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INTELLECTUAL PROPERTY

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• Intellectual property (IP) is a term referring to a number of distinct types of creations of the mind for which property rights are recognized.

• Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs.

• Common types of intellectual property include copyrights, trademarks, patents, industrial design rights and trade secrets in some jurisdictions.



• Out of eight rounds of multi lateral trade negotiations under GATT, the first six rounds concentrated almost exclusively on reducing tariffs while the seventh i.e., Tokyo Round, focused on non-tariff barriers, apart from tariff reduction.

• The eight round known as the Uruguay Round, in terms of coverage was the most extensive as well as ambitious.

• It took GATT into areas which are not within the traditional preserve. These include services. TRIPS, TRIMS and focused on agriculture also.



• The Agreement on Trade – Related Aspects of Intellectual Property Rights (TRIPS) provides for minimum norms and standards in respect of the following categories of intellectual property rights –

(a) Copyrights and related rights-

Copyright is the exclusive right given by law to the creators of literacy, musical and artistic worlds, films and records. The creators of literacy works and artistic works such as writer, poets, composers of music and artists have rights of ownership of their works



b) Trademarks-• Trade mark is an identification symbol which is

used in the course of trade to enable the purchasing public to distinguish one trader’s goods from similar goods of other traders.

• The word “Mark” includes a device, brand, heading, label, ticket, name, signature, word, letter or numeral or any combination thereof.

• A trade mark performs three functions – it identifies the product and its origin, it guarantees its unchanged quality and it helps in advertisement of the product.



(c) Geographical Indications-• Certain geographical names have acquired a lot of

importance in the commercial market, particularly with regard to the goods uniquely associated with such names.

• Traders attach considerable value to the public recognizing the source, particularly the place of origin of the goods, especially when the name of that place is taken as a synonym necessarily after long and continuous use, for some special quality associated with the product originating from that place.

Example are: Darjeeling tea, Kanjeevaram silk, etc



d) Industrial Designs-• Consumers are influenced by the appearance

of the article in their choice. • Many people blindly choose the article which

catches their eye by appearance. • At the time of purchase, people are attracted

by a design which has an artistic merit. • Some articles with a particular design may

attract the public and within a short period, the whole stock may be sold in the market. Hence, design of goods increases profits by attracting customers



(e) Patents-• A patent is a legal monopoly granted to the

owner of a new invention which is capable of use, for a limited period of time.

• It is a statutory privilege granted by the Government to inventors



f) Lay out designs of integrated circuits-• All the modern products are having transistors

and other circuitry elements which are inseparably formed on a semiconductor material and these semiconductors are intended to perform an electronic function.

• Layout designs of integrated circuits are considered as intellectual property. Infringement of these layout designs is punishable.



g) Protection of undisclosed information (trade secrets)

• People in business, trade and manufacture prepare to keep the information relating to their financial management, inventive administrative procedures which contribute to efficiency in production and value addition undisclosed.

• The disclosure of such information might help his competitors and predators of knowledge.

• Secrecy and a belief in its efficiency and utility are the factors which make the information undisclosed



• The TRIPS Agreement, which came into effect on 1 January 1995, is to date the most comprehensive multilateral agreement on intellectual property.

• The three main features of the Agreement are-– Standards– Enforcement– Dispute Settlement
