The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of a Memorandum of Understanding (MoU) between India and Italy. This MoU involves cooperation in the field of Industrial Property Rights and will be facilitated by the Department for Promotion of Industry and Internal Trade in India and the Directorate General for the Protection of Industrial Property Italian Patent and Trademark Office in Italy.
The primary objective of the MoU is to establish a mechanism promoting cooperation activities in intellectual property (IP) and information technology services related to this field. It aims to support enterprises, particularly start-ups and SMEs in accessing and participating in national and international intellectual property systems. Additionally, the MoU seeks to streamline procedures related to the processing of IP applications, foster IP awareness, and encourage the commercialization and enforcement of intellectual property rights.
The activities under this agreement will provide a platform for the exchange and dissemination of best practices, experiences, and knowledge in the field of intellectual property rights. This will be achieved through participation in programs and events organized either individually or jointly by the participating countries.
In conclusion, the Memorandum of Understanding between India and Italy on Cooperation in the field of Industrial Property Rights is designed to enhance collaboration, facilitate the development of intellectual property-related services, and support the growth of enterprises especially smaller ones in navigating and benefiting from national and international IP systems.
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