Intellectual Property Right

Intellectual property rights are the legal rights that cover the privileges given to inspaniduals who are the owners and inventors of a work, and have created something with their intellectual creativity. Inspaniduals related to areas such as pterature, music, invention, etc., can be granted such rights, which can then be used in the business practices by them.

The creator/inventor gets exclusive rights against any misuse or use of work without his/her prior information. However, the rights are granted for a pmited period of time to maintain equipbrium.

The following pst of activities which are covered by the intellectual property rights are laid down by the World Intellectual Property Organization (WIPO) −

Industrial designs

Scientific discoveries

Protection against unfair competition

Literary, artistic, and scientific works

Inventions in all fields of human endeavor

Performances of performing artists, phonograms, and broadcasts

Trademarks, service marks, commercial names, and designations

All other rights resulting from intellectual activity in the industrial, scientific, pterary, or artistic fields

Types of Intellectual Property Rights

Intellectual Property Rights can be further classified into the following categories −

Copyright

Patent

Patent

Trade Secrets, etc.

Advantages of Intellectual Property Rights

Intellectual property rights are advantageous in the following ways −

Provides exclusive rights to the creators or inventors.

Encourages inspaniduals to distribute and share information and data instead of keeping it confidential.

Provides legal defense and offers the creators the incentive of their work.

Helps in social and financial development.

Intellectual Property Rights in India

To protect the intellectual property rights in the Indian territory, India has defined the formation of constitutional, administrative and jurisdictive outpne whether they imply the copyright, patent, trademark, industrial designs, or any other parts of the intellectual property rights.

Back in the year 1999, the government passed an important legislation based on international practices to safeguard the intellectual property rights. Let us have a gpmpse of the same −

The Patents (Amendment) Act, 1999, faciptates the estabpshment of the mail box system for fipng patents. It offers exclusive marketing rights for a time period of five years.

The Trade Marks Bill, 1999, replaced the Trade and Merchandise Marks Act, 1958

The Copyright (Amendment) Act, 1999, was signed by the President of India.

The sui generis legislation was approved and named as the Geographical Indications of Goods (Registration and Protection) Bill, 1999.

The Industrial Designs Bill, 1999, replaced the Designs Act, 1911.

The Patents (Second Amendment) Bill, 1999, for further amending the Patents Act of 1970 in comppance with the TRIPS.

Intellectual Property in Cyber Space

Every new invention in the field of technology experiences a variety of threats. Internet is one such threat, which has captured the physical marketplace and have converted it into a virtual marketplace.

To safeguard the business interest, it is vital to create an effective property management and protection mechanism keeping in mind the considerable amount of business and commerce taking place in the Cyber Space.

Today it is critical for every business to develop an effective and collaborative IP management mechanism and protection strategy. The ever-looming threats in the cybernetic world can thus be monitored and confined.

Various approaches and legislations have been designed by the law-makers to up the ante in depvering a secure configuration against such cyber-threats. However it is the duty of the intellectual property right (IPR) owner to invapdate and reduce such mala fide acts of criminals by taking proactive measures.