Intellectual Property Rights – Trademark Registration in Cochin
What is intellectual property rights in India?
Intellectual property rights are the legal rights governing the use of the structures of the human mind. The identification and protection of these rights is of recent origin. Patents, designs and trademarks are considered as industrial assets. According to the International Convention for the Protection of Industrial Technology (Paris Convention), the protection of industrial property is subject to patent registration, utility templates, industrial design, trademarks, service marks, trade names, sources or appeals or indications of origin and unfair repercussions. When layout design and confidential information were incorporated into industrial property, it all becomes intellectual property. Intellectual Property Rights – Trademark Registration in Cochin is what we are going to be discussed in this blog and required documents.
The term intellectual property is related to the human brain applied to creativity and discovery. Various efforts in terms of manpower, time, leave, skills, money, etc. are required to invent or create something new. The ultimate idea by whose discovery or is the intangible property of the person who created it, who took pains to invent or create. Therefore, according to the law, creative or innovators are given legal rights or monopoly rights to obtain economic benefits on their invention or creation.
Intellectual Property Rights (IPR) are territorial rights by which an owner can sell, purchase or license his intellectual property (IP) in the same way as physical property. However, one has to file an IPR on the legal authority in some representation or embodiment to claim for their benefits. Each type of IPR gives its inventor and / or creator the exclusive right to sustain and reap the economic benefits that are driven further.
Importance of intellectual property rights
Intellectual Property Rights (IPR) plays a key role in every field and has become the basis for decisive investment decisions. IPR is the sole right and therefore always a challenge to strike a balance between the interests of innovation and the interests of society at large. Another important factor is the adequate legal framework to protect the interests of innovators and promote their confidence that change will bring more innovation.
Due to the large number of courts, the diversity of experience of judicial officers in IPR cases and the variety of practices, IPR litigation in India is quite diverse. As a result, some courts have become a preferred platform for others. The Indian Legislature established the Commercial Courts in India by passing a new law enacted in 2015 with the objective of streamlining and expediting commercial litigation, including IP disputes. Under this Act, commercial courts have been set up at the district level and commercial departments have also been set up in the high court’s having general civil jurisdiction. The new law provides a separate treatment for commercial cases, including those involving intellectual property. Given the large number and the drastic progress of the cases, the new law provides strict deadlines for different phases of claims with almost no scope for slow progress. Under the said Act, if a party feels that its opponent has no real possibility of succeeding or defending the claim, and that the recording evidence will be very good, then it may apply for a summary judgment. Attempts are made to hear and conclude oral arguments within six months of the parties preparing to review all documents. This process is to ensure quick disposal of suits.
In addition to changes in the law to improve the speed of trademark hearings, the government has taken initiatives to train judicial officers so that IPR matters are handled expeditiously. Also WIPO and National Judicial Academy, India (NJA) to organize training and sensitization programs for High Court and District Court judges. The National Judicial Academy in Bhopal hosted two lectures on professional law for High Court judges. With courts with a better understanding of IPR laws, India is beginning to be recognized as a pro-innovation sector. Moreover, with the right legal framework in place and no discrimination on the nationality of institutions, India has seen a manifold increase in claims to IP rights through innovations.
A trademark is anything that identifies the origin of the goods or services. It can be name, symbol, logo, colour, sound, etc. A trademark is a symbol of value or goodwill associated with a good and its specific source. It distinguishes one pay firm from another. The benefits of trademarks are manifold:
It helps customers quickly identify products with desirable features. It encourages companies to have improvement of their products. In the absence of any identification trademark, it will be difficult to distinguish duplicates from high quality products. This will reduce the incentive of pay to make high quality products as the return will be the same as low quality products. Trademark registration gives a “monopoly power” over a specific trademark in the sense that others are prevented from using the same or confusing trademark. However this kind of monopoly power does not involve any kind of welfare loss, as its purpose is not to prevent similar products, but only to prevent the use of identical or deceptive markings with the intention of misleading the consumer. As a result, trademarks often have a positive incentive effect. It seems that the economics of trademark defence as a whole and the intellectual property law of those virtues are contradictory.
Importance of trademark registration in India
- Customers who see a trademark know immediately who they are dealing with, have a reputation for your business, and are less likely to find alternatives. Your brand can be a crucial factor in driving a customer’s purchasing decision.
- Trade. Trademarks allow businesses to use the Internet and social media effectively. When searching for your products and services, customers are the first to enter into any search engine or social media platform (Facebook, Twitter, and Pinterest).Traffic on a website or social media platform translates higher traffic into higher rankings, brings more traffic, more customers and more brand recognition.
- Trademarks are a valuable asset. Trademarks can appreciate in value over time. As the reputation of your business grows, your brand will become more valuable.
- Trademarks provide more value than your core business. Trademarks can lead to expansion from one industry to another, such as from personal care to clothing or eye ware. If you wish, your trademark could lead to the acquisition of your business by a large corporation.