Table of content:
- Patents
- Trademarks (or brands)
- Copyright:
- Design
- Geographical Indications
- Trade Secret
IMPORTANCE OF PROTECTING INTELLECTUAL PROPERTY:
Protecting Intellectual property refers to the creation of the mind, such as inventions, literary and artistic works, designs and symbols, names, and images used in commerce. It is protection for inventions, literary and artistic works, symbols, names, and images created by the mind.
Protecting Intellectual property is critical to fostering innovation. Without the protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development. Intellectual property rights reward creativity and human endeavor, which fuels the progress of humankind.
Protecting Intellectual Property rights promote innovation and creativity, which in turn generates jobs and improves competitiveness. Intellectual property rights enable authors, artists, designers, inventors, and other IPR users to benefit when others use their creations and inventions. Pakistan needs an attractive, affordable, and efficient intellectual property rights (IPR) system to compete on a global scale.
Patents:
An exclusive right granted for a new technical invention. A patent holder can grant a license to somebody wishing to produce copies of the invention against payment of a fee (or royalty) thus obtaining a return on the investment. A standard-essential patent is a patent essential to implement a specific industry standard or technical solution.
Trademarks (or brands):
A word, logo, or symbol that competitors’ companies may not use once it has been protected.
Copyright:
Ensures that authors, composers, artists, filmmakers, and other creators receive recognition, payment, and protection for their work such as books, films, musical works, paintings, and photographs.
Design:
The outward appearance of a product, e.g. the shape of a smartphone, vacuum cleaner, loudspeaker, lamp, armchair, or car.
Geographical Indications:
The name of a location associated with a product gives an assurance that the product has been produced in a particular place, often according to traditional practices or recipes.
Trade Secret:
A valuable piece of know-how and business information that is treated as confidential information because it gives the company a competitive advantage (for example, a recipe the results of a marketing study, the launch date of a new product, or the price offered in the bidding procedure).
INTELLECTUAL PROPERTY INFRINGEMENT:
Protecting Intellectual Property Infringement is a breach of Intellectual Property rights. They can include:
- Counterfeiting-Products made in exact imitation of something valuable with the intention to deceive or defraud whether by imitating a legitimate product or by falsely claiming to meet legal requirements.
- Piracy: The act of reproducing books or other copyrighted works without permission from the copyright owner where necessary.
Legal instruments exist in Pakistan to ensure that Protecting intellectual property rights are efficiently enforced and to avoid commercial-scale infringement that results in economic harm.
Technological Advancements in the past decade were such that there have been regular revolutionary changes and exponential growth in information technology. Along with astounding discoveries, come the challenges of protecting intellectual property rights in the digital area.
The internet has made it easier for people to access journals, publications, and any piece of information that is digital. This is leading to several users thinking that any information on the internet can be reproduced because it is available in the public domain.
Several brands have been afflicted with PR disasters owing to internet scams that they had indulged in. While everybody wants to be at the top of search engine results, it is not wise to get there by hook or crook.
It makes strong business sense to seek protection against infringement by others and ultimately defend in courts one’s sole right to use, sell or import, stop others from using, making, selling, or importing without permission.
Benefits of Intellectual Property Rights:
- IPR can help turn ideas into money makers
- IPR can enhance your market value
- IPR can help you stand out from the competition
- IPR can help you stand out from the competition
- IPR can be used to raise finances
- IPR can enhance opportunities related to exports in business.
To know more details about how to protect intellectual property, contact us at +92-343-1058325 or visit us at https://bizcognitis.com/.