Q1.

Theories of IPR
The intellectual property rights function with the underlying principle of protecting the
products of human intellect in the same way physical properties are safeguarded.
The theories of intellectual property rights play a definite role in making someone
understand the rights offered and the reason behind the same. The five theories are
as follows:
1. Natural Right Theory
The term “natural right” signifies a fundamental right that a person has in his
possession. The natural rights theory takes into consideration that everyone has a
natural property right on his, or her ideas. This is because creation is the result of
both labour, and creativity of the person putting it into effect. Drawing its roots from
John Locke’s philosophy that says an author has a natural right over the output of
his, or her intellectual endeavours, the natural rights theory is applicable to both
tangible and intangible properties. The extension of this theory incorporates the right
to use or to exclude others from use and the right to transfer the object owned. Thus
to conclude, the natural rights theory encourages innovation by an individual, on one
hand, it restricts the others from the same, when it comes to an idea. 
2. Utilitarian Theory
The utilitarian theory walks in the footsteps of Jeremy Bentham, and John Stuart Mill
who focused on the “greatest good for the greatest number”. While the term
“utilitarian” signifies “social welfare”, the theory essentially is based on the fact that
industrial progress and cultural goods together can promote a better and significant
economic impact on the society, and the people at large. When it comes to
intellectual property rights, the theory calls for a need to encourage innovation and
creations. The utilitarian theory is also known as the incentive theory because the
theory endorses society’s duty to respect the innovator’s right to ownership on
his/her creation which is not only a source of profit for the creator himself/herself but
the society as a whole. The main criticism of this theory is that the utility gains from
the impetus of a unique creation are neutralized against the losses incurred due to
exclusive ownership of the creation.
3. Deterrence theory
The deterrence theory promotes morality, virtue, and illicit commercial behaviour.
The deterrence theory draws its roots from the fact opposed by the utilitarian theory
which does not accept deterrence in the process of drawing benefit from innovation
for the entire society. It is the trade secret laws that behave as a hindrance to unfair
marketing and therefore, becomes the essence behind the deterrence theory. The
term “deterrence” signifies discouragement. The theory discourages
misappropriation of a creation, information, etc as the secrecy of the same is focused
in this theory.
4. The ethic and reward theory 
As the name itself suggests, the ethic and reward theory provides a justification of
the exclusive rights that are provided to the original owner of innovation by the
intellectual property rights. These sets of exclusive rights are considered as an
expression of appreciation to the creator for his or her immense contribution to
society by his or her creation. The term “ethic” signifies “fairness” whereas the term
“reward” symbolises “validation of the efforts contributed in a particular thing”.  Put
simply, the ethics and reward theory throws light on the fact that a creator must be
rewarded for the creation and in doing so the ethics behind intellectual property
rights will be realized.
5. The personhood theory 
The personhood theory provides that it is the creator’s creation that builds his or her
personality thereby clarifying an individual’s personality is inherent to his or her
property right. The theory draws its roots from Hegel’s philosophy, which provides
that intellectual property rights are also associated with safeguarding personality
development that extends to material things. In this way, the theory remarked that an
unauthorized user who offers to the general public someone’s creation without prior
consent will be considered a thief.
The theory brings along its criticism which is linked to the underlying principle of the
theory which relates personality with creativity. This justification is ipso facto deficient
as personality cannot be said to have been linked with the outcome of someone’s
creation. Though this is one side of the coin, the other side of the coin says that even
if the creation is independent of its creator, it is very much dependent on the public. It
is from the public that the work gains substance and importance. 

Q2 Novelty and invention in patent

The concept of novelty in patent law embodies the principle that only truly new
inventions deserve patent protection. Novelty means "new compared to prior art"; it
states the requirement that, to be patentable, an invention must somehow be
different from all published articles, known techniques, and marketed products. At
the time of filing of the application for a patent the invention must not already have
been made available to the public. An invention is finding out something which has
not been found by others. A patent represents a quid pro quo. The patentee as a
result obtains a monopoly over his invention.

Whether an invention is a "new invention" (possesses novelty) in India is determined

against the definition assigned under s 2(1)(l) of the Indian Patents Act 1970 ("the
Act"), which states that "new invention" means any invention or technology which
has not been anticipated by publication in any document or used in the country or
elsewhere in the world before the date of the filing of the application with complete
specification, i.e. the subject matter has not fallen in the public domain or form part of
the state of art.

Novelty is requirement for a patent claim to be patentable. In contrast, if an invention

was known to the public before filing a patent application, or before its date
of priority.
In simple terms, a patent application is patentable only if it has novelty (newness),
inventiveness, and is capable of being made or used in an industry. Once the
invention meets the novelty (or newness) requirement, which is an absolute must,
the next challenge is to show inventiveness in the invention.

The fundamental principle of patent law is that a patent is granted only for an
invention which must have novelty and utility. It is essential for the validity of a patent
that it must be the inventor's own discovery as opposed to mere verification of what
was, already known before the date of the patent.
It is a well-known fact that mere ideas do not provide patent protection. The
principles of patent law state that ideas and discoveries cannot be so patented. It
does not form part of state-of-the-art technology or technique. Only the practical
application of ideas and discoveries leads to patentability. As is often the case, the
actual application of the discovery, if any, is patentable. The ability to use discoveries
and ideas to convey how they can be used meaningfully can lead to patentable
inventions.
Lack of novelty is commonly referred to as “anticipation” and is determined by factors
such as previous publications, commercialized products, published names and
usages, and selected inventions. The term anticipation is not defined under the
Patent Act but there are sections (S. 29 to 34) under Patent Act that helps us in
identifying what anticipation is not.

Q3 IPR benefits

There are five major advantages of intellectual property rights. They are as under:

 IPRs can help turn your ideas into money-makers

Every little or big idea you have, can prove invaluable if it is executed
correctly. This simply means that your intellectual property can help you
convert your ideas into products and services which are commercially
successful. You can use your intellectual property to create a business on
your own, pitch it to investors and start a business or even get it licensed,
enabling you to sell it to various businesses in exchange for a steady stream
of income. An IPR can be converted into an asset and can help turn your idea
into a huge money-maker.

 IPRs can enhance your business’ market value

One of the greatest advantages of protecting intellectual property is that it can
generate income for your business in many ways. You could license your IP
and lend it to various businesses in exchange for a fixed income or
reasonable royalties. You could also reap benefits from selling your IP
products and services for a fixed amount. Selling your IP can raise your profits
and even improve your market share. Also, in case you sell your company or
enter an acquisition or merger with another, registered and protected
intellectual property assets can significantly enhance your business’ value.
  IPRs can help you stand out from the competition
Customers are always looking for something new and exciting. Every
company aspires to be the first one to offer a breakthrough product to
customers. If you wish to create a certain image for your business then IPs
are absolutely essential. Remember, customers associate a certain value with
their favourite brands. This is where factors like goodwill, trademarks, designs
and logos come into the picture. Customers recognize brands from these
factors and IPRs helps businesses differentiate their products and services
within a market, while promoting them to its target customers.

 IPRs can be accessed to raise finances

Another benefit of intellectual property ownership is that you can easily
monetize your IP assets when you need to raise funds. You could choose to
sell the IP, license it, or even use it as collateral while taking on a debt. Also,
the government of India has created several laws that allow IP owners to use
their IPs to their advantage while applying for any government or public
funding including loans, subsidies and grants.

 IPRs can enhance opportunities related to exports in business

IPRs give you the freedom to tread into the export business as well. There is
no law that states that IPs need to be protected and can be used to benefit
one within specific borders. With the help of IPRs you can use your designs
and brands to market your products and services in foreign lands as well, thus
improving your export prospects. You can seek franchising agreements with
foreign companies and even export patented products.

In 1485 the first system of protection of intellectual property came in the form on
Venetian Ordinance historically. In England in 1623 it was followed by Statue of
Monopolies, which extended rights of patents for Technology Inventions.
The 1st legislation in India relating to patents was the Act VI of 1856. The objective
was to encourage inventions and to induce inventors to disclose secret of their
inventions. Later, to grant exclusive privilege, a fresh legislation was introduced as
Act XV of 1859. However, in 1872, the act was renamed as The Patterns and
Designs Protection Act. The act remained in force for 30 years with only 1
amendment in the year 1883.

The Indian Patents and Design Act replaced all the previous laws in India. In this act,
provisions relating to grant of secret patents, patent of addition, and increase of term
of patent from 14 years to 16 years were made. Later, after independence, various
committees were made to examine the revisions in the law and thus a bill was
introduced in the Lok Sabha in 1965 which however lapsed. Though it lapsed in
1965, in 1967, an amended bill was introduced and then on the final
recommendation of the committee, the Patents Act, 1970 was passed which is
presently used in India.