Author : Yashi Daingrey
Intellectual property is a class of property that covers non-physical modeling of the human intellect. The most well-known kind of intellectual property contains copyright, patents, trademarks, and trade secrets. Brand such as Nike, Apple, Puma and many more are also a part of intellectual property used by the respective companies to earn royalties by renting the brand name to different products. This is usually the way of earning for artists from different fields.
WHAT IS INTELLECTUAL PROPERTY?
It names to creation of the inventions written and artistic work & symbol, name and pictures carried in trading. Intellectual Property is split-up into two group:
- Industrial property
- Industrial property :- it has patents for invention, trademark design & geographical design
- Copyrights :- covers artistic work like novel and plays also films, artistic work and architectural design.
A patent is a kind of right allowed by the government to creator or their heir In-title, providing the holder the right to keep out others from creating, selling, utilizing, or present to sell and importing a product for a limited period of time.
Who Grants patents?
Patents are permitted by national patent offices that execute inspection of countries for example European Patent Office (EPO) .An applicant requests conservation for creation in one or more countries and each country determine whether to five it conservation under their border. The WIPO- Administered cooperation treaty (PCT) for the finishing of a single international patent application that has the same result as a national application filed in the appointed countries. An applicant seeking conservation can file application and request conservation in as various signatory states as needed.
A trademark is similar design or expressions that distinguish goods or services of a dealer from same type of goods or services of other dealer.
It takes place when one dealer uses trademark which is similar or confusing same to trademark, in connection to goods or services of other party. In other countries, a trademark gets maintenance with no enrollment, but enrollment a trademark gives legal profit for imposition.
INDUSTRIAL DESIGN RIGHTS
An industrial design right covers the visual design of piece that are not exactly utilitarian. An industrial design includes of the creation of space composition of design or color or amalgamation of design or color in three dimensional from containing aesthetic value. An industrial design can be a two or three extent pattern used to produce product, industrial commodity or hand made . It helps a product to act more appealing towards the consumers and increasing its commercial value with it.
Plant breeder’s rights are the rights to profitably have a new type of plant. The types among many should be new and different from the previously registered plants. For the registration rebellion of material of different is taken. This helps in the heartening of producing new varieties.
It is the term for the art which normally defines to properties of the visual and artistic aspect of the commodity or the place from where purchase the product and this means the source of the commodity to its buyers.
It gives the innovator of native task that is complete rights to it, normally for a periodic time. Copyright can apply to an extensive limit of creative, intellectual, or artistic kinds, or works. Copyright doesn’t cover plan & data themselves, only the form or way in that they are indicated.
OBJECTIVE OF INTELLECTUAL PROPERTY RIGHTS
The objective of intellectual property right is to create a wide range of products that are useful to the community’s around. This law gives people property rights over their product for a restricted period of time by which they can earn from it for their wellfareness and future endeavors. Also it allows to created awareness about the Intellectual property. And to stimulates the creations and extension of intellectual property by pledging relevant measures. It allows to effective laws, consistent with international restriction and update and strengthen IP management and to catalyze materialization of rights. .
DISADVANTAGES OF INTELLECTUAL PROPERTY RIGHTS
To get certain types of this right the inventor has to apply for a patent or copyright of certain product to the WIPO (world intellectual property organization) to get it registered under their name. This process is a long and costly process. It requires the inventor to pay registration fees and other fees to the process. It impact on the poor section of innovators who cannot afford to pay the fees. In some developing and developed nation this process of registration is being corrupted by the officials. They money launder or uses corrupt techniques to plagiarize the idea and sell it to the highest bidder for money. This process sometimes is not well regulated by the government. Also they are not always apparent to individual looking to establish ownership by securing copyright trademark, or patent conservation for something they have created.
ADVANTAGES OF INTELLECTUAL PROPERTY RIGHTS
Intellectual property rights provide a window of cash flow to new startups based on a certain product. It helps artists around all general to profit from their art by providing them ownership over their talent. It also encourages new young class of people to proceed toward a future in innovation or arts. It gives them security for their future. Some innovators use their royalties earned from their product as a capital for new innovations. This helps to assure that new innovations won’t stop in the near future.
WORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO)
Established in 1970, The World Intellectual Property Organization (WIPO) is an international organization committed for making sure that rights of creators and holder of intellectual property are safeguard worldwide and that the acknowledged for creativity.
This international conservation acts as an encouragement to human ingenuity, pushing back the boundaries of science and technology and enhancing the world of literature and the arts. By giving a fixed environment for marketing goods safeguard by Intellectual Property, it also oils the wheels of international trade..
How is WIPO Funded?
WIPO is largely independent organization. It is causing around 90% of its total budget. It is largely used international enrollment and stuffing systems, and through its publications & mediation & negotiation services. The enduring funds come from donation by its associates.
Intellectual property rights are holding rights that are granted their holder the short-term privilege for the complete misuse of the income rights from pronouncement and inventions. There must be a good reason for the society to grant such benefit to some of its individual, and therefore the exponent of these rights have provided three widely accepted extenuation to defend the interwoven worldwide intellectual property rights authority we have in place today.