2ANNA UNIVERSITY CHENNAI
An industrial design right protects the form of appearance, style or design of an industrialobject from infringement. A trade secret is an item of non-public information concerningthe commercial practices or proprietary knowledge of a business. Public disclosure of trade secrets may sometimes be illegal.
After reading this chapter, you will be able to understand:
Introduction, Invention and Creativity to Intellectual Property Rights
Basic types of Intellectual property and its forms
Importance and protection of Intellectual Property Rights
An Overview of Intellectual Property Rights (IPR), Patents, Industrial Designs,Plant Varieties, copyrights, Trademarks, Geographical Indications.
1.3 IMPORTANCE- PROTECTION OF IPR
Intellectual property plays an important role in an increasingly broad range of areas,ranging from the Internet to healthcare to nearly all aspects of science and technology andliterature and the arts. Understanding the role of intellectual property in these areas manyof them still emerging often requires significant new research and study. To promote informeddiscussion of the intellectual property, education and awareness in this field is important. Today, possession of land, labor and capital are just not enough for a country tosucceed. Creativity and innovation are the new drivers of the world economy. The policiesadopted by a country shall determine the nations well being and further as to how it isdeveloping the trapped intellectual capital. An effective intellectual property system is thefoundation of such a strategy. Within knowledge-based, innovation-driven economies, theintellectual property system is a dynamic tool for wealth creation providing an incentive forenterprises and individuals to create and innovate; a fertile setting for the development of,and trade in, intellectual assets; and a stable environment for domestic and foreign investment.
1.4 IMPORTANCE OF INTELLECTUAL PROPERTY
Intellectual property protection is the key factor for economic growth and advancementin the high technology sector. They are good for business, benefit the public at large andact as catalysts for technical progress. Whether IPRs are a good or bad thing, the developedworld has come to an accommodation with them over a long period. Even if theirdisadvantages sometimes outweigh their advantages, by and large the developed worldhas the national economic strength and established legal mechanisms to overcome theproblems so caused. Insofar as their benefits outweigh their disadvantages, the developedworld has the wealth and infrastructure to take advantage of the opportunities provided. Itis likely that neither of these holds true for developing and least developed countries.(Extracts from Report on Commission on IPR London September 2002).