Intellectual property and economic development

Intellectual property and economic development

1.   The contribution of intellectual property to the economic and cultural development of the country is substantial.

2.      Granting of the patents encourages and enables others in the field of manufacture to improve upon the products, the methods of production and utility to the common man.

3.    The patent specifications are available to the public as a part of patent application. Thus others can improve upon the specifications and also avoid duplication.

4.     However, confidentiality of the patent is not available to the public and it can only be obtained for a price under agreement of the patentee.

5.      Industrial design protection encourages the people with creativity to develop new designs for the products. Thus various consumer articles such as toys, gadgets, furniture, tools etc… are continuously improvised leading to increased economic activity.

6.      Protection of trademark enables the consumer to obtain the right product of right quality. Generally, the trademark creates an impression and preference of the consumers with respect to consumer in identifying the product of his choice easily.

7. Copyright is applicable to variety of fields such as printing, publishing, entertainment, music recordings, motion films etc…The protection against infringement are different for different fields of copyrights.

8.    The design drawings of machinery, structures, architecture etc…are also protected under copyright laws.