Preamble

In a world increasingly propelled by technology, Institute Research is the foundation of any nation’s economic growth.“Knowledge is Wealth” – From ideas to novel products knowledge is being created in today’s increasingly globalized and liberalized economy. Modern world is thriving on knowledge-based economy with huge thrust on innovations and inventions. Intellectual property Rights have become significant issue of discussion in last 10-15 years with the emergence of WTO agreement on intellectual property rights. Intellectual Property Rights is an umbrella term that includes Patents, Copy Rights,Trade Marks, Design Registration, Trade Secrets and Geographical Indications.IPR is an essential part of protecting, capitalizing one’s own inventions and recognize how to commercialize the invention at an appropriate time.

Withthis background, need was felt to bring awareness on IPR among Staff & Students. Academic institutions are the best places to stimulate and promote creativity. IPR cell adopts a sound IP strategy, to secure IPR for a large base of knowledgeable Faculty and highly talented Students in the Institute.With Government of India’s emphasis on Start-up India and Make-in-India programs, Institutions play a key role in creating young entrepreneurs to build their own idea startups.

The IPR Cell provides a platform to share and discuss the latest development and applications with practical exposure and extends its help to innovators including faculty members, students and research scholars. Vidya Jyothi Institute of Technology, IPR Cell is dynamically involved in bringing all the stake holders together.

IPR Policy

Scope:

The policy includes all intellectual property rights created, developed or generated by faculty members, employees, students and scholars (internal and external), people employed in sponsored research and consulting projects, including the professors involved in teaching researchin the college. Further IPR Cell supports in disseminating information on Patents, inventions, copyrights, know-how and non-disclosed knowledge which are part of IP originating from scholarly studies.

Policy Statement:

The Institute is committed in promoting, preserving, maintaining and selling intellectual property, understanding that educating, studying and fulfilling the desires of the culture and society are key artifacts and roles. It encourages commercialization of IP activities, which will provide the Institute with extra income and support workers/faculty and students. The Institute respects common intellectual values and aspirations at the same time.

Revenue sharing:

Revenues accruing from commercial IP operations would be appropriately shared between the inventor(s) and the Institute, including the Technology Transfer fee and subsequent royalty payments. This is currently 60:40, if the Institute reassigns IP to its inventor(s) / creator(s), it shall pay all costs incurred, including protection, servicing, marketing and other related expenses.

Infringements, Damages, Liability Policy:

As a policy, the Institute shall seek compensation for factory defects, manufacturing problems, design guarantees, upgrading, and debugging obligation in any contract between the licensee and the Institute. The Institute shall retain the right to engage in patent or license breach litigation or not.

Dispute Resolution:

The aggrieved party could appeal to the Director of the Institute in the event of disagreements between the Institute and inventors concerning the IP Policy application. There will be attempts to resolve the opposing party’s issues. The judgment of the Director is definitive and binding in this respect.

Legal Jurisdiction:

As a policy, all agreements signed by the Institute and dispute(s) arising there from, will be subject to the legal jurisdiction of the Court of Adjudicator at Hyderabad, Telagana State, India only and the policy shall be governed by appropriate laws of India.