INTELLECTUAL PROPERTY

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 Intellectual property (IP) is a term referring to

a number of distinct types of creations of the
mind for which property rights are recognized.
Under intellectual property law, owners are
granted certain exclusive rights to a variety of
intangible assets, such as musical, literary, and
artistic works; discoveries and inventions; and
words, phrases, symbols, and designs.
Common types of intellectual property include
copyrights, trademarks, patents, industrial
design rights and trade secrets in some
jurisdictions.
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 Out of eight rounds of multi lateral trade

negotiations under GATT, the first six rounds
concentrated almost exclusively on reducing tariffs
while the seventh i.e., Tokyo Round, focused on
non-tariff barriers, apart from tariff reduction .
The eight round known as the Uruguay Round, in
terms of coverage was the most extensive as well
as ambitious.
It took GATT into areas which are not within the
traditional preserve. These include services.
TRIPS, TRIMS and focused on agriculture also .
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 The Agreement on Trade Related Aspects of

Intellectual Property Rights (TRIPS) provides
for minimum norms and standards in respect of
the following categories of intellectual property
rights

(a) Copyrights and related rightsCopyright is the exclusive right given by law to
the creators of literacy, musical and artistic
worlds, films and records. The creators of
literacy works and artistic works such as writer,
poets, composers of music and artists have
rights of ownership of their works
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b) Trademarks Trade mark is an identification symbol which is used

in the course of trade to enable the purchasing public
to distinguish one traders goods from similar goods
of other traders.
The word Mark includes a device, brand, heading,
label, ticket, name, signature, word, letter or numeral
or any combination thereof.
A trade mark performs three functions it identifies
the product and its origin, it guarantees its
unchanged quality and it helps in advertisement of
the product.
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(c) Geographical Indications Certain geographical names have acquired a lot of

importance in the commercial market, particularly with
regard to the goods uniquely associated with such
names.
Traders attach considerable value to the public
recognizing the source, particularly the place of origin
of the goods, especially when the name of that place
is taken as a synonym necessarily after long and
continuous use, for some special quality associated
with the product originating from that place.
Example are: Darjeeling tea, Kanjeevaram silk, etc
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d) Industrial Designs Consumers are influenced by the appearance of

the article in their choice.
Many people blindly choose the article which
catches their eye by appearance.
At the time of purchase, people are attracted by
a design which has an artistic merit.
Some articles with a particular design may
attract the public and within a short period, the
whole stock may be sold in the market. Hence,
design of goods increases profits by attracting
customers
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(e) Patents A patent is a legal monopoly granted to the

owner of a new invention which is capable of
use, for a limited period of time.
It is a statutory privilege granted by the
Government to inventors

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f) Lay out designs of integrated circuits All the modern products are having transistors
and other circuitry elements which are
inseparably formed on a semiconductor material
and these semiconductors are intended to
perform an electronic function.
Layout designs of integrated circuits are
considered as intellectual property. Infringement
of these layout designs is punishable.

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g) Protection of undisclosed information (trade

secrets)
People in business, trade and manufacture
prepare to keep the information relating to their
financial management, inventive administrative
procedures which contribute to efficiency in
production and value addition undisclosed.
The disclosure of such information might help his
competitors and predators of knowledge.
Secrecy and a belief in its efficiency and utility
are the factors which make the information
undisclosed
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 The TRIPS Agreement, which came into effect

on 1 January 1995, is to date the most
comprehensive multilateral agreement on
intellectual property.
The three main features of the Agreement are Standards
Enforcement
Dispute Settlement

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