Vikrant Rana, Managing Partner at S.S. Rana & Co., was invited at All India DIC Meet 2019 to speak as a panelist for the session on ‘IPR and Technology Licensing’ on April 11, 2019 at the Dr. Amebedkar International Centre (DAIC), Janpath, Windsor Place, New Delhi. The meet was organized by Design Innovation Centre (DIC) /School of Planning and Architecture (SPA), and was attended by budding entrepreneurs, officers from ministries and industry partners.
The session was titled ‘ IPR and Technology Licensing’ and was moderated by Prof. B. Gurumoorthy, DIC Coordinator, Indian Institute of Sciences IISc Bangalore. The other panelists of the session were Dr. H. Purushotham, Chairman & Managing Director, National Research Development Corporation NRDC and Dr. Malathi Lakshmikumaran, of Lakshmikumaran & Sridharan. The important points of discussion during the session were the importance of filing Intellectual Property at the right time and ripping the benefits of the same by monetizing it.
Vikrant sensitized the budding entrepreneurs about the need of fencing their designs and inventions by filing suitable IPRs. During the session, he stressed on the lifecycle of IPR in three steps:
- IPR awareness
- IPR filings
- IPR monetization
He presented the trends of Patent and Design filings within the country. This point was also focused upon by Dr. H. Purushotham. He then explained that IP monetization can happen best by technology transfer. For businesses, this step would ensure that their market is broadened by licensing or selling their technology. He also elucidated on the specifics of technology transfer process so that the new businesses, especially startups, don’t see it as a challenge and get lost in the sea of innovation and technology proliferation. He ended the session by illustrating the potential of ‘tech transfer’ used at its best by the IITs in India.