Need for a Legal Framework to Enable Public-Funded Organizations in India to Build a New Paradigm for Innovation and Utilization of Intellectual Property (IP)

The Protection and Utilization of Public Funded Intellectual Property Bill, 2008 [hereinafter referred to as “the Bill”] was toprovide a standard framework through which the universities and academic and research institutions are supported to build larger pools of knowledge which can seamlessly and efficiently be transferred to the industries. The Committee set up to make a recommendation highlighted specific contentious points and the absence of the recommendations put forth by the Committee in the Bill led to its withdrawal from the Rajya Sabha on December 8, 2014. The empirical study indicated that 64% of the participants in the study, emphatically, favor adopting an Act like the Bayh-Dole Act (of 1970 enacted by the United States of America) with modifications made to suit Indian requirements. Government of India (GOI), then, should consider modifying its draft Bill-2008 to bring it in line with the aspirations of India in 2022 and take guidance from Bayh-Dole Act and table the modified PUFUP Bill-2020 in the Indian parliament. Enactment of such a law will positively contribute to furthering science and technology, promoting leading research, make Indian organizations more efficient, and have a meaningful impact on the economy and quality of life of people in India. This research paper presents a section by section proposed amendments to the Bill of 2008.