Intellectual Property Rights
Date: 16 April, 2020
By: Pradeep Yadav
By: Pradeep Yadav
What are Intellectual Property Rights?
Intellectual property means the things which emanate from the exercise of the human brain. Intellectual property has no physical appearance; they exist only in the eyes of law. They are intangible and incorporeal (property in the immaterial form).
Intellectual property rights are given to the people who use their knowledge to create something with their brain like a new invention, scientific discoveries and literary works.
Intellectual property rights are given to the people who use their knowledge to create something with their brain like a new invention, scientific discoveries and literary works.
What are the types of Intellectual Property Rights?
There are 7 types of Intellectual property which are given on the TRIPS (Trade-Related Intellectual Property Rights) Agreement, 1994:
1. Copyright: It is a bundle of rights. It is a type of intellectual property which consists of films, music, literary works (such as novels, poems and plays) and artistic works (such as Paintings, drawings, Photographs). These days Software is also copyrightable. The Copyright act protects the original works of the authors from any type of unauthorized use. This act protects the expressions and not ideas or thoughts. E.g. “Smack that” song by Akon is the Copyright of Akon.
Today there is a need of reform under the Copyright regime of the world.
2. Patent: It is a right which is given for an invention. To be patentable the invention must fulfil certain conditions i.e. it must be new, involve an inventive step, and be industrially applicable. Patents are given for 20 years to encourage innovation, which assures that the quality of human life is continuously enhanced. E.g. Microprocessor is a patent by Intel.
3. Trademarks: A trademark is a distinctive sign which identifies certain goods or service which are provided by a specific person or enterprise. A trademark gives the owner an exclusive right to use the mark. The registration of a trademark also stops unfair competitors to use similar distinctive signs. The concept of trademark promotes fair market conditions which facilitate international trade. E.g. “Just do it” by Nike is a trademark of Nike Company.
"Just do it" by Nike is a trademark of Nike Brand.
4. Geographical Indication: GI is a sign used on goods that have a specific geographical origin. They possess qualities, reputation or characteristics that can be attached to the place of origin. The duration for GI is for 10 years but it may be renewed from time to time. Most of the time they include the name of the place of origin too like Champagne Wine, Scotch whisky, and Darjeeling Tea etc.
5. Industrial Design: This is related to the shape of a product. Any design of a product which is created for an industry can be used as intellectual property. They can either be 2 dimensional or 3 dimensional. It is applied to a wide variety of products like watches, jewellery, vehicles etc. An industrial design must appeal to the eye to be protected. These designs make an article attractive which adds to its commercial value. These designs once registered to protect the creator from the copying of the design by any third party. E.g. the design of a Lunch Box by Milton comes under Industrial Design which cannot be copied.
6. Semi-Conductor and Integrated Circuits: The semiconductors are protected for 10 years. These Semi-Conductors require a lot of technology and human intellect to be made. After the registration of these products, the creator can earn royalty from his product or even use the product for his specific industrial growth. E.g. Samsung and Intel are the companies with patents on Semi-Conductors.
7. Protection of Undisclosed Information (Trade Secrets): Trade secrets are a newer form of Intellectual properties. All the Intellectual property requires to be disclosed at the time of the registration but Trade secrets are not needed to be disclosed. The violation of Trade secrets can invite tort liability and sometimes criminal sanctions too. These are the business secrets that cannot be disclosed. E.g. The ingredients of Coca Cola drink is a trade secret.
Composition of the ingredients of Coca Cola is a trade secret.
Abuse of Intellectual Property Rights
The Intellectual Property rights are like giving a monopoly to a company or an individual over a specific discovery, invention or literary work. Due to this, there are various safeguards which are taken to minimize the misuse of these rights and curb the monopoly.
Various countries have made competition laws to increase competition and minimize the monopoly of various industries. The Sherman Act (1890) of the United States of America and Canada Competition Law (1889) is one of such acts.
Intellectual Property rights are mostly given for a specific period. After the end of that fixed tenure, the market forces can use that product and increase the competition in the market.
Various countries have made competition laws to increase competition and minimize the monopoly of various industries. The Sherman Act (1890) of the United States of America and Canada Competition Law (1889) is one of such acts.
Intellectual Property rights are mostly given for a specific period. After the end of that fixed tenure, the market forces can use that product and increase the competition in the market.
