What are intellectual property rights?
The rights that are granted to any individual or entity over his/her/their creative works are known as intellectual property rights. Typically, they grant the applicant/inventor a limited and exclusive right to utilise his or her creation. They are legal rights and include patents, copyright, trademarks, industrial design, geographical indication, and traditional cultural expressions, rights over plant variety , trade secrets etc. They allow owners and inventors to profit financially from their inventions.
What is IPR Protection?
IP rights can be enforced by criminal prosecution or by filing lawsuits in civil courts. The IP Laws specify both civil and criminal action for protection and enforcement of one’s intellectual property rights. . Criminal prosecution carries with it the possibility of harsher penalties, such as fines as well as jail term. As an alternative to litigation, mediation or negotiations with infringers are a fruitful means as well. Indian legal system provides a formal framework for mediation procedure as well for protection and enforcement of IP is provided under law for pre litigation mediation processes.
Types of Intellectual Property Rights in India
A patent is an exclusive and territorial right granted for an invention, which is a product or process that provides, in general, a new way of doing something, or offers a new technical solution to any problem. A patent is granted for 20 years in India. Trademarks
A trademark is a distinctive logo/word/image/tagline that distinguishes one brand from another. Trademark registration allows the owner to exclusively use, license the mark to another party in return of a payment. In India, trademark has to be renewed after every ten years.
Copyright refers to legal rights that creators have over their literary and artistic works. Books, music, paintings, sculpture, films, computer programs, databases, advertisements, maps and technical drawings.
The Copyright Act was passed in 1957, and it has since undergone a number of revisions to bring it up to the standards set forth in TRIPS. The Act protects the freedom to engage in creative activities such as painting, sculpture, drawing, engraving, photojournalism, artistic craftsmanship, dramatic work, work of literature, musical activity, sound recording, and filmmaking.
Legally, industrial designs refer to ornamental aspect of any article. It consists of three or two dimensional features such as shape, patterns, lines and colour.
Why do you Need to Protect your IPR?
Intellectual property rights need to be safeguarded.
- First, inventors are granted exclusive rights to exploit their intellectual property (IP) for their own financial gain. Second, by registering IP, the innovator can stop others from exploiting and profiting financially.
- Thirdly, the creator has the option to initiate a lawsuit against the party trying to profit from the invention
If found guilty, the court may grant the inventor a monetary compensation, which would be paid by the person or organisation attempting to profit financially from the invention that belonged to the IP owner. As a result, IP rights are crucial because they give innovators the motivation to continue innovating and making profit by commercialsing their IP rights.
How Knowledgentia Consultants can help you in Global IPR Protection?
- We have many years of experience helping our clients in India and abroad to safeguard intellectual property.
- We are experts at gathering and defending intellectual property from India.
- We have experience in enforcing and protecting trademarks and patents for all our clients nationally and globally.
- For our international clients, we have submitted well over 10,000 patent applications in the most cutting-edge fields.
- We are able to offer our clients service around-the-clock.
- Our team provides clients the greatest quality work in a timely manner.
- We do thorough prior-art searches in a variety of technological fields, including computer software, electronics, mechanical, medical, and biotechnology.