INTELLECTUAL PROPERTY AND ITS PROTECTION UNDER INDIAN LAWS

ABSTRACT

“That ideas should freely spread from one to another over the globe, for the moral and mutual instruction of man, and improvement of his condition, seems to have been peculiarly and benevolently designed by nature, when she made them, like fire, expansible over all space, without lessening their density in any point, and like the air in which we breathe, move, and have our physical being, incapable of confinement or exclusive appropriation. Inventions then cannot, in nature, be a subject of property. Society may give an exclusive right to the profits arising from them, as an encouragement to men to pursue ideas which may produce utility, but this may or may not be done, according to the will and convenience of the society, without claim or complaint from anybody...." [1] Intellectual property plays vital role in scientific and economic development of the world. It paves the way in promoting innovation and creativity. “Intellectual property rights” (IPR) refers to the legal rights granted to the inventor or manufacturer to protect their invention or manufactured product. Its relevance has been increasing day by day. This Article highlights the crucial role of protecting intellectual property rights for encouraging innovation and creativity. It is also necessary to focus on opportunity to promote public understanding of intellectual property rights and its importance for social, scientific, and economic development.