Intellectual Property and Intellectual Property Kights (IPRs) are increasingly important to today’s knowledge-based economy. An Intellectual Property system is one of the best ways of protecting, and thereby preserving, human creativity. The emergence of new technologies creates educational. social, economic and cultural opportunities for people to put ideas to work in innovative ways that increase productivities and create employment and wealth. The protection of Intellectual Property Rights has become a core issuc in scientific and economic development, the protection of traditional knowledge and scientific and economic cooperation at national and international levels.
Adequate protection of Intellectual Property plays an important role in stimulating new technological development, artistic expression and knowledge dissemination, all of which are vital to knowledge-based economy.
The knowledge of Intellectual Property laws is one of the basic requirements for the development of a knowledge-based economy. Now-a-days, a major part of most successful companies assets are in the intangible form.
Therefore, it is very essential for them to have adequately trained personnel to manage, grow and preserve these assets and to utilize these in an optimum manner. Unfortunately, in India the awareness in respect to exploitation of Intellectual Property is not satisfactory. Our engineers, scientists, researchers, managers, entrepreneurs, academicians, persons engaged in legal business, etc. are, to a greater extent, ignorant about Intellectual Property Rights, its advantages and protection thereof. In the era of globlization and especially post-fRIPs regime, it is not possible for organizations to retain the competitive edge without taking steps to protect their Intellectual Property. The Intellectual Property education is needed not only to develop, protect, and exploit the commercial potential of intellectual creations, it is a core business tool which plays an important role in formulating business strategies, making alliances and partnerships, and taking product development decisions.
Intellectual Property is essentially the creation of human mind and intellect and Intellectual Property Rights laws aimed at safeguarding authors (creators) and other producers of intellectual goods or/ and services by granting them certain time-limited rights to control the use made of those productions.
Traditionally, Intellectual Property is classified into two groups :
Group I-Industrial Property
Industrial property includes :
(1) Patents,
(2) Industrial designs,
(3) Trade marks and service marks.
Group II-Copyrights
Copyright broadly includes the following classes of works :
(i) Original literary, dramatic, musical and artistic works, (ii) Cinematographic films, and (iii) Sound recording.
Computer programmes/software are covered within the definition of
literary work.
The rights provided by copyright apply to authors, ‘related rights’, also known as “neighbouring rights” concern other categories of owners of rights. namely, performers, the producers of phonograms and broadcasting organizations in relation to their performances, phonograms and broadcasts respectively.
Article 2 (viti) of the Convention establishing the World Intellectual Property Organisation (WIPO) concluded in Stockholm on July 14, 1967, provides that “Intellectual Property” shall include rights relating to-
1. Literary, artistic and scientific works,
2. Performances of performing artists, phonograms and broadcasts,
3. Inventions in all fields of human endeavour,
4. Scientific discoveries,
5. Industrial designs,
6. Trade marks, service marks, and commercial names and designations, and
7. Protection against unfair competition and all other rights resulting from intellectual activity in the industrial, scientific, literary and artistic fields.
Intellectual Property is an asset like other forms of tangible property. The striking feature of Intellectual Property is that it is incorporeal or intangible property, that is, it cannot be defined or identified by its own physical parameters. Like other forms of tangible property it can be sold, bought, assigned, licensed, mortgaged or transmitted by operation of law.
It is a useful book for students of law, commerce and economics, academics, lawyers, researchers, entrepreneurs and other persons who would like to obtain information on IPRs protection. The book covers some of the Acts, i.e., the Copyright Act, 1957; the Patents Act, 1970; the Designs Act, 2000; the Trade Marks Act, 1999, and the Geographical Indication of Goods (Regulation and Protection) Act, 1999.