Understanding Technology Transfer Regulations In India

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Toretain or strengthen a business, and competitive position in the market, new technology invention or adoption has become quintessential. Companies in industries like the extraction or commercialization of raw materials may rely on new technologies to increase the efficiency of their raw material extraction through the improvement of their production processes or the acquisition of new machinery and equipment. Companies also leverage modern technology to enhance management structure, control, and communication, or to effectively market their products. Technological Innovation is an essential component of every company’s competitive strategy.

Technology Transfer refers to the transfer of a technology, knowledge, know-how, or facility from one person, business, or organization to another. It enables partners to share their expertise to expand into new markets, commercialise a new good or service, or enhance an already existing good or process, and to sell their goods/services swiftly.

The transfer of the exclusive rights to a patented technology or the permission to use a specific technology or know-how occurs through the establishment of legal relationships between the “transferor,” who is the owner of the exclusive rights or the supplier of the know-how, and the “transferee,” who purchases them.

Table of Contents

Importance

Technology Transfers and their agreements are important as –

1. They strengthen commercial ties

2. TT Agreements make a legally-binding, contractual agreement that is enforced by both parties.

3. Handle intellectual property, including ownership, licencing, and royalties (such as patents, copyrights, trademarks, and industrial designs).

4. Help in accessing technology

5. Provide adaptable protection for one or more categories of intellectual property rights.

6. Resolve disputes over contracts by referring to the relevant terms included in the Technology Transfer agreement and provisions of Technology Transfer Regulations valid in India,

7. Enable the non-licensing transfer of technology pertaining to methods, know-how, and trade secrets.

8. Identify the goal of technology transfer – creation of new goods, expansion into new markets, legal and tax implications, and litigation rights.

Technology Transfer Regulations In India

The Technology Transfer Regulations in India are as follows: –