ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles By Intellectual property

Taxation of Non-fungible Tokens

India took its first step towards regulating non-fungible tokens when the Finance Bill of 2022, in particular Section 2(47A) and notifications 74 and 75 of 2022, were introduced. However, these amendments seem to be insufficient and superfluous given the complex and novel subject matter of NFTs. An attempt is made to dissect the provisions and examine the bill.

To Patent or Not?

India has undertaken many regulatory and legislative reforms to promote innovation and patent protection by universities and academic institutions. To achieve this broader policy objective, it is crucial to identify factors and motivations that drive academic researchers to file patent applications. We provide an empirical estimation of the extent to which patenting by academic institutions in India is affected by factors like institutional policy frameworks, departmental differences, and individual researchers’ characteristics. Using the Heckprobit estimation method and zero-inflated binary outcome techniques, we find that the absence of supportive institutional infrastructure, coupled with making patents a mandatory criterion for career advancement, results in low patent application probability and intensity.

Natco-Bayer Verdict

Bayer has lost its case challenging the grant of India's first-ever compulsory licence to Natco Pharma to manufacture an affordable generic version of an anti-cancer drug, but the celebratory air has to be tempered. The issue of what constitutes "local working" of a patent in India remains, in general, unsettled. This article looks at the legality of local working requirements under the Agreement on Trade-related Aspects of Intellectual Property Rights. It also analyses the interpretations of "working" by the Controller General of Patents, Designs and Trademarks, the Intellectual Property Appellate Board, and the Bombay High Court, and considers their broader implications.