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Natioal Innovation Act of 2008

Natioal Innovation Act of 2008

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Published by mullookkaaran

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Categories:Types, Research
Published by: mullookkaaran on Feb 15, 2009
Copyright:Attribution Non-commercial


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Comments May Please be sent to Secretary, Department of Science andTechnology (DST) at dstsec@nic.in
The National Innovation Act of 2008[ACT [•] of 2008]PREAMBLE
 An Act to facilitate public, private or public- private partnership initiatives for buildingan Innovation support system to encourage Innovation, evolve a National Integrated Science and Technology Plan and codify and consolidate the law of confidentiality in aid of protecting Confidential Information, trade secrets and Innovation.
1. Short Title, Extent, Commencement and Application
(1) This Act may be called the National Innovation Act of 2008.(2) The Act applies to the whole of India.(3) The Act shall commence from the date of its notification.
2. Definitions
In this Act, unless the context otherwise requires:(1) “
 Angel Investor 
” means a person, or entity that provides risk capital to start upventures established for facilitating and encouraging Innovation (whetherproprietorships, partnerships or cooperatives or companies or any other legalentity), not involved in the management, but adding value through association byproviding access to commercialization of products and services through its social,professional or business networks and expertise.(2) “
 Appropriate Government 
” means either the Central Government or the StateGovernment.(3) “
Confidential Information
” means information, including a formula, pattern,compilation, program device, method, technique, or process, that:(a) is secret in that it is not, as a body or in the precise configuration andassembly of its components, generally known among or readily accessibleto persons within the circles that normally deal with the kind of information in question;

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