Q12. In a globalised world, Intellectual Property Rights assume significance and are a source of litigation. Broadly distinguish between the terms—Copyrights, Patents and Trade Secrets.

Model Answer:

Introduction

In a globalised economy, Intellectual Property Rights (IPRs) are essential for safeguarding the innovations, creations, and unique products of individuals and businesses. These rights, however, are often contested in courts due to their impact on market competitiveness. Understanding the distinctions between copyrights, patents, and trade secrets is key to comprehending the scope and protection of different types of intellectual property.

Body

Distinction between Copyrights, Patents, and Trade Secrets

• Copyrights
  • Purpose: Protects original works of authorship, including literature, music, films, and art.
  • Duration: Generally lasts for the creator's lifetime plus an additional 50–70 years, depending on jurisdiction.
  • Exclusive Rights: Allows the creator to control reproduction, distribution, and adaptation of the work.
• Patents
  • Purpose: Protects new, useful, and non-obvious inventions or technological innovations.
  • Duration: Typically valid for 20 years from the filing date, after which the invention enters the public domain.
  • Exclusive Rights: Provides the patent holder with exclusive rights to manufacture, sell, and use the invention.
• Trade Secrets
  • Purpose: Protects confidential business information that gives a competitive edge, such as formulas, recipes, or manufacturing processes.
  • Duration: Can last indefinitely as long as the information remains confidential.
  • Protection Mechanism: Does not require registration but relies on confidentiality agreements and secure practices.

Conclusion

‍In a globalised world, the significance of IPRs like copyrights, patents, and trade secrets is heightened as they help protect creativity, innovation, and competitive advantage. Clear distinctions among these rights help stakeholders choose the appropriate protection mechanism for their intellectual property, fostering innovation while minimising legal disputes.

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