Intellectual Property(IP) refers to creations of mind- inventions, design of an article, mark used in trade, poems, paintings, photographs etc. Just like a car is a property of the owner which can be sold and rented, IPs are also property of the owner that can be sold and licensed.
The IPs can seek rights for legal protection which are provided by Intellectual Property Rights (IPR). The different forms of IP protection are-
IPR are statutory rights that once granted, allows the owner(s) of the IP to exclude others from exploiting the same commercially, within a given period of time. It allows the creator(s)/owner(s) to have the benefits from their work when these are exploited commercially. IPR are granted to an inventor or creator designer in lieu of the discloser of his/her knowledge.
A patent is an exclusive right granted for an invention, which is a product or a process that provides a new way of doing something, or offers a new technical solution to a problem. A patent provides protection for the invention to the owner of the patent for a limited period of 20 years.
A Geographical Indication (GI) is a sign used on goods that have a specific geographical origin and often possess qualities or a reputation that are due to that place of origin. The term of protection is unlimited with renewal after every 10 years.
Copyright is a legal term describing rights given to creators for their literary and artistic works (including computer software). Related rights are granted to performing artists, producers of soundrecordingsandbroadcasting organizations in their radio and television programmes. For literary work, the protection exists throughout the lifetime of the author and 60 years more after death. For Cinematographic films, records and photographs, protection stays till 60 years but for broadcasting it stays till 25 years.
A trademark or brand-name is a distinctive sign which identifies certain goods or services as those produced or provided by a specific person or enterprise. The period of protection for a trademark varies, but is generally for 10 years and can be renewed indefinitely.
An industrial design - or simply a design - is the ornamental or aesthetic aspect of an article produced by industry or handicraft; registration and renewals provide protection for, in most cases, up to 15 years.
A “Semiconductor Integrated Circuit” is a product having transistors and other circuitry elements, which are inseparably formed on a semiconductor material or an insulating material or inside the semiconductor material and design to perform an electronic circuitry function. On the other hand, a “Layout-Design” is a layout of transistors, and other circuitry elements and includes lead wires connecting such elements and expressed in any manner in a semiconductor integrated circuits. Protection to such “Semiconductor Integrated Circuit” and “Layout-Design” prevents copying and use in articles by others. This protection is granted for 10 years.
Crop species of new and derived varieties are protected under this type of IPR. Also, rights of farmers in conserving, improving and making available plant genetic resources for the development of the new plant varieties are protected too. It allows farmers to save, use, exchange and sell farm-saved seed ensuring the good quality. The protection for Trees and Vines stays till 18 years but for extant varieties and others it stays only for 15 years and is renewable.