Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. Though, it seems to be a very simplistic domain but is currently the one of most sought after domain in this progressive era of India. It entails Indian and global businesses to obtain and enforce intellectual property rights by assisting in filing, prosecution, registration, licensing, valuation and defending rights against infringement.
The major concerns of organizations nowadays are ensuring wholesome protection of their distinct identity. The laws provide such protection by registration of Trademarks which can include registration of words, phrases, letters, numbers, shapes, logos, pictures, colours, aspect of packaging or a combination of these, if distinctive The recent amendment in the rules brought in by the government of India has also allowed 3D Images and Sound marks to be registered. IP protection is something which requires constant supervision of the IP assets necessitating vigorous protection and enforcement for brand value and goodwill with trade mark watches, international registration of trade marks, handling trade mark oppositions and rectification, enforcement and related activities, including investigation and border protection, domain name protection and enforcement, intellectual property transactional work including assignments, licensing and franchising and intellectual property Management, including branding strategies, auditing and due-diligence services.
In Copyrights and Designs also various factors are to be considered like expert knowledge of laws on copyrightable content , registering intellectual property transactional work including assignments and licensing, compulsory licensing proceedings, enforcement, including investigation, civil infringement litigation, pursuing criminal remedies, and international protection Management and due-diligence services, protection of packaging, how labeling has been done, shape, configuration, pattern, ornament or composition of lines or colours of the product , which in other words includes protection of only the features of aesthetic value.
Visionary innovation is the key to future. If visions and ideas are not protected, it will kill the urge of human beings to come up with innovations. The national Intellectual Property Rights (IPR) policy is predicated upon the principle that intellectual property protection is necessary to spur innovation. India’s rank on the Global Innovation Index, which attempts to measure performance with respect to creativity and innovation, has slipped from 62 in 2011 to 76 in 2014. India scored a major improvement in 2016 compared to its previous rankings by ranking 66th from 81st of 2015. Our countries major concern uncertainty around software patentability, Section 3(d) of the Patent Law, and High Court copyright decisions with regard to Fair Use. Needless to say, the IP maximalist agenda of the new IPR policy will no doubt be accepted by Trans Pacific Nations but at what cost to our National Policy is something every interested party is looking at with concern.