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The intellectual property rights play an important role in protecting the rights of the creators and innovators over their ideas and their creations so that they might be protected from being stolen by someone and to deter others from stealing the original ideas of someone.
The field of intellectual property rights is ever increasing and its importance has been realized in varied fields especially in trade and research and allied areas both at the level of nations as well as in the international arena. There has been a realization at the international level amongst the countries that they need to have laws in order to protect the trade and so that the growth of their countries’ economies might not be hindered and thus to achieve this end many efforts have been made by the nations in order protect the intellectual property rights.
When we talk about intellectual property rights, these are basically concerned with the intangible property and because of the easy availability of such property especially in today’s times it has become very easy, and thus copying or imitating the content without thinking about the consequences has also become rampant. Hence, the need for enhanced protection of intellectual property rights has become important now more than ever.
The system of granting and using the intellectual property rights needs to be beneficial to all and as the system of usage and exploitation is helpful with the economic growth and development of the society and helps the trade and investments to thrive, thus there is higher responsibility to have effective laws pertaining to intellectual property rights. The laws which protect intellectual property rights are an important factor that might help the growth of countries in a way and can become instrumental in the development, thus laws must be framed with caution.
Intellectual property rights can be divided into five major types of viz. Copyrights, Trademarks, Geographical Indications, Industrial Design, Patents.
The Copyrights pertain to the protection of the rights of the creators over their works that involve the use of human intellect like the literary and artistic including writings, music, fine arts, paintings, computer programs, databases, etc. There ought to be an expression of the idea in some way by the creator just the idea itself can’t be protected by copyright. The Trademarks act as an indicator of a particular product or service and are used to attract the consumers as well. The Geographical Indicators used with regard to certain products that exist in a particular geographical area and have such intrinsic properties that might not be existent in similar products pertaining to other areas. For e.g.:- Darjeeling tea, Thai silk, etc. The Industrial Designs refer to a particular combination of colors and lines which form a design that is used to differentiate the product from others and pertains to the whole appearance of a product. For e.g.:- particular designs of water bottles and of laptops etc. Patents are a kind of certifications that are granted to someone who has developed or invented something novel which was not in existence earlier in the world or was earlier unknown to mankind.
If one secures particular Intellectual Property Rights then it can be advantageous to him in many ways. The securing of such right can bring in profits for the original creator in the form of royalty and can have commercial success through his idea. The intellectual property rights help to create a particular identity and mark for a good or service and thus helps the consumers in identifying a product. The right over the property helps to increase the sales of a product through the unique attractiveness. The rights of a creator or innovator are protected from being infringed by illegalizing the imitation or illegal reproduction of a product. It helps the small businesses by protecting them and their ideas from being copied and by protecting them against the big businesses that are ready to crush their competition.
The protection through intellectual property rights has become an intrinsic part of the countries of the world and there has to be strict implementation of the laws to have a fair trade in the world and to help the indigenous ideas and businesses thrive in the highly competitive world.
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