INTELLECTUAL PROPERTY RIGHTS:
·
Intellectual
Property is a product of the human intellect that has commercial value
·
Many of
the rights of the ownership common to real and personal property are also
common to Intellectual Property
·
Intellectual
Property can be bought, sold, and licensed
· Similarly it can be protected against theft and infringement by others Patent, Design & Trademark together with Copyright form TOTAL INTELLECTUAL PROPERTY:
Patent
1. Derived from the Latin word „LITTERAE PATENTES‟
which means „Open Letters‟ or „Open Documents‟ to confer rights and privileges.
2. A contract between an Inventor and the
Government
3. An exclusive privilege monopoly right granted
by the Government to the Inventor
4. Invention may be of an Industrial product or
process of manufacture
5. Invention should be new, non-obvious, useful
and patentable as per Patents Act
6. The right to the inventor is for limited period
of time and valid only within the territorial limits of a country of grant.
Examples: a drug compound, a tool, maybe
software effects
Design
·
Meant
for beautifying an industrial product to attract the consumer public
·
Shaping,
Configuration or Ornamentation of a vendible Industrial product
·
Exclusive
„Design Rights‟ to the originator for a limited term
·
Patents
& design embrace the production stage of an industrial activity
Trade
Mark
·
Trade
Mark is a name or symbol adopted for identifying goods
·
Public
can identify from the Trade Mark from whom the product is emanating
·
Trade
Marks protection is given for an industrial product by the Government
·
Examples:
Channel No.5‟s smell, Jacque Villeneuve‟s face!
COPY
RIGHTS
·
The
right to original literary and artistic works
·
Literary,
written material
·
Dramatic,
musical or artistic works
·
Films
and audio-visual materials
·
Sound
recordings
·
Computer
Programmes/software
·
SOME
databases
·
Example:
Picasso‟s Guernica, Microsoft code, Lord of the Rings
Need For
A Patent System
·
Encourages
an inventor to disclose his invention
·
Encourages
R & D activities as the industries can make use of the technology, &
avoids redundant research
·
Provides
reasonable assurance for commercialisation.
·
Provides
an inducement to invest capital in the new lines of production and thus , help
for technical development and up gradation.
·
One may
get a very good return of income through Patent Right on the investment made in
R & D.
Effect
of Patent
·
A
patentee gets the exclusive monopoly right against the public at large to use,sell
or manufacture his patented device.
·
A
patentee can enforce his monopoly right against any infringement in the court
of law for suitable damages or profit of account.
·
The
Government ensures full disclosure of the invention to the public for exchange
of exclusive monopoly patent right to the inventor.
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