Subject: Economy

The increasing digital transformation and global economic integration have made Intellectual Property Rights (IPR) a critical determinant of innovation, competitiveness, and economic growth. Recent amendments to India's Patent Rules in 2024 highlight the growing significance of IPR protection in the modern economy.

Key Distinctions between IPR Types

Copyrights

• Protects original creative and artistic works including literary works, music, software, and artistic creations.
• Provides exclusive rights to the creator for reproduction, distribution, and public performance.
• Duration extends to creator's lifetime plus 60 years after death in India.
• Recent cases involve disputes over AI training data and digital content ownership.

Patents

• Grants exclusive rights for new inventions, technological innovations, and industrial processes.
• Requires novelty, non-obviousness, and industrial applicability.
• Protection period is typically 20 years from the filing date.
• Notable cases include AstraZeneca and Vifor patent infringement disputes in pharmaceutical sector.

Trade Secrets

• Protects confidential business information that provides competitive advantage.
• Includes manufacturing processes, formulas, customer lists, and business strategies.
• No time limit but requires maintaining secrecy and reasonable protection measures.
• Does not require registration unlike patents and copyrights.

Key Differences and Implications

• Protection Scope: Patents protect inventions, copyrights protect creative works, trade secrets protect confidential information.
• Registration Requirements: Patents and copyrights need formal registration, trade secrets don't.
• Duration: Patents have fixed terms, copyrights extend beyond creator's life, trade secrets last indefinitely if secrecy maintained.
• Economic Impact: According to recent studies, IPR-intensive industries show faster growth rates and attract more foreign direct investment.

The establishment of specialized IP divisions in High Courts and India's signing of the Riyadh Design Law Treaty demonstrate the country's commitment to strengthening its IPR regime. Effective IPR protection remains crucial for fostering innovation and sustaining economic growth in the knowledge-based global economy.