What is Intellectual Property & Why Protect it
What is Intellectual Property & Why Protect it ?
Intellectual property rights (IPR) are any other property right. Which allow creators or owners to benefit from investment or their own work in a creation of patented, trademarked or copyrighted work. Intellectual property is divisible into two categories:
- Industrial patents for inventions trademarks industrial designs.
- Copyrights which covers literary works, films, music, artistic works and architectural design.
A well placed intellectual property protection system can help realize globally, the intellectual property’s potential as a catalyst for economic development and holistic well-being. The intellectual property protection system helps to provide an environment in which creativity and innovation can prosper, for the benefit of all.
Why protect intellectual property?
- For the progress and well-being of humanity, which rests on its ability to create and invent new works.
- For the legal protection of new creations which encourages further innovation.
- For the promotion and protection of IPR which stimulates economic growth, generate new jobs and prosperous industries, and elevates the quality of life.
Citing status of IPR protection in India, Jasneet Kaur, an IPR Lawyer with Supreme Laws while mentioning few examples said In India intellectual property rights are secured, protected and controlled by well- established a statutory and judicial framework. Few cases are:
- The dispute over Patent for the Use of Twin-Spark Plug Engine Technology – Speedy disposal of Intellectual property rights cases in Bajaj Auto Limited Vs. TVS Motor Company Limited JT 2009 (12) SC 103,
- Suit for infringement by a registered trademark owner against a registered trademark holder in Clinique Laboratories LLC and Anr. Vs. Gufic Limited and Anr. MANU/DE/0797/2009
- Rejection of a patent for a Drug which was not ‘inventive’ or had a superior ‘efficacy’ in Novartis v. Union of India [CIVIL APPEAL Nos. 2706-2716 OF 2013 (ARISING OUT OF SLP(C) Nos. 20539-20549 OF 2009]