Abstract

The rise of economy and information technology is fast transforming the intellectual property and technology commercialization in the developing world, particularly in India. absence of awarenesss, strong domestic pressure groups, lack of consortium of IP attorneys and scientists, biotechnology firms and private sponsored research coupled with increase in brain drain have tremendously affected growth of knowledge economy and value creation. With a new patent law of 2005 in place along with new regulation, which will allow Indian scientists to float their own companies, India is poised to overcome most of these challenges. Indeed, recent results show this is the case, reflecting the success India gained in developing computer technology just a few years ago. It is anticipated that this environment shall foster and facilitate new therapeutic approaches to devastating diseases, particularly chronic diseases of aging.

Key words: Wealth creation, research, commercialization, knowledge, economy.