Public Patent Foundation to launch in 2014

Public Patent Foundation to launch in 2014The state is ready to pay for the protection of Russian startups’ developments in foreign markets. This will be done through a specially created public fund for patenting to launch in 2014.

The creation of such fund provides for a finalized plan of activities to develop intellectual property rights in Russia. The Deputy Minister of Education and Science Andrey Povalko has sent such plan to the RF Government Office. The proposal to establish the fund has been approved by the government in the Ministry of Education and Science.

The plan indicates proposed mechanisms of support and protection of intellectual property rights developed under the government order by the Ministry of Education and Science, Russian Venture Company OJSC (RVC) and Foundation for development of the New Technologies Development and Commercialization Centre (Skolkovo Fund).

RVC initiated the creation of the fund. The main activities of the future fund are information technologies, pharmaceuticals, bio- and ecotechnologies, composite materials and other high-tech sectors of the market.

The fund will be managed following the model of WIPO (World Intellectual Property Organization) and the USSR State Committee for Inventions. The Council to manage the organization and conduct selection of patent applications will be formed once in several years.





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