Nepal Introduces New Industrial Property Act to Modernize Intellectual and Industrial Property Administration

Kathmandu. Hesitation of foreign investors to come to Nepal, outright theft of startup youth's 'business ideas', and the rampant sale of substandard goods in the market in the name of Jumla's apples or Palpa's Dhaka, all these problems had a single main root – a legal system nearly six decades old.

The 'Patent, Design and Trademark Act' enacted in 2022 BS was unable to cope with the current era of artificial intelligence, startup ecosystems, and globalization.