Nature of Concept of the Intellectual Property Rights

The nature of the intellectual property rights is that they are primarily territorial and the copyright is an exception to this general rule.  The intellectual property rights imply the fact that nobody is entitled to use them without the consent of the party concerned i.e. the person who holds the rights. And moreover, these Intellectual copy rights need timely renewal in order to keep them in force and copy right laws and the trade secrets are exception to this.

In the Indian context the Intellectual property rights are the ones rendered to persons for their creations. The creations can be of their minds for which they will be awarded the exclusive rights for its use for a stipulated period of time.

Intellectual property rights or IPR signifies excusive rights which can be used for different facets of an inventive work –Patents, trademarks, Copyrights, Geographical indications, Registered (industrial) design, etc.

Development of Intellectual Property Law in India

The development of the Intellectual property Law in India can be traced to the Indian Trade and Merchandise Marks Act 1884. It is considered to be the first law regarding the Intellectual Property Law in India. In the year 1948, the Indian govt appointed a committee to review the legislation regarding the Patents and Designs. The committee was appointed in 1957 under the chairmanship of Justice Rajagobala Ayyangar to revise the Patent Law.  The report submitted by the committee suggested a balancing of the economic and social justice highlighted in the constitution. In fact this was the first effort to highlight a policy regarding the Indian patent system. The committees’ assumption was that rendering exclusive rights for an invention can go a long way in catalyzing the technical process in different ways like encouraging invention and allied research encourages an inventor to come up with more inventions, encourage people to mane investment in new streams of production.