Friday, 6 May 2016

Types of intellectual property rights in India and their significance

Creativity is protected through intellectual property rights and its creator can reap the benefit of their creations. The patent, copyright, trademark, are some of the major intellectual property rights in India. Patent right is given to the creator of any new product or process that can be used for industrial use and has features of novelty and non obviousness. The product or process must be advance compare to the existing knowledge. The usefulness of the product or invention can benefit anyone but the monetary benefit of the inversion will go to the creator. This act ensures that incentive remains there for the people to do creative things in various spheres of the life.

Trade mark can be a name, label, brand or logo, heading, sign, letter or image or any things, which defines a company or organization. It can also be combination of colors, pattern or designs shapes or goods etc. The trade mark distinguishes a company from its competitors and business rivals. Any trade mark can become famous or icon in the market. The other companies or anyone establishing a business cannot use the trade mark, which is already in the market. This trade mark intellectual property right prohibits others from using the existing trade mark.

Any design Real Estate Lawyers in Delhi also comes under Intellectual property rights. It refers to any features of shape, composition of lines or colors. Motifs, designed on any article or product. This design can be in two dimensional forms and three dimensional forms. This IP ensures that the uniqueness of any product is kept the not allowing others to copy the same design.

Geographical indicators in intellectual property rights refers to  any good, natural or manmade or agriculture produced in any locality or geography and some features  that are given to such products associated with the region. The other products cannot be given the same name. For example, the sari from Banaras, are given the banarasi sari name, this name cannot be given to any sari made in other regions,  

Plant variety production also comes in the intellectual property right list. This right protects the farmer to Intellectual property firms in Delhi grow new varieties of plants and seeds.  This right gives encouragement to the development of new plants and increases the production.

Semiconductor integrated circuit design layout is also given protection under intellectual property right in India. This right gives protection in field of semiconductors.

All these rights encourage the growth of technology and industry. The innovators are creating new things for monetary gains and taking or creating new markets. Without these rights, the basic encouragement will be lost since everyone can share the financial gain from hard work of someone else. It must be noted that the benefit of any innovation is shared by the masses, but the money from sales goes to the creator only .A strong intellectual property regime is essential to attract foreign companies with new technology and management skills.

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