The subject of IP is one which is extremely broad. There are many various sorts of rights that together structure the core intellectual property. Intellectual Property is often divided into two categories, i.e., industrial Property and intellectual property. Traditionally, many IPRs were collectively referred to as industrial assets.
IP is mainly consisted of patents, trademarks, and designs. Further, the protection of industrial property extends to the following –
- Utility models
- Service marks
- Trade names
- Signs of source or origin
- Geographical indication
- Suppression of unfair competition.
It are often stated that the term Industrial Property is that the predecessor of Intellectual property.
Copyright law deals with the protection and exploitation of the expression of ideas that are in a tangible form. Copyright has evolved over many centuries with the reference to changing ideas about creativity and new means of communication and media. In today’s time, the law of copyright provides not only a legal framework for the protection of the following-
- Traditional beneficiaries of copyright
- The individual writer
- Composer or artist
- The publication required for the work done by major cultural industries, film;
- Broadcast and recording industry;
- Computer and software industries.
It resides in literary, dramatic, musical and artistic works in “original’ cinematic films, and in sound recordings set during a concrete medium. To be protected by the copyright, the thought or creation must be one that is expressed in original form. Copyright acknowledges the economic rights of the owner along with his moral rights. This right is based on the principle fair use, a privilege for others, without the copyright owner’s permission to use copyrighted material. By the applying of the doctrine of fair use, the law of copyright strikes to maintain balance of interest among private and public.
Patent law recognizes the prerogative of a patent holder to derive commercial benefits from his invention. A patent may be referred as a special right granted to the owner of an invention to the manufacture, use, and market the invention, as long as the invention meets certain conditions laid down in law. A Prerogative right means that nobody can manufacture, use, or market an invention without the consent of the patent holder. This prerogative to patent is for a limited time only.
To obtain a patent, an invention must fall within the scope of the patentable subject and satisfy the three statutory requirements that are
- Inventive step,
- Industrial application.
One of the essentials in obtaining Patents is time. Only the first creator of the claimed invention, the novelty and necessity are hence satisfied. Novelty is often inferred by prior publication or prior use. Mere discovery ‘can’t be considered as an invention. Patents aren’t allowed for any idea or principle.
The primary purpose of patent law is to encourage research project , new technology, and industrial progress. The value of patent information is that it provides technical information to the industry which will be used for commercial purposes. If there’s no protection, then there could also be enough incentive to require a free ride at another person’s investment. This ability of free-riding reduces the motivation to create something new because the inventor might not feel motivated to create due to lack of incentives.
A trademark may be a badge of origin. it’s a specified sign wont to make the source of products and services public in reference to goods and services and to differentiate goods and services from other entities. Trademark establishes a link between the proprietor and the product. It portrays the character and quality of a product. The essential function of a trademark is to point the origin of the products to which it’s attached or in reference to which it’s used. It identifies the merchandise, guarantees quality and helps advertise the merchandise. The trademark is additionally the target symbol of goodwill that a business has created.
Any sign or any combination thereof, capable of distinguishing the products or services of another undertaking, is capable of making a trademark. It are often be a mix of name, word, phrase, logo, symbol, design, image, shape, colour, personal name, letter, number, figurative element and colour, also as any combination representing a graph. Trademark registration could also be indefinitely renewable.
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Frequently Asked Questions
What are the types of intellectual property?
- Trade Secrets
What is a function of of a trademark?
The functions of a trademark are as follows:
- They help in identification of the goods or services and its origin.
- They guarantee unchanged quality
- They create goodwill for the goods and services.
What is the purpose of intellectual property?
IP law provides businesses and people protection to the information and intellectual goods that they have created and rightly own. The laws of IP allow the creator to make profit from the information and gain some economic incentive.