Concept, Nature and

Significance of IPRs
 CONCEPT OF PROPERTY
 A thing which has got some commercial value.
 Changes in the concept of property. From physical or material form to non-physical and immaterial form.

Property

Corporeal Incorporeal

Material or Physical Immaterial or

Form such as Land, Non- Physical
Building Form

Immaterial
Things like
Encumbrances
patents,
like leases,
trademarks,
mortgages
copyrights
IP as a Property

Intellectual property, like any other form of property, consists of a bundle of rights in the hands of the owner.
Therefore, intellectual property can be :
 transferred
 exclusively used
 commercially exploited
 sold
 bought
 licensed
 passed under a will
 assigned
Meaning and Features of Intellectual
Property
 Intellectual property is all about ideas skillfully expressed resulting in innovative and
creative works.
 Legal rights which result from intellectual activity in the industrial, scientific, literary and
artistic fields.
 Negative Rights- Right of the owners of IP to exclude others from using their IP
 Need to protect intellectual property:
1. Providing appropriate incentives to owners may increase innovation and creation of
intellectual property.
2. If such incentives are not provided, the level and degree of innovation may suffer ,
hampering economic growth
Significance of IP

 The intellectual property system helps strike a balance between the interests of innovators
and the public interest, providing an environment in which creativity and invention can
flourish, for the benefit of all.
Examples:
 The multibillion dollar film, recording, publishing and software industries – which bring
pleasure to millions of people worldwide – may not exist without copyright protection.
 Without the rewards provided by the patent system, researchers and inventors would have
little incentive to continue producing better and more efficient products for consumers.
 Consumers would have no means to confidently buy products or services without reliable,
international trademark protection and enforcement mechanisms to discourage
counterfeiting and piracy
Justification for IPRs

 John Lock’s Labour Theory: Human Labour deserves certain proprietary rights.
 Bentham’s Utilitarian Theory : Maximum benefit of the maximum members of the society
should be guaranteed.
Intellectual Property Life Cycle

Creating
the IP

Protecting
the IP

Utilizing
the IP

Enforcing
the IP
 Types of IP
Intellectua
l Property

Industrial
Copyright
Property

Patents
Trademarks
Industrial Designs
Geographical Indications
Trade Secrets
Confidential Information
Copyrights
 Copyright laws grant authors, artists and other creators protection for their literary and artistic creations,
generally referred to as “works”. Works covered by copyright include, but are not limited to: novels, poems,
plays, reference works, newspapers, advertisements, computer programs, databases, films, musical
compositions, choreography, paintings, drawings, photographs, sculpture, architecture, maps and technical
drawings.

Patents
 A patent is an exclusive right granted for an invention – a product or process that provides a new way of
doing something, or that offers a new technical solution to a problem. A patent provides patent owners with
protection for their inventions. Protection is granted for a limited period, generally 20 years.
Trademarks
 A trade mark is a distinctive sign or visual symbol. It may be a word, signature, name, device, label, letters,
shapes, numerals, or combination of colours that clearly identifies certain goods or services produced or
provided by a specific person or enterprise.
Industrial designs
 Industrial designs protect the aesthetic aspects (shape, texture, pattern, colour) of an object rather than its
technical features. Industrial designs are applied to various products such as watches, jewellery, house ware,
electrical appliances, and leisure goods. To obtain protection under domestic design laws, it is essential for
an industrial design to be new or original.
Geographical Indication
 A geographical indication is a sign used on goods that have a specific geographical origin and possess
qualities, a reputation, or characteristics that are essentially attributable to that place of origin. Usually, a
geographical indication includes the name of the place of the goods—for example Champagne, Mysore Silk,
and Darjeeling Tea.
Trade Secret
 A trade secret consists of data or information relating to a business that is not usually known to the public,
and that the owners generally attempt to keep confidential. A trade secret can comprise of any data or
information, so long as it is intended by the owner to be a secret and is kept as a secret. (Karim’s food
preparatory materials are trade secrets)