Abstract

The IPR (Intellectual Property Rights) are gaining importance day-by-day. The Third World Countries are rising up to cope up with new IPR regime and striving to learn from experience of developed countries. The Universities located in these third world countries are making special efforts to promote IPR viz. Patents, Copyrights, Trade Marks and Industrial Designs in their system through its respective University IPR Policy. The present work analyzes the IPR policies of reputed technology and management institutes of India and critiques so as to make them more innovation-friendly to all stakeholders of University. The Bayh-Dole Act model which gave US universities the right to patent discoveries resulting from federally funded research has been discussed so as to draw lessons for third world country universities. Also the pitfalls of obsession with University patenting are highlighted. The paper calls for University IPR policy to promote public-private research joint ventures so as to develop financially sustainable innovative environment in universities of third world countries.