What is Intellectual Property India
Intellectual property is an intangible property or proprietary asset, which applies to any product of the human intellect that has commercial value.
Intellectual Property Rights (I P Rights) are one’s legal rights in respect of the ‘property’ created by one’s mind – such as an invention, or piece of music, or an artistic work, or a name or slogan or symbol, or a design, which is used in commerce, in the form of books, music, computer software, designs, technological know-how, trade symbols, etc.
These rights are largely covered by the laws governing Patents, Trademarks, Copyright and Designs. These various laws protect the holder of IP rights from third party encroachment of these rights. It also allows them to exercise various exclusive rights over their intellectual property.
Intellectual property laws and enforcement vary widely from jurisdiction to jurisdiction. There are inter-governmental efforts to harmonise them through international treaties such as the 1994 World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs), while other treaties may facilitate registration in more than one jurisdiction at a time.
With companies, institutions and individuals constantly forging ahead in newer fields and geographical territories and with path breaking inventions becoming the norm, the field of Intellectual Property Rights has assumed primordial importance, especially in emerging economies like India.
Intellectual Property India
Laws related to INTELLECTUAL PROPERTY INDIA
IP or Intellectual Property is considered to be human intellect's creation and refers to knowledge, ideas, creativity, innovation, research, and much more. All of these are termed to be the human mind's product and is quite similar to any type of property, be it immovable or movable, wherein the owner or proprietor might exclusively make use of his property at his will and have the right for preventing others to use it. In short, no one can use it without getting prior permission from the owner. The rights that are related to these rights often are termed as IPR and the country has its own law.
With worldwide rapid expansion in commerce and multilateral trade taking place, it is inevitable for every country to safeguard its intellectual property and to provide statutory rights to inventors and creators and to assist them to fetch appropriate commercial value for the efforts in world market. Intellectual property helps to protect rights of inventors across the world.
Different types of intellectual property India
IPR is known to provide exclusive rights to creator or inventor and encourage people in huge numbers to invest their money, efforts and time in such creations and innovations. As a matter of fact, intellectual property rights have been divided customarily into two major areas, namely:
- Copyright and copyright related rights: Authors of artistic and literary works (like books and various other writings, paintings, musical compositions, films, computer programs and sculpture) are adequately protected by copyright. Moreover, intellectual property India protection is said to be granted to the related or that of neighboring rights such as performer rights (like singers, musicians and actors), broadcasting organizations, phonographs producers (sound recordings), etc.
Industrial property that is divided into two major domains
- One particular area could be characterized as safeguard of distinctive signs, especially trademarks (that clearly distinguish the services or goods of an undertaking from those from the other undertakings), geographical indications (identifying an item as originating from a place where given characteristic of said item essentially is attributable to the geographical origin).
- The other industrial intellectual property types which are primarily protected for stimulating design, innovation and technology creation. This category tends to include industrial designs, trade secrets and inventions (patent protected).
Intellectual Property Rights issue was actually brought by WTO (World Trade Organization) on international negotiation platform through Agreement on TRIPS (Trade Aspects related to Intellectual Property Rights). This specific agreement is said to have narrowed the existing differences down to the extent of enforcement and protection of IPR across the globe by having them brought under a general minimum international agreed standards of trade. Member countries of this group are needed to abide by the set standards within a stipulated time frame. Hence, India being TRIPS signatory has evolved into an elaborate legislative and administrative framework for safeguarding of its intellectual property.