Intellectual Property Rights : An Analytical Study Essay

For much of human history the concept of intellectual property did not exist however due to the wide spread progress and extension of international trade need for protection of intellectual property is felt and this led to the “ Paris Convention for protection of industrial property” followed by Berne Convention and which led to the establishment of World Intellectual Property Organisation.

India must seriously examine its Intellectual Property Rights (IPR) position and see how best TRIPS (Trade Related Intellectual Property Rights) can be interpreted, as IPR laws are national laws. India should cull the best points from various laws to suit her future needs.

Protection of intellectual property are investments based on acquired knowledge, thought and effort by one or multiple individuals on behalf of themselves, the business they work for when the property is created, and a financial investment. Each of these – acquired knowledge, thought, physical effort, financial investment – have a value that can be attached as it relates the usefulness or importance of the resulting product. That value will have a level of importance to the individual(s) creating the product and if applicable, the investor providing the funds in support of the creation.

“Carratu International estimates that the global counterfeit market, which already accounts for 9% of world trade, will double in size over the next

An Introduction to the Law and Economics of Intellectual Property Author(s): Stanley M. Besen and Leo J. Raskind Reviewed work(s): Source: The Journal of Economic Perspectives, Vol. 5, No. 1 (Winter, 1991), pp. 3-27 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/1942699 . Accessed: 24/11/2011 08:39

Before college, when I heard about lawyers I only ever thought of one thing, the bar exam, and how awful it must be to prepare and take such a test. Now, moving steadily through the senior year of my undergraduate degree, my aspirations are quite different than what they were before college. With my changing goals, being a lawyer is now a profession that I wish to be a part of in the not too distant future. Specifically, I am aspiring to work in Intellectual Property Law. This form of law deals with protecting tangible and intangible creations of clients. These tangible and intangible creations range from inventions to symbols and often require being an expert in specific fields, such as industries, the arts, or science (Wilson, 2016).

Intellectual property is a broad term that is used to refer to the rights that the owner of an invention or an artwork enjoys. An example of intellectual property law is the Trade Related Aspect of Intellectual Property Rights (TRIPs), which gives individual rights such as patent, designs, and trademark. Intellectual property is contained in the Article 2(viii) of the convention, which led the establishment of the World Intellectual Property Organization (WIPO). Literary works, inventions, discoveries, trademarks, and industrial designs are among the rights that are provided in WIPO. Intellectual property in Australia has a strong judicial support.

Jain, S. C., & Bird, R. (2008). The Global Challenge of Intellectual Property Rights. Cheltenham, UK: Edward Elgar.

Everywhere we look there is intellectual property. Intellectual property relates to intangible property such as patents, trademarks, copyrights, and trade secrets” (USLegal, n.d.). With all of the intellectual property readily available, online and in print there is no wonder that we as a society have an issue with safe guarding our own intellectual property. In order to protect our intellectual property there have been many laws and or rules established to govern how we handle and safeguard this type of property. These laws are found at both state and federal levels and are different between states. In a similar fashion, laws vary between countries as well.

The World Intellectual Property Organization (n.d.) helps one understand the importance of protecting intellectual property. They have spelled out several reasons of this importance including inventing new works in technology and culture, which allows progress to be made that, can be utilized worldwide. In addition, the legal protection of intellectual property encourages the commitment of additional resources for further modernization. Finally, promoting and protecting intellectual property encourages economic growth. It creates new jobs and industries. Protecting intellectual property also enhances the quality and

Paragraph 5 of the Preamble of the TRIPS Agreement provides that “the underlying public policy objectives of national systems for the protection of intellectual property, including developmental and technological objectives” Accordingly, the Preamble is not an operative provision. Therefore, Professor Grosse Ruse-khan suggests that the position of the Preamble “merely opens a door” for other national interest to be taken into consideration, nonetheless the interest would not necessarily prevail. He contends that non-economic interest would be only considered as an “exception” to the right. Through the use of the flexibilities embedded in TRIPS, Professor Gervais contends the Preamble recognizes developing countries’ need to realize their developmental objects, such as innovation policy. However, he also stresses that the flexibility should be used in a manner that “[creates] a sound and viable technological

-One can achieve a high level of innovation in some areas of the modern economy without the intellectual property protection – “excessive, unbalanced or poorly designed IP protections may be counterproductive”

What is intellectual property? Intellectual property or IP for short is creations of the mind, such as; inventions, literary and artistic works, designs and symbols, names and images used in commerce. Among these IP also includes trade secrets, patents, copyrights, and trademarks. IP and its protection are detrimental to the success of the economy. IPs are the innovations that drive the market forward and they are what created eras like the renaissance and the industrial revolutions. But nowadays it is a lot easier to steal one 's idea and pass it on as your own. There lays a major problem that the United State and many countries around the world face. Over $300 billion have been lost due to the theft of IPs from the U.S. per year.

Roald Dahl’s well-known children’s book, Charlie & the Chocolate Factory, depicted a talented inventor of candy known as Willy Wonka. The talented inventor’s creations were constantly under seize by his competitors, specifically Mr. Slugworth, Mr. Fickelgruber, and Mr. Prodnose. Wonka went to extreme measures to ensure his trade secrets, creations, and technologies were kept safe from his competitors. The amount of effort put into protecting his secrets was incredibly overworked. The challenges Willy Wonka faced in protecting his secrets are literary example of the real world obstacles inventors face with their creations. In today’s technological

Intellectual property is the main elements for economic growth and national competitiveness. President Obama mentioned that the United States of America must support intellectual property rights to be successful in an increasingly competitive international market which help the American people to meet their goals. It clearly shows that supporting of intellectual property by government completely related to economy because it has a direct relationship with innovation which is the main buddy in economy, and its benefits will effect to every single industries. In addition, Intellectual property is not just the final product of workers and companies but also it has positive effects to innovation of products, supplies, and commercial activities (U.S. Patent and Tred mark office 2012).