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CS Professional · Intellectual Property Rights - Law and Practice · Biological Diversity

While approving an IPR application under section 6, the NBA wants to impose conditions on Veda Biotech Ltd on sharing the financial benefits of commercial use of the right. Which statement is correct under section 6(2)?

The NBA may impose a benefit sharing fee, a royalty, or both, or conditions including sharing of financial benefits arising from commercial use of the right. Section 6(2) is not limited to a one-time fee or to foreign applicants.

  1. AThe NBA may impose a benefit sharing fee or royalty or both, or impose conditions including sharing of financial benefitsCorrect
  2. BThe NBA can only impose a one-time fee and not royalty
  3. CThe NBA can impose conditions only if the applicant is a foreign entity
  4. DThe NBA cannot impose any financial condition and can only reject the application

Explanation

Section 6(2) lets the NBA, while granting approval, impose a benefit sharing fee or royalty or both, or conditions including sharing of financial benefits from commercial use. It is not limited to one-time fees or foreign entities.

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