Significance of intellectual property right and their types

Any creative efforts of a human being which can be commercially exploited come under the umbrella of intellectual property rights. The right is given to the creator to enjoy the fruits of his or her creation. This is important, because it ensures that efforts can be rewarded by rich financial gains. This also acts as motivator for more efforts and creativity. Without intellectual property rights, the motivation to create something will be gone forever. However, these rights can be given for limited duration and also have geographical limit.

The right can be given to an individual or to a company in any field. This is basic idea which enables a company to find some innovative approach to product development, marketing or new technology for making same products efficiently The intellectual property rights gives right to the owner that he or she can exclude others from their creations. But this does not mean that the benefits of the creations will not reach the common man.

In fact the whole idea of innovation or new technology is to make the life of common man more easy and comfortable. And in field of literature, the idea may be to enrich the life of an average person with fresh ideas and joy of reading. The aim of every art product or idea is to raise the mental and emotional content of the masses. But the financial gains which are coming from these new creations will go to the creator only. The intellectual property rights ensure this by way of government law.

 

There are at least three types of intellectual property right. The patent right protects the inventor and gives the inventor protection from others using or stealing the invention for at least 20 years from the filling of papers.Copyright protects the artists or literary figures from others by giving them protection from use of their works by others. They also get the automatic right to reproduce the work. Trademarks are given to business for distinguishing their services and products from others. Trademarks are closely Real Estate Lawyers in Delhi linked with brands of the companies.  This means that no one can use the name General   electric for their company.

Besides these basic intellectual property rights, there are other intellectual rights that give protection Intellectual property firms in Delhi to design, database and trade secrets. The design intellectual property right protects only the outer form and aesthetic style of any object created by the creator. It does not give protection to internal design or functionality of the design.  Database right protects the stealing of major part of the data. The protection extends over the information but not on form of expression of information. Trade secret is any formula, design, process or practice which gives a company advantages over others. For example, the trade secret of coca cola Company, their formula, is the basic ingredient, which gives them advantage over many other such companies. The company protects it fanatically