#Intellectual Property Rights Intellectual Property Rights (IPR) are the legal framework for protecting intellectual capital such as inventions, literary works, artistic works and insignia of an individual or an organization. > Originality thrives in seclusion free of outside influences ~ Nikola Tesla ###IPR Glossary 1. Patent : It is an exclusive right granted by the government to the inventor to exclude others from using, making and selling an invention in a specific period of time (for 20 years in India ) 2. Trademark : A mark capable of distinguishing goods/ services/ association of persons from those of others is called trademark 3. Geographical Indication (GI) : It is an indication granted to goods whose characteristic quality and reputation is attributable to its geographical origin. ###Why Patent? Patenting is the legal security for one's innovation. It secures the rights of its inventor and gives him an edge in the society. The innovator can generet revenue for himself by licensing. Monetization of intellectual property will attract investments and it will drive its own economy. ###How to apply for a patent ? Patent Application A patent can be applied for patentable inventions (Chapter III in Patents Act 1970). While applying for a patent, we must do patent search and drafting to ensure that the invention is novel. Filing of the application happens either in E-filing or at the patent office. After filing of the patent application, the application shall be published. We must request for an examination on which the application shall be examined. At this stage, we might have to respond to objections and offer clarifications. Hey presto, you got a patent after a thrilling process. Important institutions dealing with IPR are the Indian Patent Office and World Intellectual Property Organization ###IP rights in India are governed by these acts : 1. The Patents Act, 1970 2. Trade Marks Act, 1999 3. The Copyright Act, 1957 4. The Designs Act, 2000 5. The Geographical Indication of Goods (Registration and Protection) Act, 1999 6. The Information Technology Act, 2000 