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Patent legislation in Budget session: Sibal(The Statesman (India) Via Thomson Dialog NewsEdge) Statesman News Service HYDERABAD, Nov. 3: Union minister for science and technology Mr Kapil Sibal today said that the Centre would bring a new legislation in the next Budget session of Parliament providing for payment of royalties and share in license fees for scientists who patent their innovations. The proposal is that researchers of public sector R&D institutions be paid 30 per cent royalty once their patented products are commercialised. Such an incentive-based approach would help create more patents, he said after laying the foundation stone for the Clinical Research Facility for stem cells and regenerative medicines. This is Indias first such facility and will be operational by January 2009. In a globalised world, we need to commercialise products and the wealth generated from them should be ploughed back into research projects to make more discoveries, he said. Among the several innovative ideas to ensure wealth creation by scientific institutions is a proposal to allow project financing by private companies on specific research projects, he said. Copyright 2007 The Statesman Ltd, Source: The Financial Times Limited |