Under the existing Intellectual Property (Rights) regime in India, thousands of promising innovations and inventions remain un-patented. The new Intellectual Property Rights policy plans to change that. The first draft of the (IPR) policy released on December 19, 2014, emphasizes on the need to formulate a new IP law to facilitate the patenting of various ground-breaking Indian inventions.   In November, 2014, the Government formed an IP think-tank under former IPAB (Intellectual Property Appellate Board) chairman justice, Prabha Sridevan, which…