Assignment Of Legal Aspects Of Business On Intellectual Property Rights

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I would like to express my sincere appreciation to Amity University; this report would not have been accomplished without their guidance. My sincerest gratitude goes to Ms. Jyoti Bharat Rangari, and who guided me with their dedicated attention, expertise and knowledge throughout the process of this report.

I thank her for valuable guidance, her commitment, timely advice and constant support at each & every step in completion of the report. Her scientific and analytical approaches to new problems, wide knowledge and discerning remarks really helped me at every need of this work. It was due to her immense keenness and continuous attention that this report could take a final picture.

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I would also like to thank Mrs. Madhuri Mahato, Mentor of MBA who guided me with her valuable guidance. Her wide knowledge really helped me at every need of this work.


Intellectual property rights (IPR) has been defined as ideas, inventions, and creative expressions based on which there is a public willingness to bestow the status of the property. IPR provide certain exclusive rights to the inventors or creators of that property, in order to enable them to reap commercial benefits from their creative efforts or reputation. There are several types of intellectual property protection like patent, copyright, trademark, etc. IPR is a prerequisite for better identification, planning, commercialization, rendering, and thereby protection of invention or creativity. Each industry should evolve its own IPR policies, management style, strategies, and so on depending on its area of specialty. The pharmaceutical industry currently has an evolving IPR strategy requiring a better focus and approach in the coming era.

These legal rights confer an exclusive right to the inventor/creator or his assignee to fully utilize his invention/creation for a given period of time. It is very well settled that IP play a vital role in the modern economy. It has also been conclusively established that the intellectual labor associated with the innovation should be given due importance so that public good emanates from it. There has been a quantum jump in research and development (R&D) costs with an associated jump in investments required for putting a new technology in the market place.

Intellectual Property- Intellectual property (IP) is a term referring to creation of the intellect (the term used in studies of the human mind) for which a monopoly is assigned to designated owners by law. Some common types of intellectual property rights (IPR), in some foreign countries intellectual property rights is referred to as industrial property, copyright, patent and trademarks, trade secrets all these cover music, literature and other artistic works, discoveries and inventions and words, phrases, symbols and designs. Intellectual Property Rights are themselves a form of property called intangible property.

Although many of the legal principles governing IP and IPR have evolved over centuries, it was not until the 19th century that the term intellectual property began to be used and not until the late 20th century that it became common place in the majority of the world. IP is divided into two categories for ease of understanding:

  • Industrial Property
  • Copyright

Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and

Copyright, which includes literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs. Rights related to copyright include those of performing artists in their performances, producers of phonograms in their recordings, and those of broadcasters in their radio and television programs.

Types of IPR

  • Patents – A patent is one of the type of intellectual property right which allows the holder to exclusively make use of and sale an invention when one develops an invention. Invention is a new process, machine, manufacture, composition of matter. It is not an obvious derivation of the prior art (It should involve an inventive step). A person who has got patent right has an exclusive right. It is a true monopoly but its grant involves an administrative process.
  • Copyrights – Copyright was recognized after the invention of printing in the 15th century, which enabled the reproduction of books in large numbers. Before that, creative writers, musicians, artists wrote, composed or made their works for fame and to be recognized rather than to earn a living and question of copyright never arose because copying required considerable time and efforts and an expensive process. WIPO defines, Copyright (or author’s right) is a legal term used to describe the rights that creators have over their literary and artistic works. Works commonly protected by copyright throughout the world include:
  • literary works such as novels, poems, plays, reference works, newspaper articles;
  • computer programs, databases;
  • films, musical compositions, and choreography;
  • artistic works such as paintings, drawings, photographs, and sculpture;
  • architecture; and advertisements, maps, and technical drawings.
  • Trademarks – A trademark or service mark is a word, name, symbol, or device used to point out the source, quality and ownership of a product or service. A trademark used in the marketing is recognizable sign, design or expression which identifies products or service of a particular source from those of others. The trademark owner can be a person, organization, or any legal entity. A trademark may be located on a package, a label, a voucher or on the product itself. Trademarks are also for the sake of corporate identity. In addition to words, trademarks can also include slogans, designs, or sounds. Trademark provides guarantee of quality and consistency of the product or service they identify. Companies invest a great deal of time, effort and money in establishing recognition of consumer and confidence in their marks.
  • Industrial Design – An industrial design is that aspect of a useful article, which is ornamental or aesthetic. It may consist of 3-D features such as the shape or surface of the article, or 2-D features such as patterns, lines or color. Industrial design is applied to a wide variety of products of an industry or handicraft; from watches, jewellery, fashion and other luxury items to industrial and medical implements; from house ware, furniture and electrical appliances to vehicles and architectural structures, from practical goods and textile designs to leisure items, such as toys and pet accessories. A new designs law repealing and replacing the Designs Act, 1911 has been passed by Parliament in the Budget Session, 2000. This Act has been brought into force from May 11, 2001.
  • Geographical Indication- Geographical indications of goods are considered as that aspect of industrial property, which turns one’s attention to the geographical indication referring to a country or to a place, situated there is as being the country or place or origin of that product. The product should have a specific geographical origin and possess qualities or a reputation due to the place of origin. To identify a product sometimes name of the place is used. 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 name of place when the product was made elsewhere or when it doesn’t have the usual characteristics can mislead consumers, and it can lead to unfair competition. Some exceptions are allowed, for example if the name is already protected as a trademark or if it has become a generic term.

Agencies and Treaties

India is also a signatory to the following international IP agreements:

  • The Paris Convention – Under this, any person from a signatory state can apply for a patent or trade mark in any other signatory state, and will be given the same enforcement rights and status as a national of that country would be;
  • The Berne Convention – Under this, each member state recognizes the copyright of authors from other member states in the same way as the copyright of its own nationals;
  • The Madrid Protocol – Under this, a person can file a single trade mark application at their national office that will provide protection in multiple countries;
  • The Patent Cooperation Treaty – this is a central system for obtaining a ‘bundle’ of national patent applications in different jurisdictions through a single application.


IPR is considered to reach economic, social and technological advancement that protects the ideas and encourages innovation, design and helps in creation of technology. The various types of IPR were planned to provide the formal basis of ownership of developed knowledge with benefit sharing between partners in innovation to create a niche of themselves. The function of IPR system is also to facilitate the transfer of technology in the form of joint ventures and licensing. The social purpose of IPR is to give protection for the results of investment in the development of new technology, thus giving the motivation and means of finance for further research and development of knowledge base; while basic social objective of IPR protection is that the exclusive rights given to the inventor, aimed at balancing that has to be formed between the legitimate interests of rights holders.




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