindset by duly acknowledging and providing benefits to the originator. The absence and inadequate executionof these rights may impede the social, technical, and economic growth of anation. Hence appropriate propagation of IPR knowledge and its implementation is of paramount significance in the context of NEP 2020.