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IP has become a new age sensation

Posted on: July 3, 2018

Intellectual property has become a new age sensation among people across the world. People talk about intellectual property rights. The entrepreneurs, businessmen, institutions and almost anyone in this world who runs business is concerned about their intellectual property rights (IPR). It can be said that the free market economy and innovation and technological advancement is fuelling the growth of the field of intellectual property rights.

The importance of intellectual property rights can be attributed by the fact that the developed economies like United States of America, China, Japan, and the OHIM/ European Union Intellectual Property Rights are at the forefront. Innovation, intellectual property, and the protection on one hand and the business on the other are inter-dependent and are important for the innovation driven economy. IPR can be said to be THE DIFFERENTIATING FACTOR helping the customers identifying and distinguishing the products when it comes to a particular sector. The rise of the Google, Facebook, Uber in the US markets and all over the world and their contribution to world economy proves the necessity of intellectual property in business.

Prominent examples of IPR

People identify different products with the help of various logos but does not understand the intrinsic value or importance of the same. IPR in itself can be called to be the identity of an organization or an individual. IPR can be of different types ranging from trademark to shapes and designs. For example – The Uber logo is unique and therefore is an identity of the business. The same is true with Indian Railways, Delhi Metro Rail Corporation, MobiKwik, Quickheal, BMW, TATA Group etc. The logos are an identity and the popularity of the same can be manifested by how people connect to these logos. The uniqueness and innovativeness of the design for every company is the USP of the particular company. These logos are primarily involves the trademark aspect. The peculiar shape of a bottle of an alcoholic beverage or a lighter or a packaging (otherwise known as trade-dress) can be considered as prominent examples of intellectual property rights. IPR helps in distinguishing products of same nature produced by different brands.

How to protect your innovation?

You’ve recently invented a great product and are thinking of protecting this brilliant idea before someone else steals it. Then all you need to do is to file a patent application.

A patent is a legal protection given to a person so that the invention can be made available to the public. A person to whom a patent is granted can prevent others from using, selling, or reproducing their invention. However, if the inventor does not apply for the grant of a patent, they cannot claim such privileges and will not be competent to file a legal complaint when someone profits their invention.

How to get patent for your invention?

Any person looking to get a patent will have to apply for it. However, before making an application, the inventor must ensure the patent is for something new. No patent will be granted for an invention that has already been disclosed to the public in any form. For example, when the US granted a patent for “turmeric” to the Mississippi Medical Centre in 1995, India challenged the grant claiming turmeric was used in India for centuries as a spice and wound healer.

It is not just important that the invention is new, it must be useful as well. This means that the invention must be capable of being made or used in some industry.

Lastly, an invention by any person in any field of art should be of such a nature, that a person who is skilled in the art to which this invention relates cannot easily replicate it with no special effort. Basically, it has to be ‘non-obvious’ in nature.

Who can file a patent application?

The inventor.

An assignee to whom the inventor has assigned the rights to file the patent application under a legal contract.

A legal representative of a deceased person who immediately before his death was an inventor.

Where to apply for a patent application?

If you fall into any of the categories mentioned above, then you can apply for the grant of a patent at the Indian Patent office or its branches, in whose jurisdiction either you reside or carry out your principal business.

 For more details or assistance please visit: https://www.einfolge.com/

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Einfolge Technologies is one of the most active players in knowledge process outsourcing (KPO). It provides a wide range of solutions across various domains. Our Solutions include Patent and IPR, Market and Business Research, Clinical Data Management and Legal Data Assessment.

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