We’ve all heard of companies, institutes and corporations having an exclusive hold over certain markets as being the sole players of their products or commodities. Have you ever wondered how these companies, institutes and corporations get these exclusive rights or such a strong market hold? The answer lies in Intellectual Property Rights, often abbreviated as IPR.
Understanding intellectual property and the rights associated with intellectual property is highly essential in today’s knowledge-driven economy. Let’s dive into this fascinating world of intellectual property rights and gain some insights pertaining to the meaning and types of IPR. Intellectual property (IP) is basically creations of the human mind – be it an invention or anything artistic. Just like we have our tangible properties such as a land, house, a vehicle, etc, we similarly have intangible properties which come under the umbrella of intellectual property such as artistic works, inventions, designs and many more.
Intellectual Property Rights (IPR) are the legal protection exercised on the intellectual property created by people. When we create something original from a combination of our intellect and creativity, we have a right to get them protected under intellectual property laws, thereby gaining exclusive rights to use, manufacture, sell or license our creations for a specified period of time.
Protecting our creations through intellectual property rights provides us with several advantages. For starters these rights ensure that the inventors/creators can easily benefit from the work they have created without other potential competitors taking any undue benefits by copying their inventions. Having the trust that their creations are duly protected, people, institutes or companies are likely to invest in research and development more actively. These rights are also a tool to attract funding and investments thereby aiding in scalability of business. Apart from the creators, these IP rights allow the consumers to easily differentiate between genuine products and services from the fake ones, allowing the companies to maintain a trustworthiness in its consumer base.
Types of Intellectual Property Rights (IPR)
There are many different kinds of intellectual property rights, each one providing protection to different kinds of creations and/or inventions. We have patents, copyrights, trademarks, trade secrets, geographical indications, plant variety and industrial designs.
Patents
A person, institute or a company can get a patent to protect new inventions, processes, machines, devices or any inventions leading to substantial improvements to the existing products. In India, a granted patent gives protection to the creation/invention and provides the creator/inventor with exclusive rights typically for 20 years from the date of filing of the application. Any invention that is novel (is new or not known to the public before), is non-obvious (meaning that it is not something that a person skilled in the art can easily think of) and has commercial usability, can be eligible for a patent.
Trademarks
Trademarks provide protection for company logos, brand names, slogans and symbols that are the identifying and distinguishing things of goods and services. Trademark build a sense of trust in the consumers. It prevents others from using confusingly similar marks that might mislead consumers about the source of goods or services. Trademarks can last forever, as long as the applicant keeps using them and renewing the registration for the same as per the prescribed timelines. For an intellectual property to be eligible for being registered as a trademark, it must be distinctive, not confusingly similar to existing trademarks and most of all, be actually used in business.
Copyrights
Copyrights provide protection for the original creative works that are expressed in tangible forms. Any kind of written content, books, articles, music, songs, poems, sound recordings, codes for software, computer programs, paintings, sculptures, architectural designs and other artistic creations are protected under copyright. If the work is original, creative and fixed in a tangible form (written, recorded, etc.), it can be protected through getting a copyright. In India, copyright lasts up to the lifetime of the author plus the next 60 years after the demise of the author. A copyrighted work allows the author to control how his/her work is reproduced, distributed, displayed, performed or adapted.
Trade Secrets
Trade secrets protect the confidential information relating to the business of a company. Protecting information under trade secret provides a company with a competitive advantage over the competitors. Information such as the recipe of foods and beverages; compositions and formulations of cosmetics; search algorithm details of an online platform; manufacturing processes of products and/or devices; and many more of such confidential information can be protected under trade secrets. Having trade secret allows the owner of the same to take legal actions against anyone who improperly acquires, uses or discloses their trade secrets.
Industrial Designs
Industrial design registrations protect the visual appearance of products – their shape, configuration, pattern or ornament. Unique designs of things, patterns on fabrics, structural designs of devices, new shape of a thing of everyday use, etc., can all be registered under the industrial designs.
Geographical Indications
Geographical Indications protect products that come from specific geographic locations and have qualities or reputation linked to that place. Examples include Phulkari dupatta (from Punjab, India), Champagne (from the Champagne region of France), Darjeeling tea (from Darjeeling, India), Scotch whisky (from Scotland), etc.
Plant Varieties
These protect new varieties of plants that are distinct, uniform and stable. This is important for agricultural innovation and crop development. Plant varieties are protected under the National Biodiversity Act in India.
Intellectual property rights are essential tools for protecting creativity and innovation in our modern economy. Whether you are an inventor with a new product idea, an artist creating original works or a business owner building a brand, understanding these rights can help you protect your valuable creations. The world of intellectual property continues to evolve with new technologies and business models. Staying informed about these changes and understanding your rights is crucial for anyone involved in creating, using, or commercializing intellectual property.
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