Syllabus Section: Polity and International Relations
Why in news?
India and the US have signed Memorandum of Understanding on Intellectual Property cooperation. Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry signed the MoU yesterday with US Patent and Trademark Office, Department of Commerce of the US.
• The MoU was signed between Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry and US Patent and Trademark Office, Department of Commerce of the US.
• Union Cabinet had gave the approval to sign the MoU with USPTO in February 2020.
• The MoU is aimed at increasing the Intellectual Property co-operation between both the countries.
• The MoU will facilitate the exchange and dissemination of best practices, experiences and knowledge on Intellectual Property among the public.
• It will also share the best practices among the industry, universities, research & development organizations and the Small & Medium-sized Enterprises.
Source: News on All India Radio