Abstract
The focus of this paper is, related with the main theme of the conference, on the importance and need of the Intellectual Property Rights. I have tried, at my best, to suggest by way of the available resources and my perception the need and importance of Intellectual Property Rights. Taking the broader approach i have tried to emphasize on the advantages of the protection of the intellectual property. I have explained with reference to the Indian Constitution the place of the Intellectual Property Rights.I think, for being both rationally demanding and professionally pertinent, Intellectual Property Rights must be protected, in the interest of not only of the individual one who invents it but also for the interest of the Nation and
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It also includes trade secrets, publicity rights, moral rights etc. The artistic works like music and literature and inventions of words, phrases can be described as intellectual property. It may be said that intellectual property is a general term for the set of intangible assets owned and legally protected by a company from outside use or implementation without the permission. Intellectual Property Rights means in simple language rights over the intellectual property. It includes patent, copyright, trademark etc.
Importance and Need of the Intellectual Property Rights
As we have seen the laws in India regarding intellectual property and constitutional provisions. We have realized the issue that how important it is to protect the intellectual properties by way of right. Thus we will understand the importance and need of the Intellectual Property Rights by way of the following points.
1) Value and Respect to Intellectual
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Some brands have their own good will. People purchase some product in the market only due to the brand. They believe in the brand. Thus in order to form your own brand it has become necessary to protect the intellectual property.
4) To keep aloof your competitors
Once you acquire the patent by way of the intellectual property rights, you will be in a safe zone. It means no one can copy your idea and sale into the market and earn money. It means it ultimately keeps your competitors aloof from you.
5) Measure source of revenue stream
Intellectual property rights are not only beneficial to the individuals who invent them but to the Govt. also. The concerned govt. can collect revenue from the intellectual property. It can be taxed as like other property. So it increases national income.
6) Securities for loan.
As a lay man we know that in order to get a loan from the bank we have to give some property as security. Herein after it would be possible for the banks to take intellectual properties as a security for the loan being the form of property.
7) Provides exclusive use of his
Way before their time Esther Dyson and Lance Rose both had their own opinions about the future of 'intellectual property' in the digital age. In 1995, two authors noticed this emergence of change. In the Wired article "The Emperor's Clothes Still Fit Just Fine" Lance Rose suggested that the norm of copyright infringement being a criminal act such as stealing a car would prevent this practice from becoming something that would be acceptable in society today. This leads into his argument that we do not need to change the current laws (in 1995) to prevent future copyright infringement. Esther Dyson's Wired article on the other hand titled "Intellectual Value" expresses a completely opposite view of this very same issue of copyright. Her arguments support the claim that copyright infringement would become more prominent in society and cause major revision of how we approach and pass laws toward the handling of intellectual property. Both of these articles were very predictive from the time they were written and have been proved accurate by events through the years.
(i) Foster creativity and innovation, promote trade in goods and services that are the subject of intellectual property rights.
a car, wallet, photograph, shirt, pen and phone and so on) (Roger, 2012). The intangible personal property, on the other hand, is personal property that by its very nature does not have a physical existence as such, but is merely a right that can be owned as opposed to a real, tangible objects (i.e. stocks and bonds) (Roger, 2012). Overall, the real, intellectual and personal property has the same rights under the law, but their circumstances are very different in
Intellectual property is an incredibly complicated facet of the law. In the United States, we have many laws in place to control and limit profiting from others intellectual property. The issue is not only profiting from others intellectual property, but not purchasing the property from the originator as well. We will discuss why it is important to protect this property as well as why it is tremendously difficult to regulate all these safe guards. “Intellectual Property has the shelf life of a banana.” Bill Gates
Intellectual Property Law used to only protect art, music, and literature, but because of technological development, Intellectual Property Law now also protects a greater variety of innovations including designs, inventions, symbols, discoveries, and words. The phrase “intellectual property” was first known to be used in the late 1700’s; however, it was not widely talked about, nor was the Intellectual Property Law in actuality commonly implemented. Intellectual Property Rights slowly gained more attention by mid-1800’s after the Industrial Revolution had taken place: more companies were created, competition between corporations became fiercer, and owning unique innovations were crucial to winning the competition. However, as Intellectual Property
“Copyright is a fundamental right of ownership and protection common to all of the arts” (O’Hara & Beard, 2006, p. 8). “It is a form of intellectual Property (IP)” and it gives the owner exclusive rights to the copyright (O’Hara & Beard, 2006, p. 11).
The World Intellectual Property Organization, Intellectual property is the ‘products of the mind: inventions, literary and artistic works, any symbols, names, images, and designs used in commerce’. Intellectual Properties such as Patents, designs, trademarks and copyrights are protected by laws. The US government offers different types of protection for these properties. The Lanham Act (15 U.S.C.A. Section 1051 et seq., also known as the Trademark Act of 1946, provides protection for trademarks. A trademark is defined as a name, word, symbol, or device or any combination thereof, adopted and used by a manufacturer or merchant to identify its goods and distinguish them from those manufactured and sold by others.
Intellectual property is property resulting from intellectual, creative processes. A product that was created because of someone’s individual thought process. Examples includes books, designs, music, art work, and computer files. (Miller R. J., 2011, p. 114) In the music industry a copyright is an important tool for artist to use to protect themselves from infringers. A copyright is the exclusive right of an author or originator of a literary or artistic production to publish, print, or sell that production for a statutory period of time. A copyright has the same monopolistic nature as a patent or trademark, but it differs in that it applies exclusively to works of art, literature, and other works of authorship (including computer programs). (Miller R. J., 2011, p. 125)
Governments provide the legal and social framework in market economies by establishing and protecting the rights to private property and to the economic gains derived from the use of that property. The government's protection of private property extends to land, factories, stores, as well as intellectual property. Intellectual properties are protected by exclusive rights, called copyrights, to protect such things as books, music, films, and computer software programs, etc; or patents, protect other types of inventions, designs, products, and manufacturing processes. These exclusive issued rights give the holders the rights to sell or market their products and creations for a specified period of time.
Intellectual property (IP) is defined as property that is developed through an intellectual and creative processes. Intellectual property falls under the category of property known as intangible rights, which includes patents (inventions of processes, machines, manufactures, and compositions of matter), copyrights (original artistic and literary works of), trademarks (commercial symbols), and trade secrets ((product formulas, patterns, designs). Intellectual property rights has a significant value to both individuals and businesses, providing in the case of large companies, over one half of their value on return. Since intellectual property rights are so important to the U.S. economy and its citizens, federal and state law provides protection, for example, civil damages and criminal penalties to be assessed against infringers. Due to the importance of intellectual property to a business, I don’t think that its protection and enforcement is going to be a thing of the past.
There are many reason that why is it important to protect one’s intellectual property. Some of the reason are Creator being accused as a theft, Loss of Reputation, Loss of income, Loss of Asset and Loss of Authority Rights.
...ple's physical property, there is clearly a social benefit from the wide dissemination of intellectual propertyi.e., ideas and their expressions.
Copyright is a protection for authors, composers or artists and other creators who create innovative idea base work. Copyright law is important because of its role to protect the interests of the creator, while allowing others to gain access to it legally. It designed to make sure that creators receive appropriate rights for their own ideas and creativity, and to promote artistic creativity by protecting the creator.
Intellectual property is the ownership of ideas as well as the control over the tangible or virtual representation of those ideas. Software is intellectual property, as are books, movies, and music.Like music performers and authors, software developers use copyright laws to protect their work and their investment in the field. The theft of intellectual property thus eliminates the resources used to develop newer and better products.
Intellectual property is information, original ideas and expressions of the persons mind that have profitable value and are protected under copyright, patent, service mark, trademark/trade secret regulation from replication, violation, and dilution. Intellectual property includes brand items, formulas, inventions, data, designs and the work of artists. It is one of the most tradable properties in the technology market.