Intellectual property rights have grown to a position from where it plays an important role in the global economy’s development over the past two decades. In 1990s, laws and regulations were strengthened in this area by many countries unilaterally. In the multilateral level, there was enhanced protection and enforcement of IPRs to the level of solemn international commitment because of the successful conclusion of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in World Trade Organization.
There is a vast domain of intellectual property. Designs, Copyrights, and Patents Trademarks since a long time have received recognition. Newer forms of the protection are also developing particularly encouraged by the stimulating emergence in technological and scientific activities
With the rapid globalisation and opening up of the Indian economy, “Intellectual Capital” has become one of the key wealth drivers in the present international trade. Intellectual property rights have become significantly conspicuous on the legal horizon of India both in terms of new statutes and judicial pronouncements. India ratified the agreement for establishing the World Trade Organization (the “WTO”), which contains the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS). Indian Statutes, enforcement provisions and methods of dispute resolution with respect to intellectual property (IP) protection are now fully TRIPS-compliant.
India has laws covering various areas of intellectual property as enumerated herein below:
- Trade Marks: A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises.
- Patents: A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem.
- Copyrights and Related Rights: Copyright refers to the legal right of the owner of intellectual property. In simpler terms, copyright is the right to copy. This means that the original creators of products and anyone they give authorization to are the only ones with the exclusive right to reproduce the work.
- Industrial Designs: Industrial Design protection is a type of intellectual property right that gives the exclusive right to make, sell, and use articles that embody the protected design, to selected people only.
- Geographical Indications: GI is “a sign identifying a product that originates from a definite geographical territory, with a certain quality, reputation or other characteristics which are essentially attributed to its geographical origin
Broadly, the following acts deal with the protection of intellectual property:
- Trade Marks Act, 1999
- The Patents Act, 1970 (as amended in 2005)
- The Copyright Act, 1957
- The Designs Act, 2000
- The Geographical Indications of Goods (Registration and Protection) Act, 1999