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AICTE has asked all the institutes to share patent rights with the students for on-campus inventions. As per the AICTE's policy, when the funds and facilities of any institute are used for a certain invention, then IPR has to be owned jointly by the institute and the inventor.
AICTE requests all the institutions to share the patent rights with the students for on-campus inventions. The policy also entitles researchers or faculty members or students to sole ownership of the patent rights if they developed the products without using any facilities and funds of the institution and the work is conducted outside the working hours.
The academic bodies need to share the patent rights with the researcher if the institute facilities are used for developing technology or product as per the All India Council of Technical Education (AICTE) guidelines. The policy issued by AICTE said that when the funds and facilities of any institution are used for a certain invention or development then the IPR should be jointly owned by the institution and the inventor. They could license the product to any commercial organisation, however, the inventors will have the major say.
The policy also mentioned that institutes cannot hold any equity as per the recent policy thus, SPV is requested to hold equity on behalf of the institute.
Again, if the inventions or developments are solely done by the inventors without using any institute facilities or funds and also not during the office hours then the IPR of the product will be solely owned by the inventors. In this case, the inventors can take decisions related to the product and also can hand over the license to the third party if they desire.
Also Read:Student Development Scheme by AICTE
In case there is any dispute, a five-member panel will be responsible for taking a final call on the patent ownership.
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