Intellectual Property rights allow innovative entrepreneurs to protect their inventions. They play a critical role in helping new ventures transform their innovation potential and creativity into market value and competitiveness. It can also create obstacles to the development of entrepreneurial ideas and hamper knowledge diffusion and innovation. It refers to the general term for the assignment of property rights through patents, copyrights, trademarks, industrial designs, trade secret and geographical indication. These property rights allow the holder to exercise a monopoly on the use of the item for a specified period.
We at Sparky bizconnect, understand and appreciate the due importance of intellectual property rights and therefore have a dedicated team for it, who have drafted numerous IPR’s and improved their skills with experienced and renounced drafters
Copyright refers to the legal right of the owner of intellectual property. In simpler terms, copyright is the right to copy. This means that the original creator of a product and anyone he gives authorization to are the only ones with the exclusive right to reproduce the work. The rights provided under Copyright law include the rights of reproduction of the work, communication of the work to the public, adaptation of the work and translation of the work.
The object of patent law is to encourage scientific research, new technology and industrial progress. 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.
A trademark is typically a name, word, phrase, logo, symbol, design, image, or a combination of these elements. The trademark can be applied by anyone who uses or proposes to use the brand name, mark, or logo for commercial purpose. A trademark cannot be offensive. Trademarks can also be licensed to other companies for an agreed-upon period of time or under certain conditions, which can result in crossover brands.
Industrial designs refer to creative activity which results in the ornamental or formal appearance of a product. In principle, the owner of a registered industrial has the right to prevent third parties from making, selling or importing articles, design which is a copy of the protected design. The creative act of determining and defining a product takes place in advance of the physical act of making a product.
A geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. In order to function as a geographical indication, a sign must identify a product as originating in a given place. In addition, the qualities, characteristics or reputation of the product should be essentially due to the place of origin.