Personally i hate patents (may be since i cannot file one ;-) but we have to start creating lot of Intellectual Property.
New products should come..
We should have this scene in IT also.. Now with large IT companies got DEEP pockets they should invest more in R&D (May be buy small R&D firms to grow in-organically).
It's better to spin off and create new R&D division so that they can monitor the status seperately..
Like i guess TCS has R&D division in Pune..
"...Pune-based Tata Research Development and Design Centre (TRDDC), a division of Tata Consultancy Services (TCS)..."
