Legal and Tax Aspect of Business

INTELLECTUAL PROPERTY RIGHTS

Group MembersAkshay Gharge - 08 Vishal Joshi – 17Amir Mulani – 27

Yogesh Prajapati – 34Yogesh Salve – 38Roshan Sohani - 45Sandeep Yadav - 52

What is intellectual property?• Intellectual property refers to creations of mind

• inventions; • literary and artistic works; • symbols, names and images used in commerce

• It is general assignments of property rights through patents, copyrights, and trademarks

• It allows user to have monopoly on usage of items for specific period• Outlined in Article 27 of Universal declaration of Human Rights

Why Intellectual Property Rights?

The progress and well-being of humanity 

Encourages the commitment of 

additional resources for further innovation

Spurs economic growth, creates new jobs and industries, 

and enhances the quality and 

enjoyment of life

Patents

Trademarks 

Copyrights

Intellectual

Property

Types of IP Protection

Patents....• a government authority or license conferring a right or

title for a set period, especially the sole right to exclude others from making, using, or selling an invention.

• It is granted for limited period for 20 years• What kind of inventions can be patented?

It must be of practical use

It must show an element of

novelty

Must show an “inventive

step”

Its subject matter must be

accepted as “patentable”

under law

Patents in India• The Patents Act, 1970 as amended by Patents (Amendment), 2005• Patent offices are located in Kolkata, Mumbai, Chennai & Delhi• Patent information systems (PIS) and Intellectual property and training institute (IPTI), Nagpur

Trademarks.....• A trade mark is a sign that you can use to distinguish your

business' goods or services from those of other traders. • It can be represented graphically in the form of company's logo

or a signature• This helps consumers to identify and purchase a product or

service based on whether its specific characteristics and quality• Term : 10 years and renewable 

Copyright.....• the exclusive and assignable legal right, given to the originator

for a fixed number of years, to print, publish, perform, film, or record literary, artistic, or musical material.

• It gives exclusive right to use or authorize others to use the work on agreed terms

• In India, The Copyright Act, 1957 amended in 1983, 1984, 1992, 1994 & 1999 is available 

WIPO (World intellectual property organization)• Established in 1970, • To ensure that the rights of creators and owners of intellectual property are protected worldwide, and that inventors and authors are therefore recognized and rewarded for their ingenuity.

• Funding – • Contribution by member states (currently 189 member states)• Self financing 

Bratz Dolls vs. Barbie• In 2008, Barbie was finally declared the winner in the long-running intellectual property rights battle between Mattel, Inc. and MGA Entertainment Inc., the makers of Barbie dolls and Bratz dolls, respectively. In the lawsuit, Mattel sued MGA claiming that MGA stole the concept and the name of the Bratz doll from them.

• Carter Bryant, designer of the Bratz doll, was an employee of Mattel, but also working as a consultant for MGA when he designed the doll. A few years after MGA began selling Bratz, Mattel sued both Bryant and MGA alleging copyright infringement. Because Bryant was on the Mattel payroll when he created the doll, the Bratz name and design are considered trade secrets. The courts sided with Mattel and ordered MGA to pay $100 million in damages.

ConclusionIPR reward creativity and human endeavor which fuel the progress of humankind

Understanding the country's IP rights following the best practices can drastically reduce the risk of losing company’s intellectual property 

References • http://www.wipo.int/edocs/pubdocs/en/intproperty/450/wipo_pub_450.pdf 

• https://www.legalzoom.com/articles/top-5-intellectual-property-disputes ( Bratz Dolls vs. Barbie )

• http://www.slideshare.net/Anip12/intellectual-property-rights-32427923?qid=80dace3e-0090-4688-ac99-183dd3e1fef1&v=&b=&from_search=4 

• http://www.slideshare.net/NirmalRam2/intellectual-property-rights-71965109?qid=80dace3e-0090-4688-ac99-183dd3e1fef1&v=&b=&from_search=6 

Thank You!