{"id":2608,"date":"2021-02-23T07:23:11","date_gmt":"2021-02-23T07:23:11","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=2608"},"modified":"2021-02-23T07:28:37","modified_gmt":"2021-02-23T07:28:37","slug":"intellectual-property-rights-for-business","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/","title":{"rendered":"Intellectual Property Rights for Business: An Overview"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Intellectual\nproperty is a wider aspect in terms of intangible assets owned and legally\nprotected by a person from being used by any other person without his\/ her\nconsent. It is a non- physical asset owned by a person. The idea of\nintellectual property rights relates to the fact that the particular products\nof human intellect that applies to physical property which is the tangible\nassets must be given protective rights. For a business to succeed, both the\nintangible and tangible assets play a very important role. Intellectual\nproperty being of such great importance for a business is required to be\nprotected similar to the tangible assets. Therefore intellectual property\nrights (IPR) comes into play. This article will discuss about the intellectual\nproperty rights for business in India. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a55058a71b0d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a55058a71b0d\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#What_is_Intellectual_Property_Rights\" title=\"What is\nIntellectual Property Rights?\">What is\nIntellectual Property Rights?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Why_is_there_a_Need_for_Intellectual_Property_Rights_in_India\" title=\"Why is there a Need\nfor Intellectual Property Rights in India? \">Why is there a Need\nfor Intellectual Property Rights in India? <\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Economic_Growth\" title=\"Economic Growth \">Economic Growth <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Encourages_Innovation\" title=\"Encourages Innovation\">Encourages Innovation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Protecting_the_Rights_of_the_Creators\" title=\"Protecting the\nRights of the Creators\">Protecting the\nRights of the Creators<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Ease_of_doing_Business\" title=\"Ease of doing Business\">Ease of doing Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Facilitates_Transfer_of_Technology\" title=\"Facilitates\nTransfer of Technology\">Facilitates\nTransfer of Technology<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#What_is_the_Importance_of_Intellectual_Property_Rights_for_Business_Strategies\" title=\"What is the Importance\nof Intellectual Property Rights for Business Strategies?\">What is the Importance\nof Intellectual Property Rights for Business Strategies?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Understanding_Types_of_Intellectual_Property_Rights_for_Business\" title=\"Understanding Types of Intellectual Property Rights for Business\">Understanding Types of Intellectual Property Rights for Business<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Trademark_Act_1999\" title=\"Trademark Act,\n1999\">Trademark Act,\n1999<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Copyright_Act_1957\" title=\"Copyright Act,\n1957 \">Copyright Act,\n1957 <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Patent_Act_1970\" title=\"Patent Act, 1970\">Patent Act, 1970<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Industrial_Design\" title=\"Industrial\nDesign \">Industrial\nDesign <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Geographical_Indication\" title=\"Geographical\nIndication \">Geographical\nIndication <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Reasons_to_protect_Intellectual_Property_under_Intellectual_Property_Rights\" title=\"Reasons to protect\nIntellectual Property under Intellectual Property Rights\">Reasons to protect\nIntellectual Property under Intellectual Property Rights<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/blog\/intellectual-property-rights-for-business\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Intellectual_Property_Rights\"><\/span>What is\nIntellectual Property Rights?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term\nintellectual property rights is related to the creations of the mind such as\nliterature works, inventions, artistic pieces and etc. it is related to the\ncreativity or invention done by a human. Various efforts in terms of input of\nskills, manpower, energy, time and money and etc is required to create or\ninvent something new. The recognition and protection of such creativity and\ninvention is done under the intellectual property rights. Patent, copyright,\ntrademark, designs are considered as intellectual property. <\/p>\n\n\n\n<p>IPR are the\nlegal rights governing the use of creation and invention by human mind. These\nrights are defined in the Article 27 of the Universal Declaration of Human\nRights which provides the right to benefit from the protection of moral and\nmaterial interests resulting from authorship of literary, scientific or\nartistic productions. <\/p>\n\n\n\n<p>The need and\nimportance of intellectual property was first recognized in Paris Convention\nfor the Protection of Industrial Property (1883) and the Berne Convention for\nthe Protection of Literary and Artistic Works (1886). Both of the treaties are\nadministered by the World Intellectual Property Organization (WIPO). <\/p>\n\n\n\n<p>IPR are the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Territorial_Rights\">territorial rights<\/a> by which the owner of the creation or invention can buy, sell or license his intellectual property similar to physical property. Each type of IPR provides special rights to the creator and the inventor to sustain and get economic benefits which further motivates the skills.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/landmark-judgments-on-ipr-law-in-india\/\">Landmark Judgments on Intellectual Property Rights Law in India<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_is_there_a_Need_for_Intellectual_Property_Rights_in_India\"><\/span>Why is there a Need\nfor Intellectual Property Rights in India? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The development and well-being of the humanity depends on its capacity to invent or create new works in cultural and technological areas. Some of the reasons why intellectual property rights are needed as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Need-for-Intellectual-Property-Rights-in-India-1024x450.png\" alt=\"Need for Intellectual Property Rights\" class=\"wp-image-2610\" width=\"677\" height=\"297\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Need-for-Intellectual-Property-Rights-in-India-1024x450.png 1024w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Need-for-Intellectual-Property-Rights-in-India-300x132.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Need-for-Intellectual-Property-Rights-in-India-768x337.png 768w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Need-for-Intellectual-Property-Rights-in-India.png 1154w\" sizes=\"(max-width: 677px) 100vw, 677px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Economic_Growth\"><\/span>Economic Growth <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The protection\nof intellectual property encourages economic growth and creates job\nopportunities and enhances the standard of quality of life.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Encourages_Innovation\"><\/span>Encourages Innovation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The legal\nprotection of new innovation and creations encourages the commitment of\nadditional resources for more innovation. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Protecting_the_Rights_of_the_Creators\"><\/span>Protecting the\nRights of the Creators<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Intellectual\nProperty Rights protects and safeguard the creators of their intellectual goods\nand services by granting them certain time &#8211; limited rights to protect and\ncontrol the use of their goods. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ease_of_doing_Business\"><\/span>Ease of doing Business<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Intellectual\nProperty Rights promotes the creativity and innovation and ensures the ease of\ndoing business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Facilitates_Transfer_of_Technology\"><\/span>Facilitates\nTransfer of Technology<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Intellectual\nProperty Rights facilitates the transfer of technology in the form of joint\nventure, foreign direct investment and licensing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Importance_of_Intellectual_Property_Rights_for_Business_Strategies\"><\/span>What is the Importance\nof Intellectual Property Rights for Business Strategies?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the earlier\ntimes, the intangible assets were not given recognition for the development and\nsuccess of the business. It was believed that it is the physical asset that\nresults to the overall growth and development of business. However, through\ntime with the advancement and increasing use of information technology and\ngrowing importance of information technology based products and upcoming\nservice industry, the importance and value of intangible assets increased as\ncompared to the physical asset of any corporation. The acquiring, creating and\nprotecting intellectual property is as valuable as other tangible assets which\ncan be traded in the market. And if the ideas are not legally protected by IPR,\nit can be easily getting copied and misused by the third party or rivalry\nwithout giving any benefit or credit to the real or original owner of the said\nintellectual property. <\/p>\n\n\n\n<p>All businesses have a logo or <strong>trademark<\/strong> which helps to distinguish them from all the other businesses dealing in the same industry or segment. If such a trademark is protected legally under the IPR laws, it shall ensure that no other business or individual can use such a similar mark to carry out business in that same industry or segment. <\/p>\n\n\n\n<p>Patent is a\nright which is exclusively granted for an invention made and is either a\nproduct or a process providing new ways to do something or new solution to an\nalready existing issues or problems. Having an innovation or an invention\nlegally patented provides an advantage to the business in the market as patent\nis a negative right which prevents or restricts an unauthorized third party\nfrom creating or using such patented process or product indirectly, providing\nthe business a monopoly over such patented work. <\/p>\n\n\n\n<p>Similarly,\ncopyright provides protection to the businesses dealing in artistic and\nliterary work. Any work of the business which is of literary, artistic,\ncinematograph, dramatic etc are protected by <strong><a href=\"https:\/\/swaritadvisors.com\/copyright-registration\" class=\"text-primary\">copyright<\/a><\/strong>.<\/p>\n\n\n\n<p>Geographical\nindication is an intellectual property that is not granted to an individual but\nis granted collectively to some association of industries. It allows the\nindustry to use the intellectual property by preventing any other organisation\nfrom using same marks for similar products.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understanding_Types_of_Intellectual_Property_Rights_for_Business\"><\/span>Understanding Types of Intellectual Property Rights for Business<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Types-of-Intellectual-Property-Rights-for-Business-1024x176.png\" alt=\"Types of Intellectual Property Rights for Business\" class=\"wp-image-2611\" width=\"721\" height=\"123\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Types-of-Intellectual-Property-Rights-for-Business-1024x176.png 1024w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Types-of-Intellectual-Property-Rights-for-Business-300x52.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Types-of-Intellectual-Property-Rights-for-Business-768x132.png 768w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Types-of-Intellectual-Property-Rights-for-Business.png 1522w\" sizes=\"(max-width: 721px) 100vw, 721px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trademark_Act_1999\"><\/span>Trademark Act,\n1999<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The trademark\nlaw falls under the Trademarks Act, 1999. A trademark is a special symbol which\nhelps to distinguish the goods offered for sale in the market by one business\nfrom another. This creates and establishes a link between the business and the\nproduct and portrays the quality and nature of the product. The main purpose of\nthe trademark is to indicate the origin of the goods to which it is related to\nand used. It identifies the product, provides guaranteed quality and helps to\nadvertise the product. It creates goodwill for a business. <\/p>\n\n\n\n<p>Any sign or\ncombination thereof which is capable of distinguishing the goods or services of\nthe businesses is capable of creating a trademark. It may be a combination of\nname, logo, design, symbol, word, shape, colour, letter, number etc as well as\nany combination representing a graph. It is necessary to register a trademark\nso as to get protection from any sort of infringement by the outsiders. The\ntrademark holder gets many legal rights and benefits under <strong><a href=\"https:\/\/swaritadvisors.com\/trademark-registration\" class=\"text-primary\">trademark\nregistration<\/a><\/strong>. Further the trademark must be renewed from time to time\nby the business so as to continue the possession of trademark and the get the\nadvantages associated with it.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Copyright_Act_1957\"><\/span>Copyright Act,\n1957 <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Copyright Act 1957 states copyright laws which deal with\nthe protection and exploitation of the expression of ideas being in intangible\nform. The law of copyright not only provides a legal framework for the\nprotection of beneficiaries of copyright, the individual writer, artist or\ncomposer, but also the publication required for the creation of the work by\nmany cultural industries, recording and broadcasting industry, film, computer\nand software industry etc. <br>\nAny original work being in literary, artistic, musical, dramatic, cinematic\nfilms and sound recording are protected under copyright law. Also to be\nprotected under copyright law, the idea must be expressed in original form. <\/p>\n\n\n\n<p>Copyright\nacknowledge both moral and economic rights of the owner of the original work. Copyright\nlaw also provide to use the original work of the owner of the copyright without\nhis permission through the principle of fair use, which provides privilege to\nthe others. By applying the doctrine of fair use, the copyright law creates a\nbalance between public and private interests. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Patent_Act_1970\"><\/span>Patent Act, 1970<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The patent law\nrecognizes the exclusive right of a creator or inventor of the innovation to\nget commercial benefits from his invention. Under the Patents Act, 1970 a\npatent is a special right granted to the owner of an invention to use,\nmanufacture and market the invention. The act also lays down certain conditions\nthat an invention is required to meet or fulfil. Exclusive right means that no\nperson can use or manufacture or mark an invention without the prior consent of\nthe patent holder. However, this exclusive right to patent is only for a\nlimited time period. The protection under patent law is given only for a period\nof 10 to 20 years. <\/p>\n\n\n\n<p>&nbsp;To obtain <strong><a href=\"https:\/\/swaritadvisors.com\/patent-registration\" class=\"text-primary\">patent<\/a><\/strong>\nprotection, an invention must come within the scope of patentable subject and\nsatisfy three statutory requirements of innovation, industrial application and\ninventive step. The invention must be novel. The novelty can be inferred by\nprior use or publication. Mere discovery of the invention cannot be patented.\nPatents are not allowed for any principle or idea. <\/p>\n\n\n\n<p>The main purpose\nof patent law is to encourage new technology, scientific research and\nindustrial progress. The economic value of the patent information is that it\nhelps in providing technical information to the industry that may be used for\nthe commercial purposes. Patent acts as an incentive for inventing new products\nand form integral part of a culture of innovation and growth. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Industrial_Design\"><\/span>Industrial\nDesign <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Industrial\nDesigns Act, 2000 is one of the forms of IPR that protects the visual design of\nan object which is not completely or purely utilized. It consists of the\ncreation of features of pattern, shape, ornamentation configuration or\ncomposition of lines or colours applied to any article in 2 or 3 dimensional\nforms or combination or one or more features. The design protection deals with\nthe outer appearance of an article including shape, colour, article,\ndecoration, texture and materials. In many countries, the industrial design\nmust be registered to get protection under the Industrial Design Act, 2000. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Geographical_Indication\"><\/span>Geographical\nIndication <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Certain products\nare linked to a certain geographical location and producers may wish to get\nintellectual property protection to ensure that the products from the other\nareas do not misuse such indicator. It is a sign or a name used on certain\nproducts which relates to a geographical location or origin of the product. The\nuse of the geographical indication acts as a certification that the products\nhave a certain quality as per the traditional method. <\/p>\n\n\n\n<p>Geographical\nindication performs three functions that are firstly, it identifies the origin\nor a particular region or locality of the goods. Secondly, it suggests to\nconsumers that such goods come from an origin where a given quality, reputation\nor other characteristics of the goofs are of essential attribute to the\ngeographic region and thirdly, it promotes the goods of the producers of a\nparticular origin or region. It is necessary for a product to obtain its\nreputation and quality from that origin. Such properties are important and\ndepended on the geographic location of production and a specific link exists\nbetween the product and the place of origin. The Geographical Indication is\nprotected under the Geographical Indication of Goods (Registration and Protection)\nAct, 1999. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reasons_to_protect_Intellectual_Property_under_Intellectual_Property_Rights\"><\/span>Reasons to protect\nIntellectual Property under Intellectual Property Rights<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>To promote the development of creativity. <\/li><li>To promote intellectual property and the ability\nto protect its results in economic growth and creating job opportunities. <\/li><li>Encourages the creators of intellectual property\nto create additional intellectual properties. <\/li><li>Without protection under intellectual property\nrights, the creator and inventor would get little incentive to pursue new\nideas. <\/li><li>The software companies, publishing companies and\nrecording industries cannot exist without copyright protection. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It these recent times the economy is mostly driven by knowledge. Any type of business whether big or small relies on intangible assets for its survival and growth. The intellectual property rights not only provide protection to the creator or innovators for their creation but it also enhances the value of the company. Intellectual property rights for business are important to encourage new creations including technology, inventions, artwork etc. IPR increases the incentives for the business to continue to produce things that would further create job opportunities and new technologies and would enable the business to improve and evolve faster.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/common-problems-of-trademark-registration\/\">What are the Common Problems of Trademark Registration?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Intellectual property is a wider aspect in terms of intangible assets owned and legally protected by a person from being used by any other person without his\/ her consent. It is a non- physical asset owned by a person. The idea of intellectual property rights relates to the fact that the particular products of human [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[19,55,72],"tags":[418],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2608"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=2608"}],"version-history":[{"count":10,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2608\/revisions"}],"predecessor-version":[{"id":2621,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2608\/revisions\/2621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/2609"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=2608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=2608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=2608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}