INTELLECTUAL PROPERTY RIGHT By Trapti Pareek

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The most well-known types are copyrights, patents, trademarks, and trade secrets. Early precursors to some types of intellectual property existed in societies such as Ancient Rome, but the modern concept of intellectual property developed in England in the 17th and 18th centuries. The term “intellectual property” began to be used in the 19th century, though it was not until the late 20th century that intellectual property became commonplace in the majority of the world’s legal systems.
The main purpose of intellectual property law is to encourage the creation of a wide variety of intellectual goods. To achieve this, the law gives people and businesses property rights to the information and intellectual goods they create, usually for a limited period of time. This gives economic incentive for their creation, because it allows people to profit from the information and intellectual goods they create. These economic incentives are expected
to stimulate innovation and contribute to the technological progress of countries, which depends on the extent of protection granted to innovators. The intangible nature of intellectual property presents difficulties when compared with traditional property like land or goods. Unlike traditional property, intellectual property is “indivisible”, since an unlimited number of people can “consume” an intellectual good without it being depleted. Additionally, investments in intellectual goods suffer from problems of appropriation: a landowner can surround their land with a robust fence and hire armed guards to protect it, but a producer of information or literature can usually do very little to stop their first buyer from replicating it and selling it at a lower price. Balancing rights so that they are strong enough to encourage the creation of intellectual goods but not so strong that they prevent the goods’ wide use is the primary focus of modern intellectual property law. Intellectual property rights include patents, copyright, industrial design
rights, trademarks, plant variety rights, trade dress, geographical indications, and in some jurisdictions trade secrets. There are also more specialized or derived varieties of sui generis exclusive rights, such as circuit design rights (called mask work rights in the US), supplementary protection certificates for pharmaceutical products (after expiry of a
patent protecting them), and database rights (in European law). The term “industrial property” is sometimes used to refer to a large subset of intellectual property rightsincluding patents, trademarks, industrial designs, utility models, service marks, trade names, and geographical indications.
I. Patents
A patent is a form of right granted by the government to an inventor or their successor-in-title, giving the owner the right to exclude others from making, using, selling, offering to sell, and importing an invention for a limited period of time, in exchange for the public disclosure of the invention. An invention is a solution to a specific technological problem, which may be a product or a process and generally has to fulfill three main requirements: it has to be new, not obvious and there needs to be an industrial applicability. To enrich the body of knowledge and stimulate
innovation, it is an obligation for patent owners to disclose valuable information about their inventions to the public.
II. Copyright
A copyright gives the creator of an original work exclusive rights to it, usually for a limited time. Copyright may apply to a wide range of creative, intellectual, or artistic forms, or “works”. Copyright does not cover ideas and information
themselves, only the form or manner in which they are expressed.
III. Industrial design rights
An industrial design right (sometimes called “design right” or design patent) protects the visual design of objects that are not purely utilitarian. An industrial design consists of the creation of a shape, configuration or composition of pattern or color, or combination of pattern and color in three-dimensional form containing aesthetic value. An industrial design can be a two- or three-dimensional pattern used to produce a product, industrial commodity or handicraft. Generally speaking, it is what makes a product look appealing, and as such, it increases the commercial
value of goods.
IV. Plant varieties
Plant breeders’ rights or plant variety rights are the rights to commercially use a new variety of a plant. The variety must amongst others be novel and distinct and for registration the evaluation of propagating material of the variety is considered.
V. Trademarks
A trademark is a recognizable sign, design or expression which distinguishes products or services of a particular trader from similar products or services of other traders.
VII. Trade secrets
A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over
competitors and customers. There is no formal government protection granted; each business must take measures to guard its own trade secrets (e.g., Formula of its soft drinks is a trade secret for Coca-Cola.)

Leave a Reply

Articles

Bio Lyfe Keto Gummies (Updated Reviews) Reviews and Ingredients

Bio Lyfe Keto Gummies advance weight decline basically by stretching out inside power level through the course of thermogenesis. Thermogenesis is in addition revived by various upgrades like DHEA, caffeine and ephedrine, yet these blends reliably cause dazzling not very much organized results, for instance, hypertension. Making thermogenesis with close to no awful certain outcomes is […]

Read More
Articles

Bio Lyfe Keto Gummies Reviews (Pros and Cons) Is It Scam Or Trusted?

Bio Lyfe Keto Gummies are a reasonable extraordinary and hearty course of activity. They incorporate present day and standard adornments to address or fix logical issues. You need to kill the cannabinoids from the plant with exorbitant mind fulness. It very well might bejoined with first rate trimmings to make it extra enormous and taste better.The […]

Read More
Articles

What they told you in ‘Toy Story 2’ is a lie: This is how ‘Lightyear’ has changed this iconic moment in the saga

The true story behind Toy Story ‘s iconic space ranger has hit theaters. Lightyear , directed by Angus MacLane , tells the origins of the character that gave rise to the action figure given to Andy in the first installment of the saga. Buzz isn’t the only Toy Story character to appear in the film, […]

Read More