Intellectual Property Rights Demystified

Studies have shown that there is a perfect link between strong IPR regime protected by the me of 3aw and economic development of a country. India is still at nascent stage when compared with the IPR regimes of developed economies. Hence, governmental and intergovernmental initiatives in association with commerce and industrial bodies are being taken up for creating awareness on IPR. As a signatory to many international treaties and eonventions, India has modified many existing IPR laws and codified new ones to foster protection of Indian traditional knowledge and innovations emanate from research and professional institutions of India. Even though the researchers of software, pharmaceutical and bionomical fields are leading the pack of most number of planet applications received at Patent Offices in India, requirement of such awareness in other fields is necessary. It is feit that ignorance on legal and administrative procedures involved in fiüng for IPR is a major issue that needs to be addressed immediately.