Why Value Intellectual Property?

The importance of intellectual property is reflected in everything around us and challenges old established ideas and concepts. In this
millennium, the international role of intellectual property will grow as a result of competing creations and innovations, new ideas in the
modern world and the efforts of developing countries to catch up with developed countries.

The importance of intellectual property lies in the fact that it regulates relations among nations, especially now that the economic,
political and social future of developing and developed countries has become closely interlinked.
An objective study of the significance of intellectual
property and progress made by nations through
innovation and creation would reveal outstanding
technology, abundance of information, flourishing
civilizations founded on modern methods, enriching
humanity with global achievements, enjoying freedom
of speech, and nations and governments learning
from lessons of the past, abiding by wise policies and
paying due attention to science and knowledge.
This is achieved when nations and governments work
together, contributing with financial and intellectual
resources to reveal the unknown and overcome
obstacles; their true wealth is constituted of valuable
traditional knowledge and results of scientific and
research activities.
Presenting an overview of IP rights in research sector,
S Ramamurthy, professor at Centre for Emerging
Technologies and adviser (IPR) at Jain University, said
that innovation is embedded in daily life. He told the
participants about the salient features of IP. “IP covers
the words we read, the images we see, the videos
we watch, and music we listen to. Most of them are
freely available to us. But their being free doesn’t
make them ours,” he said, and defined IP right as a
right that prevents people from copying others’ work.
“If you present others’ work or ideas as your own, it
will be considered plagiarism,” he said.
Other than this, an analysis of reported judgments
and orders in the field of intellectual property (IP)
from 1995 to May 2014. There were 2,157 reported
cases in 20 years and 1,433 decisions went in favor
of IP owners. This analysis is a myth buster for those
who says that INDIA is an ANTI – IP Country.

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 What’s The Scope?

Intellectual property law (IP) is a growing practice area that protects creations of the human mind. These creations include inventions
that qualify for patent protection; literary and artistic works such as books, plays, music and artwork; product names, slogans, logos and
packaging; symbols, names, images and designs used in commerce; and trade secrets.

In addition, at present what we see and what we hear almost everything is under Intellectual Property Law and has been copyrighted by
someone else. All the artistic work like books, music, movies, and any other piece of art is safe when it has its copyright. To make it safe
and secure artists copyright there art work. Apart from artistic work as scientific knowledge is getting vast and broad in today’s world as
compared to what it was in 20-30 years back and allowed a whole new chance to various new growing industries to arise in fields such as
biotechnology or nanotechnology, originators of such technology have sought IP protection for the new technologies.

Moreover, the protection is seen is in the relation
to copyright which is growing and increasing
like serial extension and growing rapidly with
the passing time.
The rise in the internet users across the world
from last decade and the growth of internet
gave birth to lots of challenge for copyright
policy. The Recording Industry Association of
America, in particular, has been on the front
lines of the fight against copyright violation,
which the industry calls “piracy”. The industry has had
victories against some services, including a highly
publicized case against the file-sharing companies,
and some people have been prosecuted for
sharing files in violation of copyright. The new
era of modernization has seen an increase in
violation of Copyright Act by doing piracy and
file sharing on internet. This can hinder legal
uses, affecting public domain works, limitations
and exceptions to copyright, or uses allowed by
the copyright holder.

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 What’s The Scope?
In the context of trademarks, it is a
legally validate symbol or identity
mark for an organization. It is a
unique symbol which a company has
andrecognized by it through all over
the world. There is not just one benefit
of trademark that it’s give a unique
identity to a particular company but
it’s a symbol of its reputation across
the globe. Registering a company’s
trademark is a license from which
it can do a business in its particular
domain. Trademark is a symbol
which differentiates it from other
competitors outside in the market.
This is to make sure that no other
company misuses its brand name
or reputation. As, there are lots of
threats in today’s world which can
spoil your name and reputation
overnight, When a company is
introduced to the market it’s not
essential that it will become a very
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famous one with it’s opening only,
but there are chances that they
can produce any revolutionary
product which can turn the game
on their side. But if the company
haven’t registered trademark other
company can market their product
under their trademark. Which not
only affect the profit of a firm but
it can make that company to get
disappear with no time from the
market. Also if a reputed company
has not registered its trademark
any other company can market
their products and services under
their trademark taking a shortcut
to get immense reputation from
some other’s work. Under current
law, a trademark is any distinctive
image associated with a product or
service. For instance, Apple has a
trademark of a picture of an apple.
When a customer walks through
the electronics section of a store,
they automatically recognize the
trademark of the Apple Company.
In today’s world and at the present
scenario basic economy boosters like
land, labor, and capital is not enough
to boost the economy growth of
any country. All these three factors
are of very little use if there will
be no creativity and
innovation. Creativity
and innovation are
the two major drivers
which can boost up
the economic growth of
the country. Globalization
of technology elevated the
importance of Intellectual
Rights (IP), especially for
those businesses which
want to protect their work,
innovations, ideas, methods
etc.
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 What’s The Scope?
As India is becoming a pioneer in outsourcing services. IP has taken
whole new place for the inventors in India. As India’s is growing
rapidly and one of the largest economies of the world, IP is a field
where India is growing and growing rapidly with the passing time.
The total revenue generated for the patent office (Kolkata, Delhi,
Mumbai & Chennai) during the year 2012-103 is estimated to
1,29,32,740.
Apart from this report of India government Mc Kinsey
report says (2007), “By 2015, patented products in
India are likely to capture 10% share of Indian market,
implying a market size of US $2 BILLION!”. A recent
research indicates that, at present only 3,800 professionals
are providing patent related services to US from India; but
by December 2015 there is going to be a significant increase
in this figure, which would further witness a rise of up to
30,000 by December 2015. The increase in number of
patent applications filed at IPO by industry sector, during
the last six years has been three folds. According
to Indian Patent Office (IPO), during 2009 – 2010
over 34,000 patent applications were filed at IPO.
Out of these Drugs and chemical industry contributed a decent
percentage (33%), Computer/Electronics industry recorded (23%),
and Mechanical industry (19%). Based on these statistics it can
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be concluded that Types of industries having good prospects in IP
are Biotechnology, Bioinformatics, Pharmaceuticals, Information
Technology, Telecommunication, Chemical, Mechanical, Textile,
Automobile, and Heavy Engineering. Career openings in the field
of IP can be directly attributed to the growth in certain areas like
IP related work outsource from US to India and patents filed by
industry sector in a year (both domestic and international).
All over the world a few million patents are filed
each year. In addition, there is the task of patent
maintenance, management, litigation and so on. All
this requires highly skilled technical and legal minds,
as several tens of billions dollars of business is involved.
While patent filing at the Indian patent office has seen a rise
of 23.97 per cent from 2007-08 to 2012-13, assessment
shows that only a meager 22 per cent of them have
been filed by Indian applicants in 2012-13. While 43,663
patents were filed in 2012-13, a majority or 78 per
cent were international applications.
These data shows how rapidly the IP industry is flourishing in India
and rapidly growing, It also indicating that the scope of IP industry
is growing and growing with a good pace.
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 Companies recruiting IP Professionals are as follows-

IP COMPANIES Effectual Services Lakshmikumaran & Sridharan

Ashmar IP De Penning & De Penning Rajeshwari & Associates
Inventree Lexterrae Consulting Pvt Ltd Singh & Singh Advocates
Brain League PatInt Solutions India Pvt. Ltd. Subramaniam, Nataraj & Associates
IIPTA Patentwire Indian Juris
Cheers Interactive Zen Technologies Limited John Mathew & Associates
International IP I –WIN IP services Inttladvocare
Dolcera Clairvolex IP Krishna & Saurastri Associates
Adhikari IPC MAS Juris Legal Consultants Lall Lahiri & Salhotra
Sagacious Research Sagacious Research Ramfry and Sagar
Patracode Services Private Limited John Mathew & Associates
TecEsq Knowledge Solutions Private Limited LAW FIRMS Khaitan and Partners
IDS – Legal Anand and Anand Khurana and Khurana
Echo Solutions Lex Orbis
Fox Mandal Remfry and Sagar

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 Companies recruiting IP Professionals are as follows-

LPO/ KPO Mylan Laboratories TIFAC Tata Motors

CPA Global Cadila Pharmaceuticals URDIP Microsoft
Evalueserve Aurobindo Pharma CSIR GE Global Research
Pangea 3 Dr. Reddy’s Laboratories Indian Patent Office Ford
Wipro LPO Sun Pharmaceutical TIFAC SAP Labs
Infosys LPO Jubliant Lifesciences Indian Oil Limited Adobe Systems India
Promax Legal Natco Pharma CCMB Nokia
Thomson Reuters Biocon IIT – Technology Transfer Cell Mercedes Benz
WNS - Global Nectar Lifesciences CII IBM Corporation
Glenmark Generics Limited
LIFE-SCIENCE COMPANIES Indian Institute of Biotechnology ENGINEERING COMPANIES
Novartis Nokia
Ranbaxy GOVERNMENT Motorola
Panacea Biotech BCIL Tata Steel

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