MVSR Engineering College

BE, SEM - VII

START-UP ENTREPRENEURSHIP

Unit-IV
Intellectual Property Rights: Meaning, Nature, Classification and protection of Intellectual
Property, the main forms of Intellectual Property, Concept of Patent, Patent document,
Invention protection, Granting of patent, Rights of a patent, Licensing, Transfer of
technology

Introduction to Intellectual Property Rights

Intellectual Property (IP) deals with any basic construction of human intelligence such as artistic,
literary, technical or scientific constructions. Intellectual Property Rights (IPR) refers to the legal
rights granted to the inventor or manufacturer to protect their invention or manufacture product.
These legal rights confer an exclusive right on the inventor/manufacturer or its operator who
makes full use of it’s his invention/product for a limited period of time.

The legal rights prohibit all others from using the Intellectual Property for commercial purposes
without the prior consent of the IP rights holder. IP rights include trade secrets, patents,
trademarks, geographical indications, industrial design, copyright and related rights. It is very
well settled that IP plays an important role in the modern economy.

There are many types of intellectual property protection. A patent is recognition for an invention
that satisfies the criteria of global innovation, and industrial application. IPR is essential for
better identification, planning, commercialization, rendering, and thus the preservation of
inventions or creativity. Each industry should develop its specialty based on its IPR policies,
management style, strategies, and so on. Currently, the pharmaceutical industry has an emerging
IPR strategy, which needs better focus and outlook in the coming era.

IPR is a strong tool, to protect the investment, time, money, and effort invested by the
inventor/creator of the IP, as it gives the inventor/creator an exclusive right for a certain period
of time for the use of its invention/creation. Thus, IPR affects the economic development of a
country by promoting healthy competition and encouraging industrial growth and economic
growth.

Definition of Meaning of Intellectual Property (IP)

Intellectual Property can be defined as inventions of the mind, innovations, literary and artistic
work, symbols, names and images used in commerce. The objective of intellectual property

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protection is to encourage the creativity of the human mind for the benefit of all and to ensure
that the benefits arising from exploiting a creation benefit the creator. This will encourage
creative activity and give investors a reasonable return on their investment in research and
development.

IP empowers individuals, enterprises, or other entities to exclude others from the use of their
creations. Intellectual Property empowers individuals, enterprises, or other entities to exclude
others from the use of their creations without their consent.

According to Article 2 of the WIPO (World Intellectual Property Organization) – Central

Organization for the protection of Intellectual Property Laws and the expert organization of the
UN, ”Intellectual Property shall include the rights relating to literary, artistic and scientific
works, inventions in all fields of human endeavor, scientific discoveries, industrial designs,
trademarks, service marks and commercial names and designations, protection against unfair
competition, and all the other rights resulting from intellectual activity in the industrial,
scientific, literary or scientific fields.”

Meaning of intellectual property rights

The intellectual property right is a kind of legal right that protects a person’s artistic works,
literary works, inventions or discoveries or a symbol or design for a specific period of time.
Intellectual property owners are given certain rights by which they can enjoy their Property
without any disturbances and prevent others from using them, although these rights are also
called monopoly rights of exploitation, they are limited in geographical range, time and scope.

As a result, intellectual property rights can have a direct and substantial impact on industry and
business, as the owners of IPRs one can enforce such rights and can stop the manufacture, use, or
sale of a product to the public. IP protection encourages publication, distribution, and disclosure
of the creation to the public, rather than keeping it a secret and to encourage commercial
enterprises to select creative works for exploitation.

Nature of intellectual Property

• Intangible Rights over Tangible Property: The main Property that distinguishes IP from
other forms of Property is its intangibility. While there are many important differences
between different forms of IP, one factor they share is that they establish property
protection over intangible things such as ideas, inventions, signs and information whereas
intangible assets and close relationships are a tangible object. In which they are
embedded. It allows creators or owners to benefit from their works when they are used
commercially.

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• Rightto sue: In the language of the law, IP is an asset that can be owned and dealt with.
Most forms of IP are contested in rights of action that are enforced only by legal action
and by those who have rights. IP is a property right and can, therefore, be inherited,
bought, gifted, sold, licensed, entrusted or pledged. The holder of an IPR owner has a
type of Property that he can use the way he likes subject to certain conditions and takes
legal action against the person who without his consent used his invention and can
receive compensation against real Property.
• Rightsand Duties: IP gives rise not only to property rights but also duties. The owner of
the IP has the right to perform certain functions in relation to his work/product. He has
the exclusive right to produce the work, make copies of the work, market work, etc.
There is also a negative right to prevent third parties from exercising their statutory
rights.
• Coexistence of different rights: Different types of IPRs can co-exist in relation to a
particular function. For example, an invention may be patented, and the invention
photograph may be copyrighted. A design can be protected under the Design Act, and
the design can also be incorporated into a trademark. There are many similarities and
differences between the various rights that can exist together in IP. For example, there
are common grounds between patent and industrial design; Copyright and neighboring
rights, trademarks and geographical indications, and so on. Some intellectual property
rights are positive rights; the rest of them are negative rights.
• Exhaustion of rights: Intellectual property rights are generally subject to the doctrine of
exhaustion. Exhaustion basically means that after the first sale by the right holder or by
its exhaustion authority, his right ceases and he is not entitled to stop further movement
of the goods. Thus, once an IP rights holder has sold a physical product to which IPRs
are attached, it cannot prevent subsequent resale of that product. The right terminates
with the first consent. This principle is based on the concept of free movement of
goods which is in force by consent or right of the rights holder. The exclusive right to
sell goods cannot be exercised twice in relation to the same goods. The right to restrict
further movements has expired as the right holder has already earned his share by the
act of placing goods for the first sale in the market.
• Dynamism: IPR is in the process of continuous development. As technology is rapidly
evolving in all areas of human activities, the field of IP is also growing. As per the
requirement of scientific and technological progress, new items are being added to the
scope of IPR, and the scope of its preservation is being expanded. Bio Patents,
Software Copyrights, Plant Diversity Protection, these are few names which reflect
contemporary developments in the field of IPR. The importance of intellectual
property and its mobility is well established and reflected at all levels, including
statutory, administrative and judicial.

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 The Importance of Intellectual Property Rights

Intellectual property rights are a common type of legal IP protection for those who create. These
rights, however, have actually contributed enormously to the world, in particular economically.

Many companies in a variety of industries rely on the enforcement of their patents, trademarks,
and copyrights, while consumers can also be assured of quality when they purchasing IP-backed
products.

The purpose of intellectual property rights is to encourage new creations, including technology,
artwork, and inventions, that might increase economic growth. Intellectual property rights
increase the incentives for individuals to continue to produce things that further create job
opportunities and new technologies, while enabling world to improve and evolve even faster.

According to The U.S. Chamber of Commerce’s Global Innovation Policy Center:

• Intellectual Property Creates and Supports High-Paying Jobs

IP-intensive industries employ over 45 million Americans and hundreds of millions of other
people worldwide. The average worker in an IP-industry also earns about 46% more than his or
her counterpart in a non-IP industry.

• Intellectual Property Drives Economic Growth and Competitiveness

America’s IP is worth approximately US$6.6 trillion, which is more than the nominal GDP of
any other country in the world. IP-intensive industries account for over 1/3– or 38.2%– of total
U.S. GDP. 52% of all U.S. merchandise exports are related to IP, and this amounts to nearly
US$842 billion.

Scope of Intellectual Property

The scope of IP rights is broad; two classification modes are used to determine whether IP is
copyright or Industrial Property. Industrial properties include patents or inventions, trademarks,
trade names, biodiversity, plant breeding rights and other commercial interests. A patent gives its
holder the exclusive right to use the Intellectual Property for the purposes of making money from
the invention.

An invention is itself a new creation, process, machine or manufacture. Having copyright does
not give you the exclusive right to an idea, but it protects the expression of ideas that are
different from a patent. Copyright covers many fields, from art and literature to scientific works
and software.

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Even music and audio-visual works are covered by copyright laws. The duration of copyright
protection exists 60 years after the death of the creator. In other words, an author’s book is
copyrighted for his entire life and then 60 years after his death. Unlike patent laws, there is no
requirement of the administrative process in copyright laws.

Why promote and protect Intellectual Property?

There are several reasons for promoting and protecting intellectual property. Some of them are:

1. Progress and the good of humanity remain in the ability to create and invent new
works in the field of technology and culture.
2. IP protection encourages publication, distribution, and disclosure of the creation to the
public, rather than keeping it a secret.
3. Promotion and protection of intellectual Property promote economic development,
generates new jobs and industries, and improves the quality of life.
Intellectual Property helps in balancing between the innovator’s interests and public interest,
provide an environment where innovation, creativity and invention can flourish and benefit all.

Forms of Intellectual Property

Intellectual property is the backbone of the corporate world. Possession of rights over
intellectual property allows for several advantages such as growth in market share, profit
making, leveraging etc. They are necessary in today’s world to maintain creativity and
growth. The Cambridge Dictionary defines intellectual property as “someone’s idea,
invention, creation etc. that can be protected by law from being copied by someone else”.
These are legal rights that allow exploitation of one’s creation.

The basis of intellectual property rights is that whosoever came up with the idea or invention
or creation should have sole control over its use since it is his hard work. They recognize the
commercial value of these rights. Intellectual property rights in India are guaranteed are Acts
such as Patent Act, 1970, Trademarks Act, 1999, Indian Copyright Act, 1957 and Designs
Act, 2000. These Acts provide protection to the author or inventor or owner of the
intellectual property and allow for remedies in case of his work being reproduced without his
permission

The subject of intellectual property is very broad. There are many different forms of rights that
together make up intellectual property. IP can be basically divided into two categories, that is,
industrial Property and intellectual property. Traditionally, many IPRs were collectively known
as industrial assets.

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It mainly consisted of patents, trademarks, and designs. Now, the protection of industrial
property extends to utility models, service marks, trade names, passes, signs of source or origin,
including geographical indications, and the suppression of unfair competition. It can be said that
the term ‘industrial property” is the predecessor of ‘intellectual property”.

i. Copyright
ii. Patents
iii. Licensing
iv. Trademark
v. Industrial design
vi. Design rights
vii. Trade Secrets
viii. Transfer of Technology

i. Copyright

Copyright protects artistic expressions like music, films, plays, photos, artwork, works of
architecture and other creative works. The term “creative works” is defined very broadly for
copyright purposes, such that copyright may be used to protect functional texts such as user
guides and product packaging as well as works of art.

Copyright law deals with the protection and exploitation of the expression of ideas in a tangible
form. Copyright has evolved over many centuries with respect to changing ideas about creativity
and new means of communication and media. In the modern world, the law of copyright
provides not only a legal framework for the protection of the traditional beneficiaries of
copyright, the individual writer, composer or artist, but also the publication required for the
creation of work by major cultural industries, film; Broadcast and recording industry; And
computer and software industries.

It resides in literary, dramatic, musical and artistic works in ”original’ cinematic films, and in
sound recordings set in a concrete medium. To be protected as the copyright, the idea must be
expressed in original form. Copyright acknowledges both the economic and moral rights of the
owner. The right to copyright is, by the principle of fair use, a privilege for others, without the
copyright owner’s permission to use copyrighted material. By the application of the doctrine of
fair use, the law of copyright balances private and public interests.

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 ii. Patent

Concept of Patent
An invention is a new solution to a technical problem and can be protected through Patents
protect the interests of inventors whose technologies are truly groundbreaking and commercially
successful, by ensuring that an inventor can control the commercial use of their invention.

Patent law recognizes the exclusive right of a patent holder to derive commercial benefits from
his invention. A patent is a special right granted to the owner of an invention to the manufacture,
use, and markets the invention, provided that the invention meets certain conditions laid down in
law. Exclusive right means that no person can manufacture, use, or market an invention without
the consent of the patent holder. This exclusive right to patent is for a limited time only.

An individual or company that holds a patent has the right to prevent others from making,
selling, retailing, or importing that technology. This creates opportunities for inventors to sell,
trade or license their patented technologies with others who may want to use them.

The criteria that need to be satisfied to obtain a patent are set out in N and may differ from one
country to another. But generally, to obtain a patent an inventor needs to demonstrate that their
technology is new (novel), useful and not obvious to someone working in the related field. To
do this, they are required to describe how their technology works and what it can do.

A patent can last up to 20 years, but the patent holder usually has to pay certain fees periodically
throughout that 20-year period for the patent to remain valid. In practice, this means that if a
technology has limited commercial value, the patent holder may decide to abandon the patent, at
which point the technology falls into the public domain and may be freely used.

To qualify for patent protection, an invention must fall within the scope of the patentable subject
and satisfy the three statutory requirements of innovation, inventive step, and industrial
application. As long as the patent applicant is the first to invent the claimed invention, the
novelty and necessity are by and large satisfied. Novelty can be inferred by prior publication or
prior use. Mere discovery ‘can’t be considered as an invention. Patents are not allowed for any
idea or principle.

The purpose of patent law is to encourage scientific research, new technology, and industrial
progress. The economic value of patent information is that it provides technical information to
the industry that can be used for commercial purposes. If there is no protection, then there may
be enough incentive to take a free ride at another person’s investment. This ability of free-riding
reduces the incentive to invent something new because the inventor may not feel motivated to
invent due to lack of incentives.

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 Patent Document
Patent information is the name we give to the technical information you find in patent
documents, plus legal and business-relevant information about them.

Patent documents consist of:

• a first page comprising basic information, such as the title of the invention and the name of the
inventor
• a detailed description of the invention indicating how it is constructed, how it is used and what
benefits it offers compared with what already exists
• drawings
• claims containing a clear and concise definition of what the patent legally protects
Patent documents contain information which can be vital to a broad variety of professions. These
range from technical developers and researchers to legal advisers and business strategy
managers.
Patent information can be helpful in many ways.

To find out what already exists and build on it

• If a technical problem is faced, there is no better way of finding out what solutions are
already available than by looking at patents.

To keep track of who's doing what

• Technical details of research being carried out by competitors may well appear first in a
patent document, long before the product reaches the marketplace.

• By monitoring patent documents, it can help to keep an eye on business competitors or

even locate potential partners.

• Use patent information to identify patents that are no longer in force and can be freely
used. Finally, by watching patent publications, helps to spot trends in technology or the
market at an early stage.

To avoid infringing other people's patent rights

• Before a new product or service is launched, make sure that someone else’s patent is not
infringed. Patent information helps in the above ways.

Invention Protection

An invention can be protected as a trade secret or through a patent. Many businesses use trade
secrets to protect their know-how.

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 • In addition to recognizing and rewarding inventors for their commercially successful
technologies, patents also tell the world about inventions. In order to gain patent
protection for their invention, the inventor must provide a detailed explanation of how it
works.
• A patent is a private right that is granted by a government authority. It only has a legal
effect in the country (or region) in which it is granted. So inventors or companies that
want to protect their technology in foreign markets need to seek patent protection for
their new technologies in those countries.

Granting of Patent
A patent is an exclusive right granted for an invention. To get a patent, technical information
about the invention must be disclosed to the public in a patent application. The patent owner may
give permission to, or license, other parties to use the invention on mutually agreed terms..
Filing: applicants choose a submission category – i.e., national, regional or international – and
file an application. The initial filing is considered the “priority filing” from which further
successive national, regional or international filings may be made within the ‘priority period’ of
one year, in accordance with the Paris Convention for the Protection of Industrial Property.
Formal examination: the patent office ensures that all administrative formalities have been met,
that the relevant documentation has been included in the application, and that all associated fees
have been paid.
Prior art search: in many countries the patent office carries out a search of the prior art – all
relevant technological information publicly known at the time of filing the application. Using
extensive databases and expert examiners in the specific technical field of the application, a
‘search report’ is drafted that compares the technical merits of the claimed invention with that of
the known prior art.
Publication: in most countries, the patent application is published 18 months after the priority
date; i.e., after the date of first filing.
Substantive examination: if a prior art search report is available, the examiner checks that the
application satisfies the requirements of patentability – that the invention is novel, inventive and
susceptible to industrial application, compared to the prior art as listed in the search report.
Grant/refusal: the examiner may either grant the patent application without amendments,
change the scope of the claims to reflect the known prior art, or reject the application.
Opposition: many patent offices allow third parties to oppose the granted patent within a
specified period on the grounds that it does not satisfy patentability requirements.
Appeal: many offices provide the opportunity for an appeal after the substantive examination or
after the opposition procedure.

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 Rights of a Patent

Right to patent: The right to the patent belongs to the true and actual inventor, his heirs, legal
representatives or assigns. If two or more persons have an invention jointly, the right to the
patent belongs to them jointly. Patent, is a legal document granted by the government giving an
inventor the exclusive right to make, use, and sell an invention for a specified number of years.
Patents are also available for significant improvements on previously invented items.

In India, the patent holder is provided with the right to manufacture, use, sell and distribute the
patented product. In case the invention is a process of production, the owner of the patent has the
right to direct the procedure to the other person who has been authorized by the patentee.

Patents are territorial rights. In general, the exclusive rights are only applicable in the country
or region in which a patent has been filed and granted, in accordance with the law of that country
or region.

How to get Patent rights in India?

Steps for application of patent
1. Step 01: Invention disclosure
2. Step 02: Patentability search
3. Step 03: Decision to file an application for patent
4. Step 04: Patent drafting
5. Step 05: Filing the patent application
6. Step 06: Request for examination
7. Step 07: Responding to objections (if any)
8. Step 08: Grant of patent.

iii. Licensing
Licensing is a major aspect of Intellectual property. A licensing agreement is a partnership
between an intellectual property rights owner, known as the licensor, and another who is
authorized to use such rights, known as the licensee, in exchange for an agreed payment, known
as royalty. There is no transfer of ownership involved.

Licensing is a contract between a minimum of 2 parties wherein the licensor agrees to allow
the licensee to share the rights enjoyed by the former subject to consideration by the latter. In an
intellectual property license, the licensee is permitted to use the intellectual property, however it
is subject to conditions and payment of consideration. Since it is a contract, it must satisfy all the
essential mentioned under Sections 10 and 11 of the Indian Contract 1872, i.e., the contract must
be between person who are major, of sound mind and not disqualified from contracting under
any law and there must be free consent of parties, with a lawful object for a lawful consideration

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The three major types of intellectual property licensing are:

1. Exclusive License: This type of license involves the exertion of intellectual property rights of
the licensor by the licensee to the exclusion of all, including the licensor. Thus, only the licensee
is authorized to use the intellectual property.

2. Sole License: In this license, while the licensee is permitted to use the intellectual property,
the licensor is also authorized to use the property, however, such rights cannot be transferred to
any third party. Only the licensor and licensee may exercise these rights.

3. Non-Exclusive License: This license allows for the licensee to exercise the rights as well as
the keeping open the scope for the licensor to exercise the rights and licensing these rights to any
other third party.

Generally, licenses are a combination of these types such as giving a license for intellectual
property for exclusive rights only in a particular geographic area.

Further, the World Intellectual Property Organization broadly categorizes intellectual property
licenses under:

1. Technology License Agreement: In this license, the licensee is permitted to exercise rights
related to patents, utility models or know-How’s protected by a trade secret owned by the
licensor. The licensee is, thus, authorized to use the technology under certain conditions.

2. Franchise or Trademark License Agreement: Trademarks are a way of distinguishing the

goods and services of one enterprise from another. The franchiser has usually gained reputation
for his trademark and via a license agreement, authorizes the franchisee to make use of the
trademark under certain conditions like maintaining the quality of goods and services since the
goodwill of the trademark is at stake. The franchisee may provide financial resources or his own
expertise.

3. Copyright License Agreement: Copyrights are granted over creative works such as music,
cinematograph films, artistic works etc. In order for them to be reproduced and published by
others, there must be copyright license agreement between them authorizing the licensee to
exercise rights over the copyright owned by the licensor.

iv. Trademark

Trademarks are signs that are capable of distinguishing the goods or services of one enterprise
from those of others. Trademarks are indispensable tools in today’s business world. They help

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companies expand their market share and they help consumers identify the products they want to
buy in a crowded market place.

A trademark is a badge of origin. It is a specific sign used to make the source of goods and
services public in relation to goods and services and to distinguish goods and services from other
entities. This establishes a link between the proprietor and the product. It portrays the nature and
quality of a product. The essential function of a trademark is to indicate the origin of the goods to
which it is attached or in relation to which it is used. It identifies the product, guarantees quality
and helps advertise the product. The trademark is also the objective symbol of goodwill that a
business has created. Trademarks are another familiar type of intellectual property rights
protection. A trademark is a distinctive sign which allows consumers to easily identify the
particular goods or services that a company provides. Some examples include McDonald’s
golden arch, the Face book logo, and so on. A trademark can come in the form of text, a phrase,
symbol, sound, smell, and/or color scheme. Unlike patents, a trademark can protect a set or class
of products or services, instead of just one product or process.

Any sign or any combination thereof, capable of distinguishing the goods or services of another
undertaking, is capable of creating a trademark. It can be a combination of a name, word, phrase,
logo, symbol, design, image, shape, colour, personal name, letter, number, figurative element
and colour, as well as any combination representing a graph. Trademark registration may be
indefinitely renewable.

v. Industrial design

It is one of the forms of IPR that protects the visual design of the object which is not purely
utilized. It consists of the creation of features of shape, configuration, pattern, ornamentation or
composition of lines or colours applied to any article in two or three-dimensional form or
combination of one or more features. Design protection deals with the outer appearance of an
article, including decoration, lines, colours, shape, texture and materials. It may consist of three-
dimensional features such as colours, shapes and shape of an article or two-dimensional features
such as shapes or surface textures or other combinations.

vi. Design rights

Design rights protect the shape and form of a product, i.e., what it looks like (whereas
the functionality of a product – how it works – is protected by a patent). Companies invest a
great deal of time and money in coming up with new and attractive designs that seduce
consumers into buying their products. Design is now widely recognized as a key determinant of
commercial success.

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 vii. Trade secrets

Trade secrets can be used to protect the “know-how” of a business. Essentially, laws relating to
trade secrets mean that some people (e.g., a company’s employees) may have a legal duty to
keep certain information confidential. Trade secrets are the secrets of a business. They are
proprietary systems, formulas, strategies, or other information that is confidential and is not
meant for unauthorized commercial use by others. This is a critical form of protection that can
help businesses to gain a competitive advantage.

An invention can be protected as a trade secret or through a patent. Many businesses use trade
secrets to protect their know-how, but there are downsides in doing this. From the company’s
point of view it may be risky because once information is disclosed legitimately (e.g., if someone
else works out how an invention works), it will no longer be protected. And from a public
interest viewpoint, trade secrets are less beneficial than patents because they do not involve any
sharing of technical information.

viii. Transfer of technology

The technology transfer relates to voluntary or non-market transactions by which a firm
gains access to technology developed in another country. Therefore, policies made to develop
a strong IPR regime can help developing countries gain access to foreign technology.
Owing to ever increasing level of competitive intensity, technology has emerged as one of the
major driving forces for large corporates and new-age startups, and has been a key enabler for
majority of the sectors. Innovations in technology are shaping the global economic landscape and
act as a catalyst for knowledge creation, diffusion, and economic development. The rapid
advancements in technology has redefined the companies operate and conduct business across
sectors. In this digital era, technology has become valuable and is likely to be imitated by the
potential infringers, thus reducing the inventor’s incentive to engage in such activities. Besides
this, imitators have cost advantage in relation to innovators unless the innovator’s restricts access
to their innovation through IPR. IPR helps the inventor’s to protect their invention and have the
right to exclude others to make, sell, or manufacture for a period of 20 years. IPRs allow
innovators to gain competitive advantage in the marketplace, thus rewarding them for their
innovative efforts and compensate them for the investments incurred during the research and
development. An adequate and effective IPR protection helps developing countries in growth
and technology transfer, thus reaping rewards for innovation and providing returns in research
and development. While, weak IPR protection leads to technology spillovers by domestic firms
whereas excessive IPR protection leads to inadequate dissemination of knowledge and slows the
pace of growth of innovation. Thus, the choice of IPR depends on the country’s innovation
development and capacity in the long run. Strong IPR protection prevails in the developed
countries having potential innovators to engage in innovate activities, thus boosting the

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economic growth. Developing countries should embrace weak IPR protection for rapid diffusion
of knowledge as an importance source of technology development. Providing stronger IPR
protection can lead developing countries to rely on domestic firms that focus on counterfeiting
and imitation while rewards creativity in developed countries. Many countries are strengthening
their IPR regimes to boost research and development, increase innovation and higher long run
growth. On the contrary, IPR holders engage in monopoly activities thus limiting consumer’s
choice. The impact of IPR protection varies differently in different countries and depends on the
level of development and domestic capacity for innovation.

Transfer of technology takes place through formal and informal channels. Some of the formals
channels include trade, licensing, joint ventures, franchising, foreign patenting, and foreign direct
investment (FDI) while the informal channel include imitation and technology spillover. The
technology transfer relates to voluntary or non-market transactions by which a firm gains access
to technology developed in another country. Therefore, policies made to develop a strong IPR
regime can help developing countries gain access to foreign technology

Conclusion
Intellectual property rights are monopoly rights that grant temporary privileges to their holders
for the exclusive exploitation of income rights from cultural expressions and inventions. There
must be good reasons for a society to grant such privileges to some of its individuals, and so
proponents of these rights provide us with three widely accepted justifications to protect today’s
inter-global intellectual property rights.

It is clear that the management of IP and IPR is a multi-disciplinary task and calls for many
different functions and strategies that need to be aligned with national laws and international
treaties and practices. It is no longer fully driven from the national point of view.

Different forms of IPR demand different treatment, handling, planning and strategies, and
individuals’ engagement with different domain knowledge such as science, engineering,
medicine, law, finance, marketing, and economics. Intellectual property rights (IPR) have social,
economic, technical and political implications.

Leading rapid technology, globalization and fierce competition to protect against infringement of
innovations with the help of IPRs such as patents, trademarks, service marks, industrial design
registrations, copyrights and trade secrets. But there is still a violation of intellectual property
rights. The government is also taking measures to stop them. There are laws regarding the
prevention of infringement of intellectual property rights.

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