India's Council of Scientific and Industrial Research blew so much money on rubbish patents, it's gone broke

CSIR-Tech is the commercial arm of the Indian government's Council of Scientific and Industrial Research; after spending ₹50 crore (about USD7.6M) pursuing more than 13,000 "bio-data patents" (patents of no real value save burnishing the credentials of the scientists whose names appear on them), they have run out of money and shut down. (more…)

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