Department of commerce Faculty : M.com sem-2 Topic : Intellectual property Rights Submitted to : Daksha mam Submitted by : Dave vaidehi Roll no : 12 Academic year : 2018-19

Introduction A property may be tangible or intangible, the intellectual property is a type of such intangible property. Intellectual property is concept with the skill and labour of intellect. The concept of intellectual property is based on the idea that one should have the proprietary rights in something which he creates by applying his skill , labour and intellect. The concept of intellectual property , basically , confers some rights on person concerned , so the concept is generally , called the ‘intellectual property rights’ and more popularly known as the ‘IPR’.

Meaning of IPR Rights attached or derived from the intellectual property are known as intellectual property Rights (IPR). To be more specific , those rights related to IP which are protected by laws are the IPRs . Intellectual property rights is a private right recognized within the territory of a country and assigned to an individual or individuals for a specific period of time in return for making public , the results of their creativity or innovation.

Concept of IPR There is nothing wrong to say, in present context, that ‘wisdom is wealth’. This is the era of ‘intellectualism’. Human intellect is exploring all the fields of knowledge . considering the contribution of human intellect in the development of society a need has been felt to promote , protect, and encourage such a contribution . Consequently , the concept of intellectual property rights emerged. The concept of IPR is based on the idea that the products of human intellect are the property of human. Initially , there was no thought like IPR in ancient society , because , at the time the products of human mind were not treated as a commodity.

Nature of IPR The intellectual property is intangible or incorporeal in nature salmond states it as jura – in re – properia over immaterial objects. When an immaterial object becomes a property it forms an intangible property. Generally , the rights over a property are treated as an intangible property . But , in concept of IPR , the main intellectual property and the rights there over , both are based on immaterial object . For example- the contents and thoughts expressed in a novel , are the intellectual property of the author of the novel and the novel and the rights over such intellectual property or copyright are immaterial object which constructs an intangible property.

Development of IPRs in India The importance of intellectual property in India is well established at all levels. Statutory , administrative and judicial . India ratified the agreement establishing the world trade organization (WTO) . This agreement , inter-alia , contains an agreement on trade related aspects of intellectual property rights (TRIPS ) which came into force from 1st January 1995. it lays down minimum standards for protection and enforcement of intellectual property rights in member countries which are required to promote effective and adequate protection of intellectual property rights with a view to reducing distortions and impediments to international trade.

The obligations under the TRIPS agreement relate to provision of minimum standard of protection within the member countries legal systems and practices. The agreement provides for norms and standards in respect of following areas of intellectual property . Patents Trade marks Copyrights Geographical indications Industrial Designs

Different Types of IPRs Copyright Patents Industrial Design Trademarks Breach of confidence or non-disclosure Passing off Geographical Indications

conclusion From the above Discussion we can conclude that intellectual property is traditionally divide in to two branches , “industrial property and copyright”. The concept of IPR is based on that the product of human intellect are the property of the human.