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Safeguarding Innovation: The Significance And Need Of Intellectual Property Rights

Everyone wants to earn money from their respective embedded skills among the individuals. As we all know, different people possess different kinds of skills and abilities. Everyone wants to secure their innovation and also wants to ensure that no one benefits from their idea, which they also want to secure.

In history, we can see people try to annex one state over another to get the maximum benefit from the relative location's resources, and that particular state didn't get any kind of consideration in monetary value in return. Human beings were always very keen to capture resources to maximise their own power with the help of land, labour, and capital. People's skills and identities were not at all secure; whomever wants to use the idea, skill, or artwork, they easily use the work .

After gaining knowledge through discourses, people become aware of their respective rights, in other words, human rights, LGBTQ Rights and intellectual property rights. A revolution in technological advancements has shaken the world, due to which intellectual property rights have become ineffective somewhere in the present world as well as in the ancient world. After the evolution of the Intellectual Property Rights Law, order and justice have been maintained.

Historical Perspective
After feudalism, colonialism, and revolution, people started protecting their rights and skills. I started thinking about the law and order in society.

In the Reformation period, people started realising the corrupt practises in the church and around the world. As the great philosopher Hegel said, society keeps on developing.

It is based on the principles of the Humanism Approach, which emerged after the revolution and colonialism of ancient history. The humanism approach is basically focused on the rights of humans regarding freedom of speech, liberty, etc. In this period, people, through knowledge and discourse, started questioning their rights, and the same scenario was seen in the 1870s when people wanted to secure their skills and abilities. To have control over their own embedded intelligence skills. To provide security as well as privacy.

Everyone wants to secure more and more power through imperialism, or "neo-imperialism. To have control over other geographical resources, countries started doing annexations for that particular resource, which led to World Wars I and II. Now, to provide security and strengthen the spirit of democracy, intellectual property rights take place. People started protecting their intellectual skills because they wanted no one else to benefit from their embedded skills.

Broader Perspective
In Varanasi, the "Banarasi silk" saree is very famous for the Indian costume as well due to the famous geographical location. Many shopkeepers benefit from the branding of the original product. It's pure in quality and quantity as well.

Infringement of intellectual property rights can be seen in daily life as well. From the childhood scenario, we all have seen the hawker shop, in which infringement of intellectual property rights has been seen as a very broader concept. Intellectual property rights have strengthened the spirit of Indian democracy. IPR has uplifted the term "vocal for local", opening huge opportunities across sectors and industries in India. In which folk traditional products of the particular area that are man-made get the IPR rights as well.

IPR is a powerful weapon for protecting the inventor's or artist's investment of time, money, and effort since it grants the inventor or creator an exclusive right to use its invention or creation for a specific amount of time. IPR influences a nation's economic development by fostering healthy competition, fostering industrial expansion, and stimulating economic growth. The current review gives a succinct overview of IPR with a focus on medicines.

In the Sarojini market of Delhi, infringements of IPR are done on a daily basis by big company products like Addidas, Gucci, and Puma.In the Sarojini market, the products prices are very low, due to which people try to buy them.

Everyone in the technology industry wants to use social media to increase their income. Often, people try to leverage the concepts or allusions of well-known figures in order to increase their popularity in their respective industries. The originality of a person's work is what makes them renowned.

International trade is critical for growing a company's revenue, expanding its clientele, and guaranteeing a longer product lifecycle. Currency exchange rate changes can also help businesses by giving them access to a larger pool of prospective employees. All Fortune 500 companies have international clients, and most of their locations are abroad.

Since everyone has a unique personality with varying degrees of variance or variability, they can excel in a certain field or direction thanks to their talents, abilities, and persona. The word "personality" is derived from the Latin word "persona." People want to emulate the same trends that are popular in the market, whether they are in literature or music videos.

Novelty and uniqueness are the golden principles of a business that excels. Buissnessmen and entrepreneurs wanted to have their own products on the market.

With the use of IPRs like patents, trademarks, service marks, industrial design registrations, copyrights, and trade secrets, leaders in rapid technology, globalisation, and strong competition can safeguard against infringement of innovations. However, intellectual property rights are still being violated. The administration is also taking steps to put a stop to it. There are laws in place to prevent intellectual property rights infringement.

In a knowledge-based economy, intellectual property rights are very essential for progressive societal development. IPR is a basic necessity to be a part of local as well as global competitive trade, as without the dissemination of IPR knowledge and implementation, creating an innovative environment is really impossible. It is essential for policymakers to include IPR in the basic educational system and promote IPR registration by encouraging innovators and creators.

India has all the resources in terms of available raw materials, cheap labour, and innovative and creatively dedicated manpower. There is no doubt that India and other developing countries will definitely harness their proportionate share of global trade by exploring intellectual property rights.

Award Winning Article Is Written By: Mr.Harsh Srivastava
Awarded certificate of Excellence
Authentication No: JU316779420481-16-0623

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