RAKSHIT RAI
Join me in this little piece of the world and I’ll share with you some of the sights, reactions, and stories that make it special.
Intellectual property is a key aspect for Economic development.
~ Craig Venter
Intellectual property needs to be protected at all costs..as that’s all we have.
There are lots and lots of benefits of having an intellectual property…
Firstly, you get recognition in your locality and gradually you start getting recognized in the world through your work.
Secondly,you start having confidence in your field once you get recognition.
Thirdly,you start earning money for the ideas that striked you.
Lastly,your intellectual property is protected under the intellectual property laws.
Intellectual property means the intellectual work which is created by the intellect of human brain.
-Meaning of Intellectual property
Intellectual Property Rights
The exclusive rights which a person enjoys with respect to his intellectual property are his intellectual property rights.
The law that protects the “Intellectual property rights” is known as Intellectual property law
Laws protecting IPR
- The Trade Marks Act,1999
- The Patent Act , 1970
- The Copyright Act, 1957
- The Designs Act,2000
- The Geographical Indication of Goods(Registration and Protection) Act,1999
- The protection of Plant Varities and Farmers Right Act,2001
- The Semiconductor Integrated Circuit Layout-Design Act,2000
- The Biological Diversity Act,2002
Examples of Intellectual property
1.Literary Work produced by the authors.
2.Musical work produced by the musicians.
3.Inventions invented by the inventors.
4.coining of Trade Marks used in the course of Business or trade.
5.Design of Industrial products.
HOW IT IS DIFFERENT FROM OTHER PROPERTY ?
The owner of Intellectual property has exclusive rights over his intellectual property.
No one can make use of Intellectual property without the consent of the owner of the Intellectual property.
For Ex : no one can copy literary, musical piece of work , work an invention or apply a design to an industrial product without the consent of the author , musician or the inventor as the case may be, who has created this piece of creative work.
Similarly, no one can make use of the trade marks without the consent of its proprietor.
However,the owner of Intellectual property may assign Intellectual property itself or any interest in the intellectual property in the favour of any other person in consideration of monetary gain.
Law nap 