Intellectual Property in Today’s Era

BLOG- Intellectual Property in Today’s Era

BLOG/ NEWS Intellectual Property LAW EXPLAINED
Spread the Love

21st century belongs to the creators, the makers. It is change in the world which is needed. Thus, it becomes vital in today’s era to look into the aspect of Intellectual Property, which today, is ignored by many.

What is Intellectual Property?

Many may already have a certain impression of it. The one who makes music, the one who invents the machine, the one who writes a book, or even someone who brings out a unique idea, all own their work. And due to the same, certain rights arise for them. One cannot just copy these “original” works or even buy them without consideration. Whenever someone buys protected items, a part of the whole consideration goes to the owner, maker or the creator. Thus, the makers feel that their efforts are rewarded, and thus this has encouraged many people to come forward and invent things.

Various things such as discs, designs for objects, geographical indications, performances, images, companies names, broadcasts, logos, industrial processes, videos trademarks, chemical formulas, computer games, integrated circuits, materials, etc. This has encouraged more people to come forward with new inventions as they feel that the efforts they have put in are rewarded.

For a clear definition, let’s separate the words; Property generally means something that belongs to someone. The owner of the property has a complete right over it as long as it is lawful. Intellectual means something that relates to the human mind.

According to World Intellectual Property Organisation, 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.

Scientific, artistic, literary works, performances, broadcasts, inventions discoveries, trademarks, commercial names, industrial design and rights arising due to intellectual activity form a part of Intellectual property according to the Convention Establishing The World Intellectual Property Organisation[1]

The right to benefit from interests arising out literary, scientific and artistic works due to morality is enshrined under Universal Declaration of Human Rights – Article 27. Paris Convention for the Protection of Industrial Property (1883) and the Berne Convention for the Protection of Literary and Artistic Works (1886) are vital to the understanding of Intellectual Property.

Intellectual Property in Today’s Era

Intellectual property is broadly divided into two categories:

Industrial Property and Copyrights. Industrial Property covers aspects like geographical indications, trademarks, patents for inventions, and industrial designs while copyrights include literary and architectural works.

To conclude, Intellectual Property is beneficial as it recognises human efforts and creativity and also rewards them. It becomes vital for innovation; Its benefits extend to multinational firms, inventors and researchers as well as consumers. Intellectual Property is like a fuel for humanity which serves the mankind through various ways. Our society cannot flourish unless it is supported by innovations and inventions and it is Intellectual Property which supports them. If a well-established system of IP acts in a country, the same would lead to social and economic development. There would be harmony between the interests of the inventors and the general public.

References

[1] http://www.wipo.int/about-ip/en/

By Maahi Mayuri

Visit our Instagram page @lawyergyan at this link.

For more BLOG/ NEWs, CLICK HERE.

Please Subscribe for more updates.


Spread the Love

Leave a Reply