DYNAMICS OF INTELLECTUAL PROPERTY RIGHTS REGIME IN INDIA

Abstract

Intellectual property rights (IPR) are critical in enabling long-term innovation. IPR plays a good function in promoting sustainable innovation. Globalization is a major force at the turn of the millennium, and intellectual property has become an integral aspect of global civilization, particularly as the countries move toward a knowledge economy. How knowledge is governed and managed and who has access to it will decide how well this new economy functions and who uses it. A dynamic Intellectual Property Rights system, which provides a sense of security for intellectual works, is necessary for sustainable development. This paper outlines various Indian laws, international conventions and rules on intellectual property rights in India. Various statutes guarantee a person the right to protect his intellectual work. The sacrosanct fundamental rights enshrined in the Indian Constitution protect and incentivize innovation. India is a party to various international regimes of Intellectual Property Rights. Various forms of Intellectual Property rights often intermingle with each other. The paper takes help from various statutes passed by the Indian Parliament and Conventions formulated at the International level. This paper is a sincere attempt to explain various legal protections for intellectual property. There is a thorough analysis of these protections in the latest global developments, and necessary modifications are suggested.