Abstract

Intellectual property is the product of human mind and intellect. Intellectual property, in its literal sense, means the things which emanate from the exercise of human brain.[1]It is the product emerging out of the intellectual labour of a human being. It involves the visual expression of a mental conception, the work of both brain and hand[2]. Broadly speaking, the term ‘Intellectual property’ includes, on one level, ideas, concepts, know-how and other creative abstractions, and on a second level, the literary, artistic or mechanical expressions that embody such abstractions.[3]Intellectual Property Rights are increasingly becoming important for ensuring competitiveness of the enterprises. They are foundations of the knowledge-based economy and their usefulness pervades all sectors of the economy.

Intellectual Property Rights are granting some privilege, property or authority made by the government or the Sovereign of the country to one or more individuals. These rights convey the innovator certain substantive rights and ensures him pecuniary benefits which can be enforced for his own gains by him or by assigning the rights to the others. He receives something concrete and which has a real value preventing others from competing with him. The rights protected under IP laws are limited but lawful for the individuals’ intellectual thinking. By acquiring these rights, a person is protected from being exploited of their intellectual creation.[4]

Hence IPR protection is nothing but a pecuniary benefit granted exclusively to the IPR holder for his innovation the most important purpose of IP laws is to promote the progress of scientific research and technology for public good. To achieve these objectives exclusive rights are granted to the innovators for their inventions for a limited period of time. The exclusive rights enable the inventor to gain benefits from the invention by commercialization or licensing his invention.[5]Further, there exists provision for compulsory licensing in some laws. The Patent Act, 1970 under Section 84 provides for compulsory license to prevent the abuse of patent as a monopoly and to make way for commercial exploitation of the invention by an interested person. Under this Section the law stipulates that any interested person can apply to the controller for compulsory license when three years have already been completed from the date of grant of a patent on any of the following grounds:

• That the reasonable demands of the public with respect to the patented invention have not been came across, or
• That the patented invention is not accessible to the public at a reasonably discounted price, or
• That the patented invention is not operating in the territory of India.[6]

[1]Jermy Phillips, Introduction to Intellectual Property Law, p. 3 (1986).

[2] Simonds, “Natural Rights of Property in Intellectual Production”, 1 Yale L.J. 16(1891-92), See N.S. Gopalakrishnan, Intellectual Property and Criminal Law, 143

[3] John M. Conley and Robert M. Bryan,” A Unifying Theory for the Litigation of Computer Software Copyrights Cases”, 63 North Carolina Law Review 563,567 quoted in N. S. Gopalakrishnan, Intellectual property and Criminal Law, 143

[4]Manoj Sinha and Susmitha P Mallaya, Emerging Competition Law (Wolters Kluwer, 2017).

[5]Garware Wall Ropes Limited v. A. I. Chopra, Engineers and Contractors, and Konkan Railway Corporation Limited.,3 MLJ 599(2008).

[6] Dr. S. K. Singh, Intellectual Property Rights Laws (2^nd Edition, 2013, Central Law Agency, Allahabad).