INTELLECTUAL PROPERTY RIGHTS:
Intellectual Property is an intangible property, which is a product of human intellect, capital, labour, etc. such as artistic creations, literary works, inventions and so forth. It is intangible because it cannot be identified with the help of its physical characteristics.
Intellectual property is an asset by which one can own their business identity, technology, works of authorship, logo, slogans and many other practical expression of the ideas that drives the business forward. Intellectual property plays a vital role at all levels of your business.
To safeguard the interest of the creators, intellectual property rights are introduced which give them the right over their property and prevents others from using it in an illegal way. There are several terms in intellectual property rights, they are described clearly in the following paras:
TERMS OF INTELLECTUAL PROPERTY RIGHTS:
Copyright is a legal IPR term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture, and films, to computer programs, databases, advertisements, maps, and technical drawings. Copyright provides the owner with exclusive rights to use, display, copy, exhibit, modify and distribute the work.
A patent is an intellectual property right which is exclusively related for an invention and grant rights on that invention. The invention may be a product or a process that provides in general for a new way of doing something, or offers a new technical solution to a problem. To get a patent, technical information about the invention must be disclosed to the public in a patent application. There are different types of patents are existed they are:
- Utility patents: These are the most common form of patents to protect physical inventions, chemicals and processes.
- Design patents: These patents protect the unique form, appearance or design of an item.
- Plant patents: These patents protect the development of a new variety of plant through an asexual reproduction in a controlled setting.
A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. Trademarks are protected by intellectual property rights. In simple words trademarks are those things that make up your brand with having certain phrases, logos, unique words, and graphic design elements can be trademarked. Trademarks defend against confusion or dilution of the brand in the marketplace. Trademarks have to be distinctive in order to gain protection. The mark’s that are associated with business denotes its strength, which plays a vital role for defending the piracies.
A geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. In order to function as a GI, a sign must identify a product as originating in a given place. A geographical indication is often related to industrial property, which adverts referring to a country or to a place, situated for the origin of that product. This geographical indication not only refers to where the product was made, but more importantly, it identifies the product’s special characteristics which are the result of the products origin. Using the place name where the product was made.
Industrial design is also a term in intellectual property. It is a process of design applied to products that are to be manufactured by mass production. It can be applied to a wide variety of factors like, materials, production processes, business strategy and prevailing social research activities, commercial or aesthetic attitudes.
As per the Indian law, under the design act 2000, Industrial design protection is a type of intellectual property right that gives the exclusive right to make, sell and use articles that embody the protected design to the selected people only.
Trade secrets are intellectual property (IP) rights on confidential information which may be sold or licensed. In general, to qualify as a trade secret, the information must lie in commercially valuable because it is secret and should be known only to a limited group of persons and also it should be subjected to a reasonable steps taken by the rightful holder of the information to keep it secret, including the use of confidentiality agreements for business partners and employees.
The unauthorized acquisition or use or disclosure of such secret information is referred as an unfair practice and considered as violation of the trade secret protection.
So, These are some of the terms that are related to Intellectual property rights. Which are useful and necessary for any type of organization or firm to protect their new inventions, logos, artistic works etc… from their competitors.