INNOVATIVE IDEAS FOR GEOGRAPHICAL INDICATIONS (IIGI) POLICY 2017
An Individual can generate exemplary Ideas but such Ideas are not always appreciated and recognized by the society they live in or the Organization they work for. If appreciated, it is either verbal or with a one-time incentive without giving any longtime credit to the Individual.
Geographical Indications Tagged World Premium Products (P) Ltd believes that all Ideas are intrinsically potential. In this regard the Organization has decided to provide a platform for all its employees where their Ideas can become concepts and concepts be developed into a functioning model. In addition to this, the Organization also believes that your Ideas must not only be appreciated and recognized but must also become a permanent source of your Income.
Features of the Policy
1. What your Ideas must deliver
• Ideas must be a selling point in itself.
• Ideas must be unique and specific in Nature.
• Ideas must be usable and practical.
• Ideas must be easily conceptualized
• Conceptualization of Ideas must be cost effective by making optimum utilization of available resources.
• Ideas must have huge Market potential.
• Ideas must be related to GI Tagged Handicraft and Handloom Products only.
2. Recognition and Share of Profit
• If an employee’s Idea is selected and becomes a selling product, then such employee will receive 1% of the profit on sales of that product on a quarterly basis.
• Ideas may be that of an employee or a group of employees.
• In case the Ideas are the outcome of more than one employee not exceeding four, then the profit of 1% on the sales will be equally divided among such employees.
• In additional to 1% of the profit on sales of a product, an employee may receive additional incentive and benefits based on the sales of such product as decided by the Organization.
• If an employee’s Idea get culminated into a product, then such product will be permanently recognized by the Organization in the name of such employee irrespective of their future association with the Organization.
• However, the recognition share of 1% of the profit on sales will cease to exist upon separation of the employee from the Organization.
All employee selected under the IIGI Policy in a given year will be awarded with, Innovative Ideas for Geographical Indications(IIGI) Award on the Founder’s Day, 18TH of April.
3. Ideas that do not qualify under this policy
• Minor changes to the existing product shall not be considered as an Innovative Idea, though it may result in selling of the product. However, if such changes result in considerable sales then the employee responsible may be provided with a onetime Incentive as decided by the Organization.
• Though certain Ideas may be used by the Organization, it doesn’t always mean that such Ideas are eligible for the recognition under the policy, however if such Idea results in considerable sales, then the employee responsible may be provided with the benefit of this policy from a specific date or a onetime Incentive as decided by the Organization.
• Ideas that may result in hurting the sentiments of any Individual or a community shall not be considered under the policy.
• If an Idea is the Outcome of a Group discussion consisting of more than four Employees, then such Idea will not be considered under the Policy.
3a. Generic and Vague Idea
• Generic and vague Ideas for example Stationary, Household items will not be considered under the policy. However, the Organization may evolve such generic and vague Ideas into specifics and conceptualize the same.
• In this regard, the Commissioner may create a Special Purpose Group (SPG) for the further realization of a Generic and Vague Idea with or without the consent of the employee or the employees responsible for the Idea. However, the employee responsible for the Idea shall be considered as an Integral part of such Group.
• Depending on the efforts made by the Special Purpose Group (SPG) for the realization of a Generic and Vague Idea into a selling product and based on the sales of the realized product, the employees of such group may receive one time Incentive either Individually or Collectively as decided by the Organization but it shall be outside of this policy.
4. Communicating the Ideas
• All Ideas must be communicated to the [email protected] via official email Id.
• A Brief write up about the conceptualization of your Idea, its usability and its unique selling point must be enclosed.
• The communication should also Indicate, the circumstance in which the Idea was generated.
• If there are more than one Idea of similar nature, the Idea that is first communicated via official email shall be considered.
• Once the Idea is selected the same will be communicated by the HR to all the Employees of the Organization.
5. Realization of Selected Ideas
• Once an Idea is selected under the Policy, the concerned employee must further develop the Idea as per the requirement and within the stipulated time frame as specified by the Commissioner.
• The Commissioner shall create a Special Purpose Group (SPG) for the further realization of a Selected Idea with or without the consent of the employee or the employees responsible for the Idea. However, the employee responsible for the Idea shall be an Integral part of such Group.
• Depending on the efforts made by the Special Purpose Group (SPG) for the realization of the selected Idea and the sales of the realized product, the employees of such group may receive one time Incentive either Individually or Collectively as decided by the Organization.
• The Ideas selected shall have a validity of one months for its realization, failing to do so, the said Idea shall be considered as Vague and shall remain outside the preview of this policy. However, if such Idea is taken up by the Organization in near future then condition as stated in 3a shall become applicable.
• However, depending on the nature of the Idea, the commissioner may extend the time duration required for the realization of the Idea selected. However, under any circumstances the duration for the realization of the selected Idea shall not be extended more than twice.
• If an Idea is realized but not taken up by the Organization, then such Idea shall remain under this policy and once realized into a product, the employee responsible shall become eligible for the recognition and provision of share of 1% of profit on sales with Immediate effect.
• The HR of the Organization shall maintain a data base of the Ideas, its Owners and the Special Purpose Group (SPG) involved in realization of the Ideas.
• The Special Purpose Group(SPG) may be created in consultation with the senior most employees of the Organization and shall cease to exist once the selected Idea has been realized into a selling product.
• The Products generated out of the Ideas given by the employees of the Organization shall solely belong to the Organization and the Organization shall have the full liberty to file for patents, copyrights, trademark, Industrial designs and shall have all IPR rights.
• The duration of sales of products realized under IIGI Policy shall be at the discretion of the Organization.
• In case of any conflict that arises between the Employees in implementing this policy, the decision of the Ad-hoc committee created by the commissioner in consultation with the Additional commissioner will be final.
• If any employee is found to have misled the Organization or attempts to use any unfair means to take the benefit of the IIGI Policy, then disciplinary action shall be initiated against such employee without any hesitation.
• The Organization may revise the IIGI policy from time to time for its effective implementation. However, such change in policy shall not result in reduction of the allocated recognition share of 1% of profit on sales.