MSMEs, startups to benefit from WIPO IP diagnostic tool Indian adaptation

The recent launch of the self-assessment tool by World Intellectual Property Organization (WIPO) on IP diagnostics will be a game changer for doing business for MSMEs and startups in India. This is a self-audit tool regarding a business to best tailor the required questions. It helps to answer a set of questions regarding the business and based on the outcome, it will help to deep dive to various IP verticals.

Currently, many MSMEs and Startups do not have budget and bandwidth to hire IP professional to have their IP audit done and lose out in the business and IP strategies in today’s competitive world. Now, with this launch, any MSME and startup can easily self-assess their needs in IP and then work on it and build their IP portfolio. The IP diagnostic tool is free of cost and available on the Indian IP office portal.

The IP diagnostic tool will help MSMEs and startups to chalk out their IP road map and help in overall IP Management. It’s a great tool for companies who are embarking on their IP journey to be self-guided and assisted in the first stage and then go for the professional advice as per their needs and assessment from the IP audit tool.

Subhajit Saha, Head Legal& IP of Resolute Group says, “This is a welcome step in IP ecosystem, by which companies can build their own IP audit report and there after work on their business strategy. The tool can be used by both manufacturing and service companies to find out their IP gaps and requirements. It covers all aspects of IPRs including websites, licensing, enforcement, employment aspects etc.”

“Overall, the tool is gives you a holistic and 360-degree comprehensive assessment on the sections of Intellectual property Rights (IPR) where in a company needs to focus more and give relevant reports for improving the business,” he informed.