India-US MoU on Intellectual Property cooperation

India and the United States have signed a Memorandum of Understanding (MoU) on Intellectual Property cooperation.

Highlights

• The MoU was signed between Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry and US Patent and Trademark Office, Department of Commerce of the US.
• Union Cabinet had gave the approval to sign the MoU with USPTO in February 2020.

About the MoU

• The MoU is aimed at increasing the Interllectual Property co-operation between both the countries.
•  The MoU will facilitate the exchange and dissemination of best practices, experiences and knowledge on Intellectual Property among the public.
• It will also share the best practices among the industry, universities, research & development organizations and the Small & Medium-sized Enterprises.

United States Patent and Trademark Office (USPTO)

It is an agency of the U.S. Department of Commerce. The agency issues patents to the inventors and businesses for their inventions. It also issues patents for the trademark registration of the product and intellectual property identification. This agency is unique among all the federal agencies. This is because USPTO operates only on fees collected by its users. It does not operates on taxpayer dollars. The agency has been headquartered in Alexandria, Virginia. It cooperates with the European Patent Office (EPO) and the Japan Patent Office (JPO). The has also established a Receiving Office, an International Searching Authority and an International Preliminary Examination Authority to look after the international patent applications.

Intellectual Property in India

It refers to the patents, copyrights and other intangible assets in India. The first Intellectual Property Rights Policy in India was approved in May 2016. Intellectual Property is administered by the Office of the Controller General of Patents, Designs & Trade Marks (CGPDTM).