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August 16th, 2007
Once the rules regarding ownership and revenue sharing is in place, partnerships between individual scientists, universities and the government in research is expected to get a major boost, said a scientist. Currently, many of the basic research projects taking place at the university level do not benefit the consumer or the state as they are not directed towards a marketable product, in the absence of private participation from the beginning.
The new law is being modelled as per America's National Technology Transfer and Commercialisation Act, which has its roots in the Patent and Trademark Act Amendments of 1980 known as Bayh-Dole Act. The government now funds research by universities, pharmaceutical, biotechnology and nanotechnology companies under various schemes operated by the ministry of science and technology. The new law is expected to cover all these.
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