{"id":30667,"date":"2020-04-11T13:59:22","date_gmt":"2020-04-11T08:29:22","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=30667"},"modified":"2020-11-19T16:50:11","modified_gmt":"2020-11-19T11:20:11","slug":"all-about-intellectual-property-rights","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/all-about-intellectual-property-rights\/","title":{"rendered":"All You Need to Know About Intellectual Property Rights"},"content":{"rendered":"<p class=\"has-drop-cap\">A right in an ordinary sense means the standard of permitted action within a certain sphere, and on legal terms, it is the standard of permitted action by law. A man may have rights over material things, i.e., proprietary rights, and may have rights in respect of his own person. One may also have rights over the immaterial <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Property&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Property refers to the legal designation of ownership over valuable items or assets held by an individual or a business. This ownership grants the holder certain legal rights to use, consume,(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/property\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>property<\/a> like patent rights, copyrights, etc. these are called <strong>Intellectual Property Rights<\/strong>. In recent times we have seen its importance growing. The immaterial products of man&rsquo;s brain may be as valuable as his land or goods. This law, therefore, gives him a proprietary right, and the unauthorised use of it by another person would amount to a violation of his right or ownership. Here in this article, we shall have an in-depth <strong><em>understanding of the Intellectual Property Rights<\/em><\/strong> (IPR) and the various Intellectual Properties.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is the meaning of Intellectual Property Rights?<\/h2>\n\n\n\n<p>The creative genius of human beings creates intellectual property which, if properly exploited, can earn wealth. Since it is the creation of the mind, therefore, it is called <strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Intellectual_property\">Intellectual Property<\/a><\/strong>. As per article 2(vii) of the convention establishing the World Intellectual Property Organisation (WIPO), an Intellectual Property shall include the rights relating to:<\/p>\n\n\n\n<ul><li>literary, artistic and scientific works,<\/li><li>performances of artists,<\/li><li>Inventions in all fields,<\/li><li>Industrial designs,<\/li><li>Protection against unfair competition,<\/li><li>Different kinds of marks,<\/li><li>And all other rights resulting from intellectual activities.<\/li><\/ul>\n\n\n\n<p>The\nrights of intellectual property are created by a statue. The invention may\npertain to a new product or an improvement of an existing product. The\nacquisition of the monopoly of the intellectual property, the conditions for\nacquisition, its duration, the licensing of its monopoly rights, or their\nassignment to others is strictly governed by these statues. These rights can\nalso be licensed for use by third parties or assigned to any person.\nIntellectual property rights are enforced by an action for infringement of\nthose rights before the court of law.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Objective of Intellectual Property Rights<\/h2>\n\n\n\n<p>Every\nhuman endeavour that promotes economic, scientific, social, and cultural\ndevelopment must be encouraged, and the creator must be suitably rewarded by\nproviding legal protection to his intellectual creation. Countries have laws\nfor the protection of intellectual property, firstly, to give statutory expression\nto the moral and economic rights of creators for their creations and secondly\nto promote creativity and the dissemination, as a deliberate act of government\npolicy, and to further facilitate fair trading that would add to the social and\neconomic development.<\/p>\n\n\n\n<p>The\nintellectual property laws intend to safeguard creators and regulate the\ncreation, use, and exploitation of creative work. It seeks to prevent third\nparties from taking unfair advantage of the creation of someone&rsquo;s mind. The IPR\nprovides recognition to the efforts of the creators, and its main objective is\nto protect them from infringement, thereby encouraging them to create and\ninnovate more and make economic gains out of it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Meaning of TRIPS with respect to IPRs<\/h2>\n\n\n\n<p>The\nIntellectual Property Rights (IPRs) are private rights, but there is a need for\na multilateral framework of principles, rules, and disciplines dealing with the\nIPRs. The Trade-related aspects of Intellectual Property Rights (TRIPS)\nagreement is a multilateral trade agreement. It is an integral part of the WTO\nagreement, binding all the member countries under the WTO agreement. The\nagreement on TRIPS aims at protecting Intellectual Property Rights and to\nreward creativity and innovations. The TRIPS is a minimum standard agreement\nencouraging countries to provide high-level protection for intellectual\nproperty.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Nature and Scope of Intellectual Property Rights<\/h2>\n\n\n\n<p>Intellectual property has its own different features. These features help in the identification of intellectual property from other kinds of properties. These features of the IP determine the nature of the intellectual property. <strong><em>These are enumerated below<\/em><\/strong>:<\/p>\n\n\n\n<ul><li><strong>Territorial<\/strong>: An Intellectual Property issued must be resolved by the national law due to the fact that intellectual property rights have one feature that other national rights don&rsquo;t have. An Intellectual Property is commonly used in different countries, unlike immovable properties; therefore, the IP issues are resolved according to the national laws of the countries involved. <\/li><li><strong>The exclusive right to the owner:<\/strong> This feature of the IPR means that people who are not the owners of an IP are not allowed to use the right. The creator of the original work or the author enjoys the rights, and no one can use the IP without the explicit permission of the owner.<\/li><li><strong>Assignable Right<\/strong>: The IPRs can be assigned to someone else who is not the owner of the work as they are rights. Intellectual property can be sold, bought, licensed, hired, or attached.<\/li><li><strong>Subject to Public policy<\/strong>: IP rights are required to comply with public policy. The owners of IP in the first place require adequate remuneration, and secondly, the consumers look to consume works free of any inconvenience.<\/li><li><strong>Independence<\/strong>: Various Intellectual Properties exists in the same kind of object. The majority of the IPRs are most probably embodied in objects.<\/li><li><strong>Divisible<\/strong>: Many people can have legally protected interests raised from a single original creation without endangering the rights and interests of other right holders on a similar item. Intellectual property, due to its nature of indivisibility, is an inexhaustible resource. This feature of IP is derived from the IP&rsquo;s territorial nature.<\/li><\/ul>\n\n\n\n<p>The\nIntellectual property rights include patent, copyright, trademarks, geographic\nindications, industrial design, database protection laws, etc. we shall cover\nthese in the next segment.<\/p>\n\n\n\n<div class=\"read\"><p><b>Also, Read:<\/b> <mark><a href=\"https:\/\/enterslice.com\/learning\/different-between-patent-copyright-and-trademark\/\" target=\"_blank\" rel=\"noopener noreferrer\">Different Between Patent, Copyright and Trademark<\/a><\/mark>.<\/p><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Forms of Intellectual Property Rights<\/h2>\n\n\n\n<p>There\nare various forms of IPRs. The most common of them are specified below.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Copyright and related rights<\/h3>\n\n\n\n<p>The subject\nmatter of copyright is the literary, artistic, musical, dramatic,\ncinematographic, sound recordings, etc. it protects the expression of an idea.\nThe copyright is to the original creation, and mere idea without tangible\nexpression cannot be granted legal protection. Copyright is an intangible and\nan incorporeal right is given to the author or the creator of certain literary\nor artistic production wherein he is invested for a specified term with the\nsole right to multiply copies of his original creation and to publish and sell\nthem.<\/p>\n\n\n\n<p>Copyright protection is provided for all original artistic, dramatic, musical, cinematographic, or such works. Original here means that the work in question must not have been copied from any other source. Its protection begins as soon as the work is created, and its registration depends upon the owner as it&rsquo;s optional; however, it&rsquo;s advised to register your work in order to seek better protection. It shall be useful as a proof in the <strong><em><a href=\"https:\/\/enterslice.com\/copyright-registration\">copyright registration<\/a><\/em><\/strong> of the registrar of copyrights.<\/p>\n\n\n\n<p>The term of\nthe copyright depends upon the kind of the work copyrighted. In case of a\nliterary, artistic, dramatic, or musical original work, the term of the\ncopyright is the lifetime of the artist or the author and 60 years from the\ndeath of the author.<\/p>\n\n\n\n<p>Copyright in\nany work can be either assigned or licensed, whether present work or future\nwork, in writing by the owner of the copyright or by his duly authorised agent.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Patents<\/h3>\n\n\n\n<p>A patent is\ngranted for inventions that have industrial and commercial value. Any person\nwhose invention has novelty involving inventive steps that is non-obvious and\nis of industrial application can be granted a monopoly right for a period of\ntime to commercially exploit his invention and make gains out of his invention.<\/p>\n\n\n\n<p>The Patent Act\ndefines the invention as a new product or process involving inventive steps. It\nfurther states that an inventive step means a feature that makes the invention non-obvious\nto a person skilled in the art. The attributes essential in a product or\nprocess to qualify as patents are novelty, non-obviousness, and utility of an\ninvention.<\/p>\n\n\n\n<p>Though the\nidea behind a patent is to protect the creator&rsquo;s creation, there are certain\nthings that cannot be patented according to Indian law. These are any methods\nof horticulture or agriculture, any process that comes under medicine,\nsurgical, curative, or treatment of a human, animal or plants, any discovery\npertaining to atomic energy, the discovery of unique machine or process. There\nare numerous benefits to getting a patent. The patent helps in safeguarding\nyour invention from theft, and it provides a freedom of exclusivity. The patent\nhas higher monetary value and huge profit margins.<\/p>\n\n\n\n<p>Currently, in\nIndia, a uniform term of 20 years has been provided. The period of 20 years\nshall be calculated from the date of filing of application of patent. In order\nto keep the patent alive and effective, a periodic renewal fee is also required\nto be deposited. In a failure of such payment, the patent shall cease to have\nan effect and won&rsquo;t be eligible for any protection.<\/p>\n\n\n\n<p>A patent is a <strong><a href=\"https:\/\/enterslice.com\/learning\/transfer-ipr-intellectual-property-rights\/\"><em>transferable property<\/em><\/a><\/strong> which can be transferred by the owner of the patent either partially or fully to another person. He may transfer it either for consideration or without consideration. A transfer can take place through assignment, licence, or it can be transferred by operation of law.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Trademarks<\/h3>\n\n\n\n<p>A Trademark is\na brand name or a logo that helps in the identification of a product or\nservice. It can be defined as a unique identity that helps in differentiating\nthe product of one brand from the other. The unique identity is called the\nTrademark, which can be in the form of a logo, slogan, word, graphics, etc. There\nare two types of trademark rights. These are conferred by registration under\nthe statue or acquired in relation to a trademark or trade name. The exclusive\nrights granted by the registration allows the owner of the registered mark to\nprevent others from not only using the mark as registered but also stops people\nfrom using a deceptively similar mark to the registered mark. A trademark\nserves as a valuable asset, creates a unique identity for one&rsquo;s brand or\ncompany.<\/p>\n\n\n\n<p>The registered\nproprietor of a trademark gets the exclusive right to use the Trademark in\nrelation to the goods and services of which the Trademark has been registered\nand the right to obtain relief in respect of an infringement of the Trademark.<\/p>\n\n\n\n<p>The registered\nproprietor is also empowered to assign the Trademark and to give effectual\nreceipts for any consideration for such assignment. The assignment must be in\nwriting, and it must mention the conditions and limitations to which the\nassignment is subject to.<\/p>\n\n\n\n<p>The\nregistration of the Trademark is valid for a period of 10 years and may be\nrenewed from time to time. The registrar has the right to remove the Trademark\nfrom the register in case it is not renewed within the prescribed period.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Geographical Indications <\/h3>\n\n\n\n<p>Geographical\nIndication in relation to goods means an indication which identifies goods as\nagricultural goods, natural goods, or manufactured goods as originating or\nmanufactured in the territory of the country, region or a locality in that\nterritory where a quality, reputation, or any other characteristics of those\ngoods is attributable to its geographical origin. In case the goods mentioned\nare manufactured goods, then either the activity of production, processing, or\npreparation of the goods shall take place in such territory, locality, or\nregion depending upon the case. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Industrial Design<\/h3>\n\n\n\n<p>An Industrial\nDesign means the features of shape, pattern, ornament or the composition of\nlines or colours applied to any article, whether in two dimensional or three\ndimensional through any industrial process that in the finished article appeal\nto and are judged by the eye. It does not include any trademark or any\nprinciple of construction. <\/p>\n\n\n\n<p>The registered owner of\nthe industrial design has the right to prevent others from selling, making, or\nimporting articles or embodying a design that is a copy of the protected design\nwhen such acts are used for commercial purposes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Conclusion<\/h3>\n\n\n\n<br><div class=\"shadow1\">Scientific and technological advancement has\nconverted the world into a global village. It has played a great role in the\ngrowth of Intellectual Property Rights. The pace of scientific and\ntechnological development is such that newer and newer inventions are bound to\nhappen. In the future, such developments shall induce newer techniques and will\ncreate a new set of information that will benefit the commerce and industry.\nThis will help the Intellectual Property Rights to grow further.<\/div>\n\n\n\n<div class=\"read\"><p><b>See Our Recommendation:<\/b> <mark><a href=\"https:\/\/enterslice.com\/learning\/ip-due-diligence-everything-you-need-to-know\/\" target=\"_blank\" rel=\"noopener noreferrer\">IP Due Diligence &ndash; Everything You Need to Know<\/a><\/mark>.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A right in an ordinary sense means the standard of permitted action within a certain sphere, and on legal terms, it is the standard of permitted action by law. A man may have rights over material things, i.e., proprietary rights, and may have rights in respect of his own person. One may also have rights [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":30671,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2432,2438],"tags":[2259],"acf":{"service_id":"87"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>All You Need to Know about Intellectual Property Rights - Enterslice<\/title>\n<meta name=\"description\" content=\"Here in this article, we shall have an in-depth understanding of the Intellectual Property Rights (IPR) and the various Intellectual Properties.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/all-about-intellectual-property-rights\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"All You Need to Know about Intellectual Property Rights - Enterslice\" \/>\n<meta property=\"og:description\" content=\"Here in this article, we shall have an in-depth understanding of the Intellectual Property Rights (IPR) and the various Intellectual Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/all-about-intellectual-property-rights\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-11T08:29:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-19T11:20:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/04\/All-you-need-to-know-about-Intellectual-Property-Rights.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"352\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","authorName":"Ashish M. Shaji","authorImageUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/10\/04.jpg","authorDescription":"Ashish M. Shaji has done his graduation in law (BA. LLB) from CCS University. He has keen interests in doing extensive research and writing on legal subjects especially on corporate law. He is a creative thinker and has a great interest in exploring legal subjects.","postViews":617,"readingTime":7,"nextPost":{"id":30678,"slug":"sebi-guidelines-on-business-responsibility-reporting"},"prevPost":{"id":30654,"slug":"foreign-direct-investment-in-an-llp"},"featuredMediaUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/04\/All-you-need-to-know-about-Intellectual-Property-Rights.jpg","postTerms":"IP Rights","_links":{"self":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/30667"}],"collection":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/comments?post=30667"}],"version-history":[{"count":0,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/30667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media\/30671"}],"wp:attachment":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media?parent=30667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/categories?post=30667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/tags?post=30667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}