A new law that is about to take effect in India will allow companies to buy intellectual property rights from each other and sell them to third parties.
The law will be in effect for two years from April 1.
The new law is a major boost for Indian IT companies, which have been struggling to compete with multinationals.
Indian firms are already selling their own intellectual property, but the new law will allow them to also buy the rights of others.
India has the world’s largest number of companies that are not registered in any country, but most of them are based in the United States.
The law will also allow the country to expand its role as an intellectual property hub and a source of technology for India’s private sector.
The country is currently home to more than 50,000 private companies and there are a number of startups that are focused on developing and selling products and services in India.