What Is The Scale Of Intellectual Property Law In India?

 

Intellectual Property


Over time, Intellectual Property Rights and Corporate Law have grasped a prominent hold in its role of importance in the development of the economy, businesses, and companies. With the rapid growth in the liberalization of the economies and globalization, Intellectual Property Rights and Corporate Laws have become one of India's unprecedented elements of the business. In this article, we will explore all the necessary information a person needs to have regarding the Intellectual Property Laws and Corporate Laws in India.

 

What Are Intellectual Property Rights?

 

IPR or Intellectual Property Rights are defined as the inventions, ideas, and creative expression to which a person claims the status of the property. IPR provides the owner or creator the creative expression with the exclusive rights through which one can implement the benefits of commercial growth in terms of business capital. IPR refers to the legal rights that the creator or inventor of a product possesses for a limited period. These rights benefit the creator significantly and provide them with a pedestal for fully utilizing their ideas. While there is a brief history of IPR, which has roots in Europe, in India, IPR is covered under Intellectual Property Law.

In the 1990s, the laws revolving around IPR were strengthened worldwide, with the international conclusion of the Agreement on Trade-Related Aspects of Intellectual Property Rights in WTO.

 

What Is The Role Of Intellectual Property Rights & Intellectual Property Law In India?

 

With the conclusion of Trade-Related Aspects of Intellectual Property Rights in the World Trade Organisation, India made several changes to its Intellectual Property Law to comply with the laws on an international level. With this being said, India modified and amended several Intellectual Property Laws in the last two decades, which have significantly impacted business growth in India.

●     Patents Act, 1970

 After signing the TRIPS agreement, the Patents Act was amended from time to time, with the last in 2005, so that it could meet the obligations that fall under the TRIPS agreement. The amends in the Patents Act, 1970, has constantly supported the technological developments in the country. Patents (Amendments) Act, 2005 resulted in the expansion of the product patent to all the marked fields, including chemicals, drugs, food, and micro-organisms. 

●     Trademark Act, 1999

 Trademark, as we know, is a unique symbol that directly leads to the differentiation between brands and something labeled as essential to protect the brand from being replicated illegally. The Trademarks Act of 1999 gives the rights for registration of service marks, multiclass filings, and a term of 10 years for registration of trademarks.

●     The Designs Act, 2000

 The importance of Design Registration has grown with time in India. With businesses realizing the importance of the uniqueness of their products, the Designs Act 2000 is promoting developments in the industry by providing the necessary protection for 'articles' under design registration. The Designs Act, 2000, provides the creators and inventors of unique designs with the proprietorship of using it for commercial benefits for economic advancements.

●     The Geographical Indications of Goods Act, 1999

The Geographical Indications of Goods Act, 1999 came into effect after the goods from India, such as turmeric and basmati, were patented by people outside India. The act's purpose was to stop and ensure that there is no misuse of Indian Geographical indications.

●     Copyright Act, 1957

 Being one of the oldest acts under the Intellectual Property Laws, the act protects a person's creative approach in literary, musical works, artistic, filmmaking, etc. The copyright to an author is given for his lifetime and the span of 60 years after the author's death. To qualify under the Copyright Act, 1957, the work is not required to be qualitative but only different and unique from the other works of the same domain.

●     The Protection of Plant Varieties and Farmers' Rights Act, 2001

To give researchers protection and encourage the discovery of new and better breeds of plants, the Protection of Plant Varieties and Farmers' Rights Act, 2001, came into effect. Through the act, the promotion of the development and protection of new varieties of plants as possible resulted in a terrain of new possibilities for researchers and farmers.

 ●     The Semiconductor Integrated Circuits Layout Design Act, 2000

India has seen new heights of achievements with constant growth in the IT and digital industry. Being one of the fastest growing industries of the century, it has provided human life with the most advancements of all time. Microelectronics, namely semiconductor chips, has been the core of the IT industry throughout the years. To protect and encourage regular R&D in microelectronics, the Semiconductor Integrated Circuits Layouts Design Act, 2000, came into effect. The act intended to ensure the protection of layout designs in integrated circuits.

 ●     Conclusion:

Summing up the above, the Intellectual Property Laws in India indicate India's constant growth in the IPR as the trades between countries and businesses grow with each passing day. Intellectual Property Laws are subject to significant complications as one must prove the uniqueness of their product, design, article, or literature to be able to get protected by the law and use the creation commercially for the advancements of business or one's economy. Thus for diving into the lanes of Intellectual Property Laws and Corporate Laws, one needs professional guidance from experienced personnel like Vidhinyas Solicitors & Associates. They have expertise in the fields of Intellectual Property Laws and Corporate Laws in India.



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