| Introduction | | | | commonly use the geographic terms. Geographical |
| Intellectual property is an umbrella term for various | | | | Indications are aimed towards identifying the source |
| legal entitlements which attach to certain types of | | | | of the product and is considered as the valuable |
| information, ideas, or other intangibles in their | | | | business tool.o Industrial Design Rights |
| expressed form. The holder of this legal entitlement | | | | Industrial design rights are defined as the part of the |
| is generally entitled to exercise various exclusive | | | | intellectual property rights which confers the rights of |
| rights in relation to the subject matter of the IP. The | | | | exclusivity to the visual designs of objects which are |
| term intellectual property reflects the idea that this | | | | generally not popular utilitarian. It safeguards the |
| subject matter is the product of the mind or the | | | | appearance, style, design of the industrial object such |
| intellect, and that IP rights may be protected at law | | | | as spare parts, textiles, furniture. According to the |
| in the same way as any other form of property. | | | | Industrial Design Society of America (IDSA), |
| Intellectual property laws vary from jurisdiction to | | | | "Industrial Design (ID) is the professional service of |
| jurisdiction, such that the acquisition, registration or | | | | creating and developing concepts and specifications |
| enforcement of IP rights must be pursued or | | | | that optimize the function, value and appearance of |
| obtained separately in each territory of interest. | | | | products and systems for the mutual benefit of both |
| However, these laws are becoming increasingly | | | | user and manufacturer." As these designs consist of |
| harmonized through the effects of international | | | | the aesthetic features therefore they do not provide |
| treaties such as the 1994 World Trade Organization | | | | any protection to the technical features of the article. |
| (WTO) Agreement on Trade-Related Aspects of | | | | Intellectual Property for Business |
| Intellectual Property Rights (TRIPs), while other | | | | In the increasingly knowledge-driven economy, |
| treaties may facilitate registration in more than one | | | | intellectual property (IP) is a key consideration in |
| jurisdiction at a time. Certain forms of IP rights do | | | | day-today business decisions. New products, brands |
| not require registration in order to be enforced. | | | | and creative designs appear almost daily on the |
| Improved Intellectual Property asset management by | | | | market and are the result of continuous human |
| the SMEs essentially means that SMEs consciously | | | | innovation and creativity. Small and medium-sized |
| plan and strive to get the best result out of their IP | | | | enterprises (SMEs) are often the driving force behind |
| assets in line with their business objectives. | | | | such innovations. Theirinnovative and creative |
| Identification of IP assets is a first step. Protection is | | | | capacity, however, is not always fully exploited as |
| the next, and management the last one, to | | | | many SMEs are not aware of the intellectual property |
| effectively manage IP assets. SMEs should also learn | | | | system or the protection it can provide for their |
| to use the IP system specially the technical | | | | inventions, brands, and designs. |
| information disclosed in patent documents. Further, | | | | If left unprotected, a good invention or creation may |
| they need to learn the use of IP system for | | | | be lost to larger competitors that are in a better |
| developing advertising and marketing proficiencies. | | | | position to commercialize the product or service at a |
| SMEs not only need access to markets but also | | | | more affordable price, leaving the original inventor or |
| suitable network partners and joint ventures, | | | | creator without any financial benefit or reward. |
| management skills and credit guarantees. It is | | | | Adequate protection of a company's intellectual |
| advisable to decide on foreign filing only after | | | | property is a crucial step in deterring potential |
| considering the likely demand, licensing possibilities, | | | | infringement and in turning ideas into business assets |
| and enforcement difficulties but this decision should | | | | with a real market value. Taking full advantage of the |
| be made as early as possible. Thus, making | | | | IP system enables companies to profit from their |
| technocrats and staff of SME aware and informed of | | | | innovative capacity and creativity, which encourages |
| the costs and benefits of the use of IP system, and | | | | and helps fund further innovation. |
| through it, of protection of new and original ideas, is | | | | To help SMEs more fully utilize their IP assets in their |
| essential for reaping the benefits of improved | | | | business activities, the World Intellectual Property |
| product quality, in an increasingly competitive market | | | | Organization (WIPO) has established a program to |
| place and in a knowledge-driven global economy. | | | | assist entrepreneurs, SME-support institutions, and |
| Types of Intellectual Property Rights | | | | national governments in increasing awareness and use |
| Intellectual Property Rights signifies to the bundle of | | | | of the IP system among SMEs across the globe. |
| exclusionary rights which can be further categorized | | | | Enhancing Competitiveness through IP Protection |
| into the following heads-o Copyright | | | | Many new products or services embody intellectual |
| Copyright, one of the form of intellectual property | | | | property in a number of ways. Forward looking |
| law, offers exclusive rights for protecting the | | | | enterprises face the challenge of extracting this |
| authorship of original & creative work like | | | | latent value and using it effectively in their business |
| dramatic, musical and literary in nature. Symbolized as | | | | strategy. Companies that dedicate time and |
| "©", here the term 'exclusive rights' mean that | | | | resources to protecting their intellectual property can |
| the holder has the right to determine who will be | | | | increase their competitiveness in a variety of areas. |
| credited with the work, who will perform the work | | | | Intellectual propertyprotection will help in:o preventing |
| and who will be benefited financially from it. However, | | | | competitors from copying or closely imitating a |
| copyright does not extend any protection to the | | | | company's products or services;o avoiding wasteful |
| facts, methods of operation, system, ideas except | | | | investment in research and development (R&D) |
| to the ways in which they can be expressed.o | | | | and marketingo creating a corporate identity through |
| Patent | | | | a trademark and branding strategyo negotiating |
| A patent is termed as the exclusionary rights given | | | | licensing, franchising or other IP-based contractual |
| by the government or the authorized authority to its | | | | agreementso increasing the market value of the |
| inventor for a particular duration of time, in respect | | | | companyo acquiring venture capital and enhancing |
| of his invention. It is the part of the intellectual | | | | access to financeo obtaining access to new markets |
| property right, which connotes with all those rights | | | | In addition, a careful search for conflicting existing IP |
| which are granted to any person for protecting its | | | | rights, and the examination of applications by IP |
| invention, process, discovery, composition or new | | | | Offices can help an enterprise to avoid conflicts and |
| useful development etc. from its further usage | | | | unnecessary litigation. |
| without any authentication. | | | | Effective IP Management |
| If more than two persons have jointly applied for | | | | Effective IP management enables companies to use |
| patent license, both will own the patent separately. | | | | their intellectual property to improve their |
| The original word 'patent' has come up from the latin | | | | competitiveness and strategic advantage. Acquiring IP |
| term 'patere', which means 'to lay open' or 'available | | | | protection is a crucial initial step, but effective IP |
| for public usage'. Sometimes it is also related to the | | | | management means more than just protecting an |
| term 'letters patent', which marks to the royal decree | | | | enterprise's inventions, trademarks, designs, or |
| granting exclusive rights to patentee. Unlike copyright, | | | | copyright. It also involves a company's ability to |
| patent is not granted on giving mere suggestion or | | | | commercialize such inventions, market its brands, |
| idea. An idea of mere manufacturing machine does | | | | license its know-how to other companies, conclude |
| not comes under the purview of obtaining patent.o | | | | joint ventures and other contractual agreements |
| Trademark | | | | involving IP, and effectively monitor and enforce its |
| The trademark or trade mark, symbolized as the | | | | intellectual property rights. |
| â"¢ and ®, is the distinctive sign | | | | Indeed, a company's portfolio of IP must be viewed |
| or indication which is used for signifying some kind of | | | | as a collection of key assets that add significant |
| goods or/and services and is distinctively used across | | | | value to the enterprise. SMEs can also benefit from |
| the business organization or by an individual for | | | | the wealth of technological and commercial |
| identifying and uniquely classifying the source or their | | | | information available in patent and trademark |
| products and/or services among consumers and | | | | databases to learn about recent technological |
| making a distinction of its products or services from | | | | breakthroughs, identify future partners, and find out |
| the other entities. | | | | about the innovative activities of competitors. |
| One of the part of the intellectual property law, | | | | Managing IP effectively and using it to devise |
| trademark signifies to the name, word, phrase, logo, | | | | business strategies is an increasingly critical task for |
| image, design, symbol or combination of any or all of | | | | entrepreneurs worldwide. |
| these elements. The trademark grants rights to the | | | | The Challenge Ahead |
| owner which in turns may take or can commence | | | | Insufficient information on the relevance of IP in |
| legal proceedings in case of infringement of | | | | day-to-day business, high costs associated with |
| trademark. However registration is not compulsory in | | | | obtaining and enforcing IP rights, perceptions that the |
| trademark. The owner of common law trademark | | | | IP system is esoteric, too cumbersome and |
| can also file the suit but in case of the unregistered | | | | time-consuming: These are among the reasons why |
| mark, the protection granted will only be confined | | | | many SMEs are sometimes slow to protect their |
| only to that geographical area within which it has | | | | intellectual property. As an international |
| been used or in that area into which it is expected to | | | | intergovernmental organization dedicated to |
| be expand.o Trade Secrets | | | | promoting the creation, use, and protection of |
| Trade secret points towards a formula, pattern, any | | | | intellectual property worldwide, WIPO draws upon its |
| instrument, design which is kept confidential and | | | | experience and expertise in IP-related issues to help |
| through which any business or trade can edge over | | | | its Member States to overcome these obstacles and |
| its rival and can enjoy economic gain. Trade secrets | | | | take better advantage of the IP system. Given the |
| can be anything from a chemical compound, | | | | importance of SMEs to theeconomies of all nations - |
| manufacturing process, design or preserving materials | | | | they constitute some 90 percent of all enterprises |
| or even a list of consumers or clients. It is also | | | | worldwide andaccount for more than 70 percent of |
| known as "confidential information" or "classified | | | | the production of goods and services - effective use |
| information". To be safeguarded under trade secrets, | | | | by |
| the matter should be 'secret'. Though the definition | | | | SME's of IP assets is a key factor in ongoing |
| of trade secret is variable as per the jurisdiction but | | | | economic development. |
| there are following elements that are found to be | | | | Main Objectives |
| same - | | | | WIPO's SME initiative aims to:o Encourage SMEs to |
| - is not known by the public. | | | | more effectively use IP as part of their business |
| - provides some financial sort of gain to its holder. | | | | strategy;o Promote a greater use of the intellectual |
| - involves reasonable efforts from the holder side for | | | | property system by SMEs;o Strengthen the capacity |
| maintaining secrecy. | | | | of national governments to develop strategies, |
| - importance of data or information to him or for his | | | | policies ando programs to meet the intellectual |
| rivals. | | | | property needs of SMEs;o Improve the capacity of |
| - the ease by which information could be learned or | | | | relevant public, private and civil society institutions, |
| duplicated by others. | | | | such asbusiness and industry associations, to provide |
| - Utility Model | | | | IP-related services to SMEs;o Provide comprehensive |
| The utility model is the intellectual property right for | | | | web-based informtion and basic advice on IP issues |
| protecting the inventions. It is somehow described as | | | | to SMEsupport organizations worldwide. |
| the statutory monopoly which is bestow upon for | | | | WIPO's SME Activitieso WIPO is identifying existing |
| the fixed duration of time in exchange to the | | | | programs and activities designed to enhance SME |
| inventor for the offering of the sufficient teaching of | | | | competitiveness at national, regional and international |
| the invention and permitting the other person, | | | | levels to help assess the needs of SMEs, identify and |
| possessing the ordinary skills of the relevant art, of | | | | disseminate information on best practices, and forge |
| performing the invention. | | | | partnerships with appropriate institutions. Cooperation |
| The rights granted under the utility model are | | | | with these institutions and strengthening their IP |
| somewhat identical to those conferred upon by the | | | | component is a key focus of WIPO's SME program.o |
| patent but are more considerable for using the term | | | | WIPO's outreach activities include distance learning |
| 'incremental inventions'. Sometimes words like 'petty | | | | programs, distribution of publications, self-help kits, |
| patent', 'innovation patent', 'minor patent' and 'small | | | | pilot training workshops, web-based dissemination of |
| patent' are used in reference of the utility model. | | | | information, press campaigns, and direct support to |
| Such models are considered to be more suitable | | | | business associations in their own outreach activities.o |
| particularly for the small scale enterprises, which in | | | | Information on the role of intellectual property rights |
| turns make the 'minor' improvements with the | | | | in the overall business strategy of an enterprise are |
| adaption of the existing products. Utility models are | | | | presented from a managerial perspective, with an |
| more commonly used for the mechanical | | | | emphasis on the role of patents in product |
| innovations.o Geographical Indication | | | | development strategy, as well as the use of |
| Geographical Indication (GI) signifies to the name or | | | | trademarks, designs and geographical indications as |
| sign, used in reference to the products which are | | | | marketing tools. |
| corresponding to the particular geographical area or | | | | Workshops, seminars, and information materials focus |
| somewhat related to the origin like town, region or | | | | on: |
| nation. Thus GI grants the rights to its holder which | | | | - Introduction to IP concepts from a business |
| acts as the certification mark and shows that the | | | | perspective |
| specified product consists of the some qualities and is | | | | - IP management for business success |
| enjoying good reputation due to its origin from the | | | | - Use of patent and trademark data as a source of |
| specified geographical location. | | | | technological and commercialinformation |
| The Trade Related Aspects of Intellectual Property | | | | - Exploitation of IP assets through licensing, |
| Rights (TRIPs) Agreement has defined the | | | | franchising, technological alliances and joint ventures |
| 'geographical indications rights' as the exclusionary | | | | To conclude we can say that Intellectual property |
| rights for the indicator which identify the goods | | | | rights help in providing exclusive rights to creator or |
| originated within the member nations territories, or | | | | inventor, thereby induces them to distribute and |
| area or region of that territory, where the reputation | | | | share information and data instead of keeping it |
| or other attributes of the goods is essentially related | | | | confidential. It provides legal protection and offers |
| to the geographic origin of the place. Geographical | | | | them incentive of their work. Rights granted under |
| indications are the part of the intellectual property | | | | the intellectual property act helps in socio and |
| law therefore like any other law the regulation and | | | | economic development. Intellectual property |
| govern conditions of GI also varies from one country | | | | protection is the key factor for economic growth |
| to another as high differences have been found out | | | | and advancement in the high technology sector. They |
| in the use of generic terms across the world. Such | | | | are good for business, benefit the public at large and |
| case is prominent for food and beverage which more | | | | act as catalysts for technical progress. |