New Delhi: The cabinet on Friday approved a new policy on the National Intellectual Property Rights (IPR). The new policy is designed to safeguard trademark identities, Finance Minister Arun Jaitley said here.
He said the Department of Industrial Policy and Promotion has prepared the draft policy in this regard.
The new policy is totally complaint with the World Trade Organisations agreement on trade related aspects of IPR, according to the government sources.
New policy will focus on creating awareness on copy rights, at the school and college level.
The centre has taken such a decision, because a policy is required to protect the rights of new inventions, growth in trade, commerce and industry etc. A big change that has come about is that the copyright law used to originally have relevance only with books and publications. Under the new policy, films, music, industrial drawings will be all covered by copyright.
“One of the underlying factors is that each man must sell his product under his / her own name and identity,” said Jaitley.
Trademark offices have been modernized with the aim to reduce the time taken for registration to just 1 month by 2017.