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India's remarkable ascent in the Global Innovation Index (GII), securing a spot among the top 40 countries, highlights its growing expertise in innovation, mostly driven by breakthroughs in information and communication technologies. India's innovation landscape has experienced significant growth, as evidenced by its rise from 81st place in 2015-16 to 46th place in 2021 on the GII rankings. Amidst this changing situation, the importance of higher education institutions as crucial contributors to the innovation and intellectual property landscape is becoming increasingly evident. As per the 2021-22 annual report by the office of the controller general of patent design and trademark, universities account for three out of the top five patents in the IT sector. Moreover, the increasing quantity of applications submitted in these fields reflects the Educational Institutions' dedication to innovation. This study examines the legal structure that regulates the commercialization of intellectual property in Indian higher education institutions. This paper explores the legal intricacies related to the production, ownership, and monetization of intellectual property assets in academic environments, considering the evolving innovation landscape in India and the growing influence of academic research on economic progress. The findings from this preliminary inquiry are anticipated to provide useful insights into the legal dimensions of intellectual property commercialization. These insights will drive future research and policy initiatives aiming at improving the legal framework that supports academic innovation in India.
Patil et al. (Fri,) studied this question.