Intellectual property rights definition legal

Intellectual Property Rights Has Got Tremendous Importance In The Economy Of The State.  January 12, 2013 – 10:45 am
Intellectual Property Rights

 

Intellectual Property Rights Has Got Tremendous Importance In The Economy Of The State.

In last few decades the intellectual property rights has got tremendous importance in the economy of the state. Intellectual property has become important aspect for every business organisation. Science and technology has taken different shape in this 21st century. One invention or intellectual property is capable of making one entire industry. For example, invention of mobile phone has lead to formation of number of industries associated with it. Such inventions not only establish industries but also create millions of job associated with it. With one music album or to with one film numbers of industries are associated. If proper protection is not provided to such copyright work or cinematographic work it will affect lives of number of people which would in turn impede growth of nation. It takes years for an author to write one book and if such hard work of years is not protected it will cause great injustice to his knowledge and skill. In similar fashion, a scientist must get reward and respect for his invention. TRIPS agreement is most inclusive multilateral agreement addressing intellectual property rights. TRIPS agreement has played vital role in harmonising the law related to various legal system with respect to intellectual property rights. It has served guidelines to various states in framing law related to intellectual property right. A country with strong intellectual property right will definitely will have strong economy. Only adequate protection is not enough but the government should also encourage young people and scientist by providing proper resource to carry out inventive step. Proper protection has become need of this global world. An effective protection is effective when it is enforced by proper means. Litigation, arbitration, mediation and negotiation are widely used methods for resolving dispute. Resolving commercial dispute through arbitration is common act in business world. Due to lack of proper resource and legal frame work and nature of the intellectual property right it gets difficult some times to enforce such rights through litigation. Numerous advantages are associated with arbitration. This research paper will focus on advantages and limitation of arbitration. For arbitration most important factor is arbitrability of IP dispute. Public policy of state is vital hurdle to arbitrate. Moreover, due to the special nature of IP the country of origin of IP i.e. the country in which registration of IP is sought might play role in deciding arbitrability of IP dispute. WIPO has played important role in IP awareness in both developed and developing world. By establishing WIPO Arbitration and Mediation Centre, it has taken further step for ensuring protection of IP rights and delivering quality system for resolving IP dispute between parties. Due to its specialisation in the field of intellectual property, The WIPO Arbitration and Mediation Centre has an edge over other institution offering alternate dispute resolution system in a case of dispute involving intellectual property right. WIPO arbitration also offers special expedited arbitration rules for those people who are seeking quicker resolution of IP dispute. Recently new trend has emerged in investment treaties. Inclusion of intellectual property rights under the definition of investment in investment treaties has provided new area and platform for protection of IP dispute.

Source: Astrea Legal

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Thank you for taking my questions seriously. I appreciate your very "professional" response, including the quotes and the "[sic]" added to avoid any misquotes or errors on your own behalf. I can tell that you are an attorney. I can tell you are an Intellectual Property Atto...p all the lighter elements within and use them for fuel, while the heavier elements near by coalesce and form orbiting bodies. I know that there are anomalies, and I know that not every star system is necessarily like ours, but what I am hoping to find out here is why, specifically, we don’t believe that most stars have a distinct probability of having orbiting planetary bodies.
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