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Commercialisation of Scientific Innovation in India: Regulatory Aspects
Abstract
Industry 4.0 is a revolutionary transition characterized by more significant innovation and interconnectedness, with intellectual property (IP) playing a prominent role. Intangible assets such as copyrights, trademarks, patents, and trade secrets are critical for innovation, development, communication, and promotion. Monetizing IP is a strategic imperative that allows firms to translate IP assets into marketable goods or services, resulting in new income streams and strengthened market positions. Some nations have favourable legislation that encourages IP commercialization. However, local hurdles, mandated IP licensing, and licensing restrictions may all impede this process. This chapter educates inventors, researchers, and businesses on the value of intellectual property rights and how to commercialize them. Effective commercialization is critical for realizing IP's actual value and economic advantages.
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