Exploitation of Intellectual Property Rights

Many seem to know, what is Intellectual Property? Different intellectual property rights and what all can be protected through those rights. However, very few seem to know what to do with it. Are we to keep it in the cupboard and forget about it? On the other hand, should we boast about possessing an IP?

Most commonly, IP right holders imagine, "thank god I have registered my IP, no one can copy now. If anyone copies I will drag them to court".

Well, it is important to protect IP from infringers and safeguard your IP. Nevertheless, that is not its only purpose. I would say if IP is not exploited it is equal to an abandoned house.

A house for example, can be sold, mortgaged or could be given for lease and income can be earned. Similarly, IP can also be licensed, pledged or assigned and income can be earned.

No owner of a house would wish to keep it locked if he knows that it will fetch decent income. Therefore, all IP holders should recognize that IP is capable of generating revenue and should exploit to the maximum. In others, words should be treated as a valuable asset.

Statistics about International IP filings

Every year WIPO-World Intellectual Property Organisation discloses the statistics about IP filings worldwide. The applications are filed under International Conventions in the year 2012.

Let’s see the details of International Conventions/Treaty.

1. PCT- Patent Cooperation Treaty- for filing Patents transnational

2. Madrid Convention/Protocol-for protecting Trademarks in worldwide markets

3. Hague Convention- International Designs Application

1. Patent Cooperation Treaty

Info graphics system of WIPO published about the details of countries who filed most number of PCT applications under the International Conventions. Totally 194,400 PCT applications are filed in the year 2012. There is an increase of 6.6% of PCT filing. Chinese telecommunication company ZTE was the largest filer in 2012.

Top Countries- PCT Applications

USA	51,207
Japan	43,660
Germany	18,855
China	18,627

Republic 

of Korea        11,848

Top 5 Technologies

Electrical Machinery	13,293
Digital Communication	12,616
Computer Technology	12,391
Medical Technology	11,348
Pharmaceuticals	7,792

Source: WIPO- Infographics-2013

Copyrights and its uses

　

COPYRIGHTS AND ITS USES

 

THE FOLLOWING RIGHTS ARE AVAILABLE TO THE COPYRIGHT OWNER

a. Rights of reproduction,

b. Communication to the public,

c. Adaptation and translation of the work

TERM OF COPYRIGHT

a. Generally for the period of 60 years

b. In case of original literary, dramatic, musical and artistic works the 60-year period is counted from the year following the death of the author.

ADVANTAGES

1. Valid in more than 100 Countries under Berne Convention.

2. No need to renew the copyright certificate.

3. One time investment for creating rights upto two generation.

4. Exclusive right to use, adapt, sale, translate and copy your own works.

5. If someone else uses your work without your permission, owner can take legal action.

LEGAL ACTIONS

INFRINGEMENTS:

A copyright owner can take legal action against any person who does the following acts with respect to the copyrighted work.

a. Copies for sale or hire or selling or letting them for hire;

b. Distributing infringing copies;

c. Public exhibition of infringing copies by way of trade; and

d. Importation of infringing copies into India.

REMEDIES:

The copyright owner is entitled to the following remedies by way of

1. Injunctions,

2. Damages [in terms of money]

3. Seizure of the infringing materials and

4. Rendering the accounts.