INTELLECTUAL PROPERTY RIGHTS
Intellectual Property are the intangible assets of a business and are in the form of innovations, inventions, ideas & creations of the human mind– a result of the application of the intellect.
The laws which safeguard such original ideas are called Intellectual Property Rights, which gives the creator an exclusive right over the use of his / her own original creations for a certain period of time, to the exclusion of others. Intellectual Property Rights allows intellectual property owners alone to benefit from their inventions during this period.
The owner of Intellectual Property Rights may – while exercising his/her right – prevent the manufacture, use or sale of a product / service which incorporates his / her Intellectual Property Right and can take legal action in case of any imitation.
Every product or service needs a unique name that helps to identify and differentiate it from the rest of the market. A company invests considerable resources and invaluable time into this name – creating brand awareness through modest means of advertisements, building enviable goodwill and impeccable trade reputation, and cultivating a favorable image – turning it into a valuable brand.
Due to its immense popularity, the brand (known as a TradeMark), will then tend to attract unsolicited attention when other companies begin to copy, imitate, or use it without permission to exploit their revenue stream. It is therefore of utmost importance for a Trade Mark to be protected – and the best way to attain protection for the Trade Mark is by getting it registered. Registered TradeMarks, with their immense revenue-generating power, are often considered the most valuable form of Intellectual Property a company can have
Copyright allows authors, artists, and other creators of original works to create works without fear of someone else copying and profiting from their work. It helps establish ownership and protect works of art like books, software, music, video recordings, artwork, and more. Copyright comes into existence as soon as the work is created and no formality is required to be completed for acquiring copyright protection. The work is already protectable through the International Copyright Order, 1999. India is a member of the Berne Convention as well as the Universal Copyright Convention. Therefore work created in other member states is accorded protection in India as well.
However, it is advisable to apply for registration of copyright in India as the certificate of registration of copyright and the entries made therein serve as prima facie evidence in a court of law concerning dispute relating to ownership of copyright.
Have you ever dreamed of becoming a great inventor—of having a fantastically clever idea that changes society for the better and makes you rich in the process? The history of technology is, in many ways, a story of great inventors and their brilliant inventions.
Inventing isn’t just about coming up with a great idea; that’s the easy part!
There’s also the matter of turning an idea into a product that sells enough to recoup the cost of putting it on the market. And there’s the ever-present problem of stopping other companies from copying and profiting from your ideas. That is where Patent registration comes into play.
When a company has a new invention with vast commercial potentials, this invention often becomes a great asset that can lead the company into new breakthroughs in terms of its financial performance. This is more so when the company owns the exclusive ability to commercialize and market this invention, thus giving it a market monopoly that promises exclusive territories of profits, totally out of bounds for its competitors. Therefore, if the invention is new, inventive, has market potential and has a risk that another company may profit from that invention besides the company itself, the company should protect it through a Patent registration. A Patent is to provide exclusive rights of the owner of the original invention to profit from it.
Design is where function meets form. From tables to cars, industrial design is one of the key factors that attracts us to a product, or leads us to prefer using one product over another. Anyone who relies on the aesthetic appeal of his products to sell them and gain a competitive edge over his competitors would most likely be concerned with preventing them from copying his product designs. That is why filing for Industrial Design is essential in ensuring that the design of the products remains exclusive
Protects origin of the product
Protects the name & title of websites