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WHAT IS INTELLECTUAL PROPERTY?
Intellectual property is defined as mind creations: inventions; artistic or literary; and names, symbols, images used in business. There are two types of intellectual property:
Industrial Property: including patents for inventions, industrial designs, trademarks and geographical indications.
Copyright: covering literary works (including poem, novels and plays), music, films, artistic works (paintings, drawings, sculptures, photographs) and architectural design. Copyright covers producers of phonograms in their recordings, performing artists in their performances, and broadcasters in television and radio programs.
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Intellectual property rights (IPR) are similar to any other property right. They provide a scope to owners, inventor or creators, of patents, trademarks or copyrighted works to receive the benefit of their own investment or work in a creation. IPR are outlined in Article 27 of the Universal Declaration of Human Rights, stating that it guarantees the right to benefit from the protection of material and moral interests, which may result from authorship of literary, scientific or artistic productions. The need for intellectual property was first acknowledged in the Berne Convention for the Protection of Literary and Artistic Works (1886) and Paris Convention for the Protection of Industrial Property (1883).
There are many reasons to do so. First, the well-being and progress of humanity depend on its ability to invent and create new works in the areas of culture and technology. Second, legally protecting new creations keeps doors open for pouring in of additional resources for further innovation. Third, the protection and promotion of intellectual property spurs economic growth, creates new industries and jobs, and up life’s quality and enjoyment. An equitable and efficient intellectual property system can awaken all countries to the importance of potential of intellectual property. It acts as a catalyst for social and economic development, and cultural well-being. The Intellectual property system maintains a balance between innovators’ interests and the public interest.
Intellectual property rights reward human endeavor and creativity, which propels progress of humankind. For instance, the multibillion dollar recording, film, software or publishing industries –bringing pleasure to a vast number of people worldwide – would fail to exist in the absence of copyright protection. Sans the rewards maintained by the patent system, inventors and researchers would have no motivation to keep producing more efficient and better products for consumers. Consumers, on the other hand, would be robbed of their potential to purchase services or products without the protection of international trademark. The enforcement mechanisms to discourage piracy and counterfeiting help boost their confidence
A patent is an exclusivity right provided for devising a new process or product. A patent guarantees owners of protection with their inventions for a tenure of usually 20 years.
While protecting intellectual property, an invention that fulfills the below mentioned conditions are given patent protection. It must have a ‘novelty’ factor and should be of good practical use, meaning having no link whatsoever to “prior art”. The invention should be an ‘inventive step’, meaning in its absence an average person with limited knowledge cannot fathom the process in the technical field. Invention’s subject matter, under the law, should be accepted as ‘patentable’. In some nations, mathematical methods, scientific theories, animal or plant varieties, commercial methods and discoveries of natural substances are not considered patentable.
A trademark is a distinct sign identifying certain services and goods provided or produced by a person or a group of persons or company. It can be dated back to ancient times when artistic products or works of practical and functional nature were secured by craftsmen by reproducing their ‘marks’ or signatures. Over a period of time, these signs have evolved into what we today know as trademark protection and registration.
A Trademark protects genuine owners by giving them the exclusive rights to use the product or service, or to authorize other person/s to use them in lieu of payment. The trademark protection period varies, though the trademark can be renewed indefinitely by paying a corresponding fee. In case of trademark protection, courts have the legal authority to stop infringement of trademark. In a broader perspective, trademarks promote enterprise and initiative worldwide by rewarding owners with financial profit and recognition. Trademark protection also puts a stop to unfair competitors/ counterfeiters using similar marks to sell low-quality or different services and products.
As part of Intellectual property area, Copyright laws provides artists, authors, and other creators an immunity from duplication of their artistic and literary creations, mostly referred to as ‘works’. A field closely associated with it is “related rights”, which are the copyright-related rights encompassing rights identical or similar to copyright. Related rights, however, can be of limited or shorter duration. Those who benefit from related rights are: phonograms producers (such as compact discs) in their sound recordings; performers (like musicians and actors) in their performances; and broadcasting companies in their television and radio programs. The products that get copyright covers are, poems, newspapers, novels, films, reference works, advertisements, plays, databases, computer programs, musical compositions, choreography, paintings, drawings, photographs, maps, architecture, sculpture, and technical drawings.
All that we have discussed above form a core part of the Intellectual property scenario across the globe. There are, however, many aspects of intellectual property rights that affect the creations (product or services) in diverse industries. Every industry further has its formulated set of intellectual property rights to enable it function efficiently. A clarity on Intellectual property definition helps in gaining a deeper insight into the functioning of the laws governing it
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