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What do you understand by commercial mis exploitation of intellectual property?

What do you understand by commercial mis exploitation of intellectual property?

The commercial mis exploitation of different kinds of intellectual property is made in different ways. In the case of a patent, the patentee may by himself, exploit the patent or assign his rights or license to the industrialists for a lump sum payment or on a royalty basis, a registered design can be similarly exploited by assigning or licensing the rights to others capable of exploiting it once royalty or lump sum payment basis. Copyright can also be exploited in a similes manner, the scope of assignment or liaising being much wider having regard to the variety of rights conferred on the copyright owner.

Commercial mis exploitation of a registered trademark by licensing ollas to use it on a royalty basis is not permissible except by registration of the license as a registered user under very stringent conditions prescribed by the statute. Unfettered licensing of the trademark in the same manner as licensing of the patent, design or copyright will destroy the property rights in the trademark. This is a very vital difference between a trademark and other forms of intellectual property.

[ What do you understand by commercial mis exploitation of intellectual property? ]

Intellectual property is the fastest growing branch of law All new creation by the human brain is known as Intellectual property.

Their term “intellectual property” has come to be nationally recognized as covering

a) Copyright.

b) Trademark,

c) Patents.

d) Industrial designs.

e) Know-how &

f) Confidential Information.

In General Intellectual Property means that kind of intangible property which is used by virtue of intelligence or wisdom or brain etc. There is no confident definition of it but a united figure i.e. though patent, design & Trademark used to be considered as different kinds of the industrial property when copyright & confidential information were included in the term Intellectual Property, it can’t doubt that patent, Design & Trademark are the products of intellectual effort & creative activity in the field of applied arts or technology & fine-arts.

The phenomenal growth in various fields of the technology industry, commerce & trade during the last decade is due mainly to the research & development output resulting from the creative efforts of scientists, technologists & artists all over the world. From these criteria, Intellectual Property law is one of the fastest-growing subjects all over the world. Because of new methods of business.

Management, advertising techniques & understanding of human psychology have been measured by users of super-fast data processing mechanisms developed by computer programmes & computer-generated creative works. All these have a tremendous impact upon every field of human activity & so on, for obtaining information. Intellectual Property requiem to be protected to generate further & better creative works useful to society & for which there is a great demand in every field of human activity. The development has taken place in various branches of this subject, both statutory law & case law.

Unrewarded to patent, Design & Trademark the statute laws have not changed though bills for amendment of the laws have been introduced in parliament. However, Substantial changes have been made in the copyright Act 1957 by the copyright (amendment Act 1994, 2000. Besides, a number of landmark decisions of the courts in the United Kingdom as well as in India have thrown new light on the various branches of this law, broadcasting, Cable casting & Intellectual property.

As technology in all fields of human activities is developing exponentially the field of Intellectual property is also expanding correspondingly. Protection of patent varieties, protection of various forms of unfair competition or misappropriation of business practices, slavish copying of the details of the products, dilution of repute trademark & their commercial value by using them by competitions in fields of activity different from the owners are becoming more difficult. Piracy of Intellectual property has become intellectual owing to the globalization of trade & commerce.

So, in the present modern time, it will not be ignored that Intellectual property is one of the fastest-growing branches of haw today practically all over the world.

Remedies for the violation of Intellectual property rights are enforced by an action for infringement of those rights before a District Court or High court. Criminal prosecution is also possible in respect of trademark & copyright.

The remedies available against infringement of Intellectual property rights bear a close resemblance. Thus in case of infringement of a patent the patentee may obtain an injunction restraining the infringer from using the patent & either damages or an account of profits. The remedies. available against infringement of a registered design are similar remedy an injunction & either damages or an account of profits.

In respect of trademarks, the vital remedies available against infringement are an injunction, either damages or an account of profits & the delivery up to the infringing copies.

The addition, there is a criminal remedy also against an infringer under which the person accused of infringement may be punished by imprisonment & fine.

Civil & criminal remedies are available against infringement of copyright. The civil remedies are an injunction & either damages or an account of profits. In addition, damager can be claimed for conversion which may be very Criminal remedies include imprisonment & heavy fine & seizure of infringing copies of the work which will be very substantial.

Criminal remedies include imprisonment & heavy fine & seizure of infringing copies of the work which will be delivered to the copyright owner.

There is no criminal remedy available for infringement of the patent or of a registered design.

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