The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post approval for the Memorandum of Understanding (MoU) between India India and Canada. The MoU was signed on 23rd February 2018 to establish bilateral cooperation activities in the field of Intellectual Property (IP). The MoU is intended to promote innovation, creativity and economic growth in both countries.
The MoU establishes a broad and flexible framework through which both countries can exchange best practices and work together on training programs and technical exchanges to raise awareness on IPRs and better protect intellectual property rights (IPRs).
The priority initiatives under the MoU include:
- Exchange of best practices, experiences, and knowledge on how to raise IP awareness among the public, businesses and educational institutions of both countries;
- Exchange of experts for interacting with the human resources engaged in specialized IP fields;
- Exchange and dissemination of best practices, experiences and knowledge on IP with industry, Universities, research and development organizations and Small and Medium-Sized Enterprises (SMEs) through participation in programs, training, and events, organized singly or jointly by the participants;
- Cooperation in the development of automation arid implementation of modernization projects, new and existing documentation and information systems in IP and procedures for management of IP;
- Cooperation to understand how traditional knowledge is protected; and the exchange of best practices, including traditional knowledge related databases and awareness raising of existing IP systems;
- Collaboration in IP related training for local IP and business communities, and
- any other cooperation activities they may mutually decide upon within the scope of this MoU.
(This is a reproduced press release from the government of India as it is. Devdiscourse bears no responsibility towards grammatical or factual errors that may have been presented in the report.)