Interllectual Property Rights
Intellectual Property (IP)
IP as a general term refers to the subject matter of the laws that give rise to proprietary interests in creations of the mind. The various tools of IPR that are used to protect innovations are Copyrights, Industrial Designs, Data Protection, Geographical Indications, Patent and Trademark.
Introduction to Intellectual Property Rights (IPRs)
In earlier times, the concept of property meant something tangible. Man used to be in possession of property and property became a source of wealth and status in society for him. As time went by, property created by the scope of one’s intellect became what is now known as Intellectual property. The problem with Intellectual property was that it was intangible in nature. The need arose for laws to protect such kind of Intellectual property. Therefore, laws originated to protect the various forms of Intellectual property like trademarks, copyrights, designs, patents and Geographical Indications.
Importance of IPR in current global scenario
It is a well-known fact that the role of Intellectual Property (IP) protection has expanded at an unprecedented pace during the last two decades. It is the key factor for economic growth and advancement in the high technology sector. They are good for business, benefit the public at large and act as catalysts for technical progress.
In current global scenario, innovation and creativity provide companies and nations a cutting edge over their counterparts. Continuous evolution of new products vis-à-vis new technology is required for economic development and growth of companies and nations. Today, possession of land, labor and capital are just not enough for a country to succeed. Creativity and innovation are the new drivers of the world economy. The policies adopted by a country shall determine the nations well being and further as to how it is developing the trapped intellectual capital. An effective intellectual property system is the foundation of
IP as a general term refers to the subject matter of the laws that give rise to proprietary interests in creations of the mind. The various tools of IPR that are used to protect innovations are Copyrights, Industrial Designs, Data Protection, Geographical Indications, Patent and Trademark.
Introduction to Intellectual Property Rights (IPRs)
In earlier times, the concept of property meant something tangible. Man used to be in possession of property and property became a source of wealth and status in society for him. As time went by, property created by the scope of one’s intellect became what is now known as Intellectual property. The problem with Intellectual property was that it was intangible in nature. The need arose for laws to protect such kind of Intellectual property. Therefore, laws originated to protect the various forms of Intellectual property like trademarks, copyrights, designs, patents and Geographical Indications.
Importance of IPR in current global scenario
It is a well-known fact that the role of Intellectual Property (IP) protection has expanded at an unprecedented pace during the last two decades. It is the key factor for economic growth and advancement in the high technology sector. They are good for business, benefit the public at large and act as catalysts for technical progress.
In current global scenario, innovation and creativity provide companies and nations a cutting edge over their counterparts. Continuous evolution of new products vis-à-vis new technology is required for economic development and growth of companies and nations. Today, possession of land, labor and capital are just not enough for a country to succeed. Creativity and innovation are the new drivers of the world economy. The policies adopted by a country shall determine the nations well being and further as to how it is developing the trapped intellectual capital. An effective intellectual property system is the foundation of