Intellectual property rights are the rights conferred on an individual by an intellectual creation. They usually grant the creator temporary, exclusive rights to use their creation.
Rights to intellectual property are typically separated into two major categories :
(i) Copyright and related rightsÂ
The rights of writers of creative and literary works (books and other writings, musical compositions, paintings, sculptures, computer programs, and films) are protected by so-called copyright for at least 50 years after the death of the author.
Copyright and related rights (sometimes referred to as “neighboring rights”) protect the rights of performers (actors, singers, musicians, etc.), producers of phonograms (sound recordings ), and broadcasting organizations. The primary social objective of copyright and related rights protection is to encourage and reward creation.
(ii) Industrial property
Industrial property can be said to encompass two broad areas:
- It firstly concerns the protection of distinctive signs, in particular trademarks (which distinguish the products or services of one company from those of other companies) and geographical indications (which serve to designate a product as coming from a particular location, in cases where a specific characteristic of the product can be attributed essentially to this geographical origin).
The protection of these distinctive signs aims to promote and ensure fair competition and to protect customers by empowering them to choose wisely among various goods and services. If the sign in question retains its distinctive character, the duration of protection may be unlimited.
- Other types of industrial property are also protected primarily to encourage technological innovation, design, and creation. These include inventions (protected by patents), industrial designs, and trade secrets.
The social objective is to protect the results of investments made in the development of new technologies, encourage research and development activities in this area, and provide the means to finance them.
Additionally, an effective intellectual property law system should enable technology transfer via joint ventures, licensing, and foreign direct investment.
Protection is generally granted for a fixed period (20 years in principle in the case of patents).
The protection of intellectual property pursues the main social objectives indicated above, but Note that the exclusive rights granted are usually subject to various limitations and exceptions in order to maintain a fair balance between the legitimate interests of right holders and users.
The benefits of intellectual property rights
Intellectual property
Intellectual property, or IP, includes works of art like these:
- The inventions
- Literary And Artistic Works
- The Designs
- The Symbols
- Names And Images Used in Commerce
Knowing how to use, protect, and enforce the intellectual property rights that an individual or their company owns is essential to doing business.
Protection of intellectual property
Intellectual property in India refers to the brand, invention, design, and any other type of creation over which the person or company has legal rights. Almost every business has some sort of intellectual property that can be considered a business asset.
The right to protect is vested in the inventor of anything novel and inventive. By submitting an IP application, inventors can register their works as intellectual property, which allows them to benefit from an exclusive monopoly on their creations.
Traditionally, IP is divided into two categories: industrial property and copyright. The first is used in the context of patents, industrial designs, and trademarks, and the second is used to protect literary creations, artistic works, musical works, etc.
As such, the right to protect IP implies exclusive rights granted to the innovator or creator. IP rights refer to not the IP itself but the legal rights bestowed upon the creator. It is necessary to understand the meaning of IP rights and know the steps taken to protect them.
In India, Intellectual Property Rights (IPR) mainly encompasses trademarks, copyrights, patents, trade secrets, designs, etc. Each intellectual property category covers a different group of properties and works. It is necessary to choose the right category to protect the company’s work and property.