Intellectual property rights (IPR) are intangible assets, which gives an exclusivity or monopoly to the owner for a certain period. Intellectual property rights are Patents, Industrial Designs, Trademarks, Copyrights, Geographical Indications, Plant Varieties, and Trade Secrets.

Universities and public research institutions are among the direct contributors towards innovation and research, particularly in emerging economies. The potential pool of talent for innovation in these economies also emanates largely from educational institutions and research institutions. Off late, the significance of Intellectual Property Rights (IPR) in higher education has been widely recognised. This could be credited to the National IPR Policy approved by the Union Cabinet in May 2016, which was the first ever IPR policy framed by the Government of India.

The Need for Commercial Courts The concept of commercial courts – a dedicated fora aimed at resolving complex commercial disputes between parties – is an idea that has merit in its own right. This can be seen from the fact that around the world, many nations have adopted commercial courts as a means to ensure speedy delivery of justice in commercial cases.