The economy of the 21st century places more importance on ideas. A brand logo, composition of a music, a piece of code used in a program, and an innovative product; all these are intellectual property (IP). Intellectual Property Rights (IPR) describe the legal rights of individuals and organizations to have protection on such intangibles. These rights grant authors with the exclusive control to own, use and commercialize their creations. Conceptually speaking, IPR aims at enabling individuals and companies to fully get the benefit of their innovations and creativities which is a vital role in any competitive economy that thrives on innovations.
The system of IPR in India changed dramatically in the wake of the independence of the country and in accordance with the TRIPS after 1995. The milestones are:
Patents Act, 1970 (Amended in 2005)
Trade Marks Act, 1999
Designs Act, 2000
Copyright Act, 1957
Geographical Indications of Goods Act, 1999
The Indian government now promotes IP culture via:
National IPR Policy (2016)
IPR awareness programs
IPR cells in universities
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