Intellectual Property Rights News Essay
1.Intellectual property rights: US set to punish India
The Indian embassy in Washington DC too scheduled a briefing by its economic and commerce wings soon after the expected US action.
TNN | Feb 10, 2014, 10.28PM IST
WASHINGTON: It's not looking good between New Delhi and Washington. Tensions over the Khobragade episode are yet to fully dissipate, but the two sides are locking horns again over intellectual property rights. The Obama administration is scheduled to announce unspecified ''trade enforcement action'' against India on Monday evening (Tuesday am IST) Washington time.
United States trade representative (USTR) Michael Froman and general counsel Timothy Reif will …show more content…
In India's booming startup sector, where nearly two companies are launched every day, starting up is proving to be the easy part. But once these ventures are up and running, entrepreneurs find that key customers, investors and favourable policy environments are all overseas.
This is especially true for technology startups like Wifinity that create intellectual property. Scores of such startups are registering in Singapore, the US and even Hong Kong as they believe this will help them grow bigger and deliver better exits to early investors. About half a dozen startups backed by the Indian Angel Network have moved overseas in the last year alone.
Experts caution this can prove to be the biggest challenge for India in the coming years. "People are not just leaving. They are leaving with multimillion-dollar ideas," said Mahendra Swarup, president of the Indian Venture Capital Association.
A combination of high taxes, restrictions on credit card payments and weak intellectual property laws are the top reasons for the exodus. There are 16 different direct and indirect taxes