INTRODUCTION

  • What is Intellectual Property?


  • It means the legal rights resulted from intellectual activity in the industrial, scientific literary and artistic field.
  • It is a cluster of legally recognized rights associated with innovation and creativity.
  • The works of the mind as against physical products, land and other tangible resources.
  • The term describes the Ideas, Inventions, Technologies, Artwork, Music & Literature.
  • They are intangible when they are created but become valuable in tangible form as products.
INTELLECTUAL PROPERTY


  • INDUSTRIAL PROPERTY COPYRIGHT & RELATED RIGHTS


  • Patents for invention Literary
  • Design for artistic creations Dramatic
  • Trade Mark Artistic
  • Geographical indications Musical
  • Trade Secrets Cinematography
  • Integrated Circuit Rights relating to performers, broadcasters and sound recorders

  • PURPOSE OF INTELLECTUAL PROPERTY RIGHT LAW IPR Law


  • The basic fact is that the inability to protect something by the mere possession of an object underline the purpose of whole intellectual property law.
  • IPR law gives statutory expression to the moral and economic rights of creators for their creation.
  • IPR law promotes creativity, dissemination and application of its results.
  • IPR law encourages fair trading which would contribute to economic and social development.
IPR ISSUES


  • JUSTIFICATION FOR INTELLECTUALPROPERTY RIGHTS


  • It is a Constitutional Right of a person.
  • Gives long-term economic benefits by stimulating innovation.
  • Attracts Foreign Direct Investments.
  • Enhances countries credibility & recognition as a dependable supplier.
  • Involves a trade off and some form of reciprocal obligation on the part of the right holder.

  • WHY TO PROTECT THE INTELLECTUAL PROPERTY RIGHTS


  • More than half of the Gross Domestic Product of the major OECD countries relates to the production and the distribution of the knowledge.
  • In every enterprise whether it produces or delivers goods or services, the knowledge component is becoming the predominant element in differentiating it from its competitors.
  • IPR is a key factor in obtaining the transfer of the latest technologies as well as in attracting foreign direct investment.