Session on Significance of Intellectual Property Rights in Empowering Innovation
26th April 2024
Institution’s Innovation Council (IIC), Ministry of Education (MoE), Dronacharya Group of Institutions, Greater Noida organized a session on “Significance of Intellectual Property Rights in Empowering Innovation” on 26th April, 2024. The session was taken by Mr. Abhinaw Vikash (L3Harris Technologies). B.Tech 3rd and Final Year students attended the session.
The speaker, an expert in the field, began by outlining how IPR serves as a fundamental pillar for fostering creativity and innovation. The speaker highlighted the fact that by legally protecting the fruits of intellectual labor—such as inventions, designs, and brands—IPR ensures that creators and innovators can reap the benefits of their efforts, thus incentivizing further innovation. Afterwards, various types of intellectual property, including patents, trademarks, copyrights, and trade secrets were explained to the students. For students, the importance of understanding these rights was emphasized. The speaker also highlighted real-world examples where effective IP management had been the key to transforming an idea into a successful commercial product, demonstrating the tangible benefits of safeguarding intellectual assets.
The students were encouraged to think about IP not just as a legal requirement, but as a strategic tool that can offer competitive advantage in the marketplace. By securing intellectual property rights, engineers can ensure that their innovations are recognized and valued, potentially leading to lucrative opportunities such as licensing deals, partnerships, or even the creation of startups. The session also addressed the global landscape of IPR, explaining how international laws and treaties affect the protection of intellectual property across borders, which is particularly relevant in today's globalized economy.
The session concluded with a lively Q&A, where students posed questions about the practical aspects of filing patents and the role of IP in startups. The speaker emphasized that while the process can be complex and sometimes costly, the long-term benefits of protecting innovation far outweigh the initial investment. Overall, the lecture provided valuable insights into how intellectual property rights are integral to fostering innovation and driving progress in engineering and technology.
Objective: Empower students to protect and leverage their innovations through IPR knowledge.
Benefits: Students were encouraged towards innovation, ensured legal protection, enabled commercialization, and fosters ethical use.