Innovating a brighter future for all
IPR (Intellectual Property Rights) and innovation have entered into the common parlance in the age of startups. In spite of this, first-generation entrepreneurs face significant challenges in dealing with legal complexities that come with starting a business. To provide our students with a set of expert-approved guidelines, the Institution’s Innovation Council, Brainware University, organised a webinar on ‘Intellectual Property component at the early stage of innovation’ on December 19, 2020 at 2 PM. Renowned IPR lawyer Mr Anjan Sen (Principal & Managing Patent Attorney, Advocate, Anjan Sen & Associates) was there to guide our future entrepreneurs on how to protect their innovation from unfair use.
The discussions began with an elucidation of the legal premises of Intellectual Property Rights in India. “You cannot trademark or patent something that exists in your mind. It has to have a tangible form and of course any claims of novelty must be absolute. It has to be something entirely new, otherwise it isn’t going to stick,” advised Mr Sen.
In Mr Sen’s estimation, the biggest mistake that young entrepreneurs make is to focus too much on innovation and marketing and less on getting their IPR in order. Commenting on this laissez-faire attitude of young entrepreneurs, he warned, “You can have the most amazing innovations but if your competitors manage to get hold of it, then it amounts to nothing. So start researching about IPR before you start your venture.”
He explained the ways IPR is valuable in different sectors and at all stages of innovation. “Designers and even musicians take IPR very seriously. If there is no legal sanction, then chances are in this economy which thrives on novelty your innovation asset will not stay yours for very long,” he explained.