Intellectual Property Rights

Overview

Intellectual Property Rights are legal rights that protect the creation of the inventor/ author and provide the inventor/author with monetary benefits for the same. Intellectual Properties are the creation of the mind that is protected by the intellectual property law. Intellectual Property is important to prevent unfair competition, enjoy benefits are the rightful owner, preventing infringement, etc. The first major step towards IPR protection came in 1995 when India joined the World Trade Organization (WTO) and became a signatory to the Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement. WIPO is the World Intellectual Property organization which is one of the specialized agencies of the United Nations with the main objective to promote and protection of intellectual property worldwide and to ensure administrative cooperation among the Intellectual Property Unions established by the treaties that WIPO administers As per World Intellectual Property Organization (WIPO) the following to be protected as intellectual property rights:
  • Trademarks
  • Patents
  • Industrial designs
  • Copyright

Intellectual Property In India

India is one of the signatories to TRIPS Agreement and is mandated to comply with the rules laid down by the TRIPS. Hence, various legislations were enacted to protect intellectual property rights:

Statutory Legislations are

Trademarks Act, 1999
Indian Patent Act, 1970
Designs Act, 2000
Copyrights Act, 1957
Geographical Indications of Goods (Registration & Protection)
Act, 1999
Semiconductor Integrated Circuits Layout-Designs
Act, 2000
Protection of Plant Varieties and Farmers Rights
Act, 2001

The Patents Act, 1970

A Patent is an exclusive right granted to the owner of an invention to make, use, manufacture, and market the invention, provided the invention satisfies conditions stipulated by the Law. This Act gives the Exclusive right of being the first inventor of a product or process granted by the government and excludes others from making, selling, using, or importing the patented product without his consent. This gives the inventor exclusive rights over his invention, provided the invention is
  • Novel
  • Should be a useful one, and
  • Must be non-obvious
A patent holder has the following rights:
  • Right to exploit the patent,
  • assign and license,
  • surrender the patent,
  • to sue any person in case of infringement
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