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Usefulness Of Intellectual Property Law

Intellectual Property is the kind of property that includes intangible construction of the human mind or we can say ideas that have some monetary value. The constitutional rights of intellectual property are called Intellectual property rights and it's defined under intellectual property law. These laws are identified and respected by more than 150 countries worldwide. The sole purpose behind intellectual property law is to maintain the safety of the Original ideas and creation and keeping safe them from duplicacy. To protect the rights of the owner, creators, thinkers. Ideas, creations also have a monetary value so they also can sell in the market as a car or property. As it can be bought or sold like any other physical property that's why word property is being used.

Intellectual property law deals with the rules for securing and enforcing legal rights of the creator, owner of inventions, writing, Music, Designs, and other work which all are included in intellectual property. Just as the law protects ownership of personal property and real estate, so too does it protect the exclusive control of intangible assets. The purpose of these laws is to give an incentive for people to develop creative works that benefit society, by ensuring they can profit from their works without fear of misappropriation by others.

There are 7 types of intellectual Property rights
  1. Patent
    A patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of years in exchange for publishing an enabling public disclosure of the invention. A patent provides the owner a legal standpoint in front of others from making, using, selling, piracy the use of the idea. The term of the patent is usually 20 years from the filing date and is based on the payment of maintenance fees. It's difficult to file a patent in your name, as there will always be a thirst party or can say opposition who will be ready to appeal that the idea is already taken or used. The patent is mostly used for inventions made by the owner.
     
  2. Copyrights
    Copyright is a type of intellectual property that gives its owner the exclusive right to make copies of a creative job, usually for a limited time. The creative work may be in a literary, artistic, educational, or musical form.it is used to secure the original idea in the form of creative work done by the person. Copyright authority is shared among several individuals, each of whom holds the right to use the license work. The duration of copyright expires after 50-100 years based on different jurisdictions of different countries. If a person uses a certain product that is being copyrighted without taking permission from the owner, the person needs to pay some amount to get the product still being used, or otherwise, the product can be banned.
     
  3. Trademarks
    A trademark is a type of intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks. The owner of a Trademark can be an individual, a business organization, or a legal entity (company).it can be placed on products, packages, labels, vouchers, gift items as well as on the building of the company. The owner of the trademark can have legal action against the infringement of the Trademark.
     
  4. Industrial Design Rights
    An industrial design right is an intellectual property right that protects the visual design of objects that are not purely utilitarian. Industrial designs include the creation of the shape, composition, or configuration of pattern color in the 3D form including aesthetic value. The applicant or holder can file for a single international deposit with WIPO or with the national office in the country. The design will be safe in member countries of the treaty as desired. The design rights have a duration of 15-50 years depending on the jurisdiction of the country. WIPO already have published maximum term for protection of the designed rights.
     
  5. Trade Secrets
    A trade secret is the type of intellectual property that includes practice, formula instruments, patterns, or compilations of information that have inherent economic value because they are not generally known or readily ascertainable by others, and which the owner takes reasonable measures to keep secret. In some country jurisdictions, such secrets are called confidential information. They are an important component of a company that is invisible. Their contribution to a company is measured as its market capitalization which can be major. For example- Coca Cola refused to reveal its secret recipe or can say secret trade in front of two judges order.
     
  6. Trade Dress
    Trade Dress is the intellectual property in which it describes the characteristics of the visual appearance of the product or its packaging or the design of the building that signifies the source to the end-user consumer. Getting the Trade The dress can be difficult as Applicant needs to prove that the design he owns has a secondary meaning to the consumer and is limited by functionality doctrine. To gain protection from the law the trade dress should not be in function at or before the time of applying for the same.
     
  7. Plant Varieties
    It is also known as Plant breeder rights. These are the rights granted to the breeder of the new variety of a plant which gives the breeder exclusive control over the propagation material and harvesting material which includes seeds, cutting tissue culture cut flower, etc. of a new variety of plant for few years. The breeder also can become the exclusive marketer of the plant, but for this, the breeder needs to give the plant for examination, seeds will be submitted to the plant variety office, who will grow to check the stability of the plant. If the test is passed the exclusive rights will be granted to the breeder for 20-25 years will annual maintenance fees will be paid by the breeder.
     

Importance of Intellectual property in the life of an engineer
Intellectual property is very important for engineers. Being the technical rich branch, there are lots of innovation and invention take place in an engineering institute of the country and to protect their knowledge and product knowledge of intellectual property law is necessary. Knowledge of the rights and laws nor only protect the knowledge and product of engineer but the licensing also help them to reach the larger interest of the society as they have to publish about the intellectual property to get legal rights. It also promotes people to bring new ideas in front of society. It not only creates or brings new opportunities to the engineers, it also brings a source to earn money.

"A small idea can change the full life of a person"

To understand intellectual property rights and laws you don't need a legal degree or have in-depth knowledge of law you just need strong technical background and you already have it being an engineering student. There is so much of a lack of understanding of intellectual Property law because this subject is not introduced in the graduation as well as post-graduation of many countries. The entire professional like engineers, chemists, doctors, researchers, breeders should know the subject. In all these professions as you will go to a higher level you will surely need to study about the subject one day. It will be better if it is included in the graduation or post-graduation degrees only so that new and opportunities will arise for the students

The usefulness of Intellectual property rights for the engineers
  1. Knowledge of Intellectual Property adds monetary value to your work:
    Many engineers have a great mind and from that great mind it comes great ideas of innovation and invention of different products, services, and technologies but due to lack of knowledge either someone else takes the credit or it remains published in a small section of some newspaper or project report which no one ever read and the hard work goes in vain. But knowledge of rights will help the engineers to exploit their ideas and innovation commercially and convert them into the monetary property
     
  2. Knowledge of Intellectual Property enables you to improve the quality of your work:
    Knowledge is like ocean take as much as a bucket of water with you still the ocean remains the same, same way it's with knowledge, there may be many things of which you have a piece of knowledge about but there are many more things for which you don't know yet. So the database of patents is a huge knowledge which you can assemble for free. Knowledge worth millions is there for you for free. With that knowledge, you can create something creative or innovate something new. You can harness the power of intellect to enable the creation of your mind.
     
  3. Knowledge of Intellectual Property empowers you to take your own decisions:
    Knowledge is the power and power that can lead you to from nowhere to your dream location or dream life. Intellectual property empowers you to become a job creator than a job seeker. it opens up various tremendous opportunities for entrepreneurship and It gives you easy access to venture capital funding compared to those who don't know about intellectual property.
     
  4. Knowledge of Intellectual Property opens up a world of new career opportunities for you:
    Careers in the field of intellectual property are highly paid and can give your career a boost and make your dream life real. They open a new world together a world you never thought existed. Patent agents, patent attorneys, patent litigation experts, patent analysts, technology transfer professionals, licensing specialists, etc. are some of the new careers for engineering professionals in which there is always a shortage of the right people. As only a few people knew about intellectual property rights and laws there is highly shortage of staff in these jobs and they are highly paid government jobs too.
     
  5. Knowledge of Intellectual Property has special value for qualified engineers in terms of consultancy promotion:
    For engineer professionals, knowledge of Intellectual Property opens a whole lot of opportunities. It also opens new tremendous opportunities in technical consultancy. You can sell your knowledge and earn a huge amount of monetary benefits. You get the knowledge to help the industry, to troubleshoot and solve problems of the companies, and being from a technical background and your knowledge of Intellectual Property helps in the expansion of the company. Knowledge of Intellectual Property gives you the path to enable rare technical knowledge hidden in patents, which can give your career a great boost and increase your income.

As an engineer you must have certain ideas to enhance the functioning of a machine, change in technology, altering the production process can drastically affect the price.
It can lead to significant global technology and change the future of the product, making the product global competitive and earn foreign value from being a small company to a large MNC. Hence engineers and engineering students need to know the immense value of the property and the way to save lots of your ideas and innovations and the way important they can be in changing the lives of the person.

To illustrate the importance of intellectual property I would like to give an example of jack biscuits.

Jack Biscuits
Naman, an engineer joined 'Biscuit Planet'-a a biscuit manufacturing company of a special brand Jack Biscuits. The process of manufacturing biscuits includes the use of heavy machinery. A company thought to expand its business they went in for purchase more and more imported machines. The machines were huge giants and consuming lots of electricity and at least 5 people were required to handle a single machine and transportation and installation charges were need to be paid extra. The machines cannot be copied as the company had 'Intellectual Property Rights' in form of patents and trade dress over the machines which they had enforced strictly all over the world.

Naman as an engineer used to spend a lot of time with these machines and he had seen the problems faced by the company in the manufacturing of these biscuits and huge manufacturing cost is given and he started thinking. Then one day he got an idea which can produce the same amount of biscuits effectively and efficiently.

Excited he talked to his supervisor who also liked his idea very much and he took the idea to the company's management. The management listed the idea carefully and patiently and after discussing they thought about the idea is worth exploring. So they called the patent attorneys who drafted a 'provisional patent. Naman told their idea and deposited it in the Patent office. Naman idea was safe and the company agreed to give some percentage of the profit from the sales to him if his idea got successful.

He worked hard and created a new machine, which produces the same Quality of Biscuits. His machine was quite innovative which was smaller in size and also used less electricity and can be operated by only one person. The management was very happy with Naman As they created biscuits at a much cheaper rate and enjoyed more profit. Encouraged from the machine company filed patent worldwide. They sold the patent to different manufactures and earned a huge amount of money.

Naman's work was appreciated worldwide and also was honored for bringing the recognition of the technology change. Naman got rich from the royalty earned from selling machines, from being a small engineer He was known worldwide for his innovation.\

"Asimple idea can change the world of Naman can also change the life of yours too"

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