INTELLECTUAL PROPERTY AND CONTEMPORARY INDIAN LEGAL SCENARIO
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https://doi.org/10.55662/Abstract
Intellectual property is considered as a major factor in calculations of many indexes these days. It plays a crucial role when comes evaluate development of any country in the field of Science and Technology and also it, is an important factor to determine the policies with respect to trade and finance. It is also something that continues to contribute towards knowledge base of any country. To ensure that the country is progressing, it is must to have a strong IP regime in place and also an efficient enforcement mechanism must be established to ensure the effective enforcement.
Intellectual Property are a set of laws that protect creative and innovative products through legal rights called patents, copyrights, and trademarks While the source, goals, and forms of IP can be different, they can all be seen as protecting and encouraging creative efforts. In other words copyright protects creative expression, a patent protects a new invention, and a trademark identifies and distinguishes the source of goods of one party from another.
IP had been a critical front, which all the developing countries are addressing, and are formulating laws related to the same. India has no different story. There are many schemes which current dispensation has launched in order to facilitate the people. However the poor enforcement mechanism continues to be an issue. The recent IP rankings as issued by US Chamber of Commerce, India has been placed at overall at 44th rank amongst 50 nations. Although India has improved its ranking (43rd out of 45) from last year but the rate of improvement has been really slow.
On certain other measures GIPC has put India last with Thailand, Pakistan and Egypt in terms of International Treatise. Whereas, in enforcement India ranks 43rd out of 50 Nations. In patents, trademarks and copyrights India has been ranked 45th, 33rd and 33rd out of 50 respectively. In other factors of evaluation India has done considerably good job.All credits go to implementation of certain parts of National IPR Policy of 2016.
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