Different Types of Intellectual Property Rights

The intellectual property serves as the cornerstone of development. It might be a new way to make anything, a layout, a book, an art, a feature in a magazine, etc. Although there are many different types of intellectual property, the word "property" indicates that it is held by someone, either a person or a company. For instance, a movie producer's creation of a movie is their intellectual property. Or, if a pharmaceutical business develops a novel new product, it is regarded as intellectual property.

Property is a legal concept that can be legally protected. It resembles the familiar property rights in many ways. You can file a police report if, for instance, your automobile is stolen. The police will then be responsible for finding your property and catching the thief. With regard to intellectual property, the same is true. You have legal recourse if someone copies your film and you want to get compensated.



What kinds of intellectual property in India are there in India? Let's examine a few of them.

Patents

One of the significant categories of IPR is the patent. A government authorization or license that grants a right or title for a specific time period, particularly the exclusive right to prevent others from creating, utilizing, or selling an invention, is what is meant by this definition. When people or organizations create new products or processes, they go to the patent office, describe the invention in detail, and pay a fee to have their "property" protected. This is OK since these people spend many years and a lot of money creating something, and they deserve to be paid for it. Patents are a crucial component of an innovation and growth-oriented culture since they serve as a motivator for the creation of new goods and procedures. It is only given for a limited time.

Trademarks

The trademark occupies a significant place among the many forms of intellectual property rights as a distinctive identifier of a business or a product. It is an assurance of a particular level and quality and speaks to the reputation of a brand or business with consumers. Trademarks require intellectual property protection because businesses spend a lot of effort and money creating their brands. A last thing they need is a swindler utilizing their trademarks to sell goods or services while misleading customers and damaging their brand and finances. Names, logos, and designs used to packaging or the items themselves are examples of trademarks.

Copyright

The words "All Rights Reserved" could appear when you view a movie, buy a book, or a DVD. This is only a method of preserving the information included in the movie, book, or DVD by stating that the publisher is the exclusive owner of the copyright and that nobody else is permitted to reproduce or otherwise use the content without their permission. Any creative creation, including movies, books, music, computer programs, and paintings, is given copyright protection. Copyright has two facets: a moral aspect and an economic side. Authors have the right to be recognized as the creators of a certain work and to protest if it is shown in a distorted or altered form thanks to moral rights. The author has more control over how their work is used and can profit financially thanks to the economic right.


Industrial Design

A specific product or article's production method is called industrial design. For instance, a furniture manufacturer may develop a novel method of creating a sofa-cum-bed and wish to prevent someone else from copying it. To be protected by industrial design legislation, an industrial design should be registered in many nations.

Geographical Indication

In order to stop goods from other areas from exploiting the geographic linkage that these commodities have, certain producers of such goods might seek intellectual property protection. For example, Basmati rice has been recognized as an item with a Geographical Indication with the Department of Commerce in India. Only a particular kind of rice, produced in 7 states in the Himalayan foothills, is awarded this label.

IPRs provide a wide range of possibilities

Companies have a variety of choices for safeguarding their ideas in whatever format. These IPRs assure idea protection while also assisting in the protection and adding economic value.

 

 

Location: India

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