The Department of Biotechnology is planning to bring a legislation to promote, protect and optimize the potential of public funded research and development in biotechnology and life sciences by regulating the intellectual property rights.

The draft bill titled `Public funded R&D (protection, utilization and regulation of intellectual property) Bill 2007' has already been sent to the Cabinet for approval. The Department sources said the bill is likely to be presented during the budget session of the Parliament.

The bill proposes to promote and optimize the public funded R&D in a manner that is beneficial to the inventors as well as the public. It would also encourage innovation in the small and medium scale sector of growing biotechnology area.

The sources said the bill would give impetus to collaborations between government and non-government organizations besides catalyzing commercialization of IP generated out of public-funded R&D projects.

The Centre has been investing large amounts of funds in R&D in biotechnology and the new bill would seek to refine and further develop the outcomes of these researches by finding applications for the benefit of the people.

DBT also has plans to set up Intellectual Property Management and Technology Transfer Offices in the State and Central-funded universities and institutions. It will be a transfer mechanism for these research outcomes to migrate from the university and research laboratories to the market place for benefit of the society, sources said.

The office will not only assist in the protection of IP generated within its institution or organization, but will also serve as a platform for generating revenues for further research and development activities. DBT will provide financial support initially for three years for this scheme which would be reviewed thereafter.