Intellectual Property Rights awareness among MSMEs in India

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Chinmaya Kumar Mohapatra, Prof. S. A. K. Azad

Abstract

Small and Medium- sized enterprises (hereinafter called SMEs) had always been the backbone of emerging markets. SMEs account for over 90 per cent of these businesses in economies as such. The driving force behind SMEs is the large number of developments that have led to national economic growth through job development, wealth creation and value-added exports. Therefore, because this development is focused on creativity, Intellectual property rights (hereinafter IPRs) gained parallel significance. IPRs have profound impact on the economic, social and technical dimensions in the knowledge-based society of the time development. New products, brands and innovative designs that have been the result of continuous innovation and growth in SMEs appear nearly daily on the market. Therefore, it is important to provide SMEs' IPRs with a robust policy framework and considerable legal protection against unauthorized exploitation in particular, in order improve such business environment and foster innovation in this area. This research paper explores the role of the institution in raising awareness of strategic advantages and in protecting SMEs' innovative and creative potential through intellectual property rights in India

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