INTELLECTUAL PROPERTY (IP)

INTELLECTUAL PROPERTY (IP)

TOPIC: Economy

Context- The 2021 Notorious Markets List identified 42 online markets and 35 physical markets that are reported to engage in or facilitate substantial trademark counterfeiting or copyright piracy.

• It includes Indian e-commerce website India Mart and physical markets such as Palika Bazar in New Delhi, Heera Panna in Mumbai, Fancy Market in Kidderpore, Kolkata, and Tank Road in Delhi.

Concept-

Intellectual Property Rights:

• Intellectual property rights (IPR) are the rights given to persons over the creations of their minds: inventions, literary and artistic works, and symbols, names and images used in commerce.
• They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.
• These rights are outlined in Article 27 of the Universal Declaration of Human Rights, which provides for the right to benefit from the protection of moral and material interests resulting from authorship of scientific, literary or artistic productions.
• The importance of intellectual property was first recognized in
  • the Paris Convention for the Protection of Industrial Property (1883) and
  • The Berne Convention for the Protection of Literary and Artistic Works (1886).
  • Both treaties are administered by the World Intellectual Property Organization (WIPO).
• Intellectual property rights are customarily divided into two main areas:
  • Copyright for literary and artistic works such as books and other writings, musical compositions, paintings, sculpture, computer programs and films.
  • Industrial property:
    1. Trademarks and Geographical Indications (GIs).
    2. Industrial designs and trade secrets.

India and IPR:

• India is a member of the World Trade Organisation and committed to the Agreement on Trade Related Aspects of Intellectual Property (TRIPS Agreement).
• India is also a member of World Intellectual Property Organization, a body responsible for the promotion of the protection of intellectual property rights throughout the world.
• The National Intellectual Property Rights (IPR) Policy 2016 was adopted in May 2016 as a vision document to guide future development of IPRs in the country.