Emerging Technologies: The share of emerging technologies continues to grow in technology patents. » Over 50 per cent of the patents filed during 2015-to 2021 were related to emerging technologies. » Alpatents more than doubled in the period 2015- 2021 compared to 2015-18, > Artificial Intelligence (Al) continues to lead in terms of total patents filed under various emerging technology domains. Machine Learning patents grew by over 2X maintaining its lead in Al International efforts to protect intellectual property rights: + Paris Convention: First step taken forthe protection of Industrial Property (1883) in other countries. It > Inventions(patents), » Trademarks, » Industrial Designs. Berne Convention: For the protection of Literary & Artistic Works (1886).It covers » Novels, short stories, poems, plays: » Songs, opera, musicals; » Drawings, paintings, sculptures, architectural works. Both are administered by the WIPO( World Intellectual Property Organization). IPRshave been outlinedtin Article 27 of the Universal Declaration of Human Rights. + The World Trade Organization (WTO) governs IPR through Trade-Related Aspects of the Intellectual Property Rights (TRIPS). About WIPO: + WIPOis one of the 15 specialised agencies of the United Nations. Aim: To promote and protect Intellectual Property. + HQ: Geneva, Switzerland Member State: 193 About Trade-Related Aspects of Intellectual Property Rights (TRIPS): ‘The Agreement on TRIPS is an international legal ‘agreement between all the member nations of ‘the Werld Trade Organization (WTO). + Iteame into force in 1995. Itis binding on all WTO members, + Itcovers Patents, + Copyrights, + Trademarks, + Geographical indications, + Industrial design, ‘Trade secrets and new plant varieties, What are patents? A patent is an exclusive right granted for an invention, which is a product or a process which meets conditions of nevelty, nen-obviousness & Industrial use. + Apatent provides the owner with the right to decide how and where the invention can be used by others. A patent in India is governed by the “the Patent ‘Act 1970” which was amended in 2005 to make it compliant with TRIPS. + Griteria to geta patentin India: » Novelty: This means that the invention must not have been made public before the date of the application, » Non-obviousness: This means that the product or process must be an inventive solution. It cannot be a solution that would be obvious to a manufacturer. » Industrial Applicability industrial application. It should be capable of What cannot be patented? » Frivolous Invention: An invention that harms public order/morality/health of animals, plants & humans, » Methods of agricultural erhorticulture. » Traditional knowledge » Computer programs and inventions related to atomic energy plants & animals. » Mere discovery of scientific principle, National Intellectual Property Rights Policy (2016): Abou The government had approved the National Intellectual Property Rights (IPR) Poticy in 2016 ‘that laid the future roadmap for IPRs in India. The Department for Promotion of Industry and Internal Trade (DPIIT), through the specially created Cell for IPR Promotion & Management (CIPAM), has bbeen instrumental in taking forward the objectives and vision of the Policy Articulate 77+ The Policy recognises the abundance of creative and innovative energies that flow in India, and the need to tap into and channel these energies towards ‘better and brighter future for all + It sets in place an institutional mechanism for implementation, monitoring and review. + It aims to incorporate and adapt global best practices to the Indian scenario. Objectives of National IPR Policy 2016: IPR Awareness: Outreach and Promotion - To create public awareness about the economic, social and cultural benefits of IPRs among all sections of society, + Generation of IPRs - To stimulate the generation of IPRs. + Legal and Legislative Framework - To have strong and effective IPR laws, which balance the interests of rights owners with larger public interest. + Administration and Management - To modernise and strengthen service oriented IPR administration. + Commercialization of IPR - Get value for IPRs through commercialization. + Enforcement and Adjudication - To strengthen the enforcement and adjudicatory mechanisms for ‘combating IPR infringements. + Human Capital Development - To. strengthen and expand human resources, institutions and capacities for teaching, training, research and skill building in IPRs, News Source: The Hindu Businessline CONCESSIONAL TAX RATE REGIME Why inthe News? The concessional corporate tax rate announced by the Union government in September 2019 saw two out of every five new domestic manufacturing companies incorporated in 2019-20 (April March) ‘opting for the reduced 15 per cent taxcrat + Corporationtaxisadireettaxplacedonacompany’s net income or profit from its operations. ral Articulate + Corporation tax is payable by both public and private companies registered in India under the Companies Act 1956. + Corporate tax is a tax imposed on the net income of the company, whereas income tax is a type of tax imposed on an individual's ineome, such as wages and salaries. About Concessional Tax Rate Regime: + Under the new regime introduced in September 2019, a tax rate of 15 per cent was announced under Section TISBAB for newly incorporated domestic companies + Before, this scheme, the Corporate taxrate, was 22% without exemptions. + Itwillbe applicable to newly incorporated domestic companies, which make fresh investments by 31st March 2023, for manufacturing, production, research or distribution of such articles or things manufactured. + This was extended by one year in this year’s Budget (2022-28) to 31st March, 2024, + If a company chooses the concessional tax rate means it cannot avail of exemptions, deductions or incentives provided under the old tax regime. » Even though the government has not yet published data on taxpayers opting for the new personal income tax regime, it is indicated that the new regime has not drawn taxpayers in large numbers prompting the government to take a relook. Impact of the Concessional Tax Rate Regime: + Tho Reserve Bank of India had earlier noted that the new tax regime did not help kick-start the intended investment cycle. » The tax rate cut may have been “utilised in debt servicing, build-up of cash balances and other current assets rather than restarting the Business cycle”, + Thegovernmentnotedthatnotallnewmanufacturing companies may have opted for provisions under Section TISBAB. Some may have opted for tax under the normal provisions, depending upon whether the same is more beneficial + The tax cut resulted in an economically meaningful 7% additional investments by beneficiary firms. News Source: The Indian ExpresspUDWaSseULW\ 190}SeSIG PPO UO Ces TAU S Mate