The need for the business to protect its Intellectual Property is essential because of these inventions and creations the business runs. In case someone steals it, then it may be proven to be a setback for the business in terms of its economic growth and expansion of the business.
Therefore, businesses need to obtain consultation from IPR law firms that primarily deal with the IPR niche to help them grow and protect their intellectual property.
Introduction to Intellectual Property
Intellectual Property is the intangible property of the inventors, or organisations that have been developed to innovate new products or processes. The idea behind developing Intellectual Property Rights is to provide the right amount of protection as protecting tangible assets was easier and there were no laws regarding the protection of intangible properties.
Intellectual Property Rights, also known as IPR, is a wider term that encompasses within itself the elements of Copyrights, Trademarks, Patents, and Designs.
Types of the Intellectual Property
1. Copyright:
Copyrights are granted to individuals for 20 years for the artistic works or creative works of an individual.
2. Trade Secrets:
Trade Secrets are the secrets or confidential information of an organisation that can be licensed or sold.
3. Patents:
Patents are granted for inventions that consist of an inventive step and have an industrial application.
4. Trademarks:
Trademarks are the company’s logo that distinguishes its services or products from others in the market.
Intellectual Property Law
It is the area of the law that deals with protecting the minds of the individual. It specifies the different types of works that the law can protect. Apart from defining the works it also specifies the penalties for the infringement of these works and what actions can be brought against the perpetrators under the laws.
Benefits of hiring an IP Law Firm
An IP Law Firm always works towards protecting, counselling, and enforcing companies regarding their course of action at the time of infringement or the registration of the IPs. An IP Law Firm performs due diligence to ensure that the business does not suffer at any cost.
The benefits of hiring an IP Law Firm:
1. Protects Organisation’s Property:
As we have rightly discussed an IP Law Firm works towards protecting the IP assets of the company. An IP Law Firm hires Trademarks and Patent Lawyers to provide specialised advice towards Patent or Trademark Registration and Infringement, respectively.
2. Protects Organisations’ Income:
The reason for hiring an IP Law Firm is to protect the income of the organisation by making sure that the proper documentation of the assets is done and if the organisation wants to introduce a new asset, then beforehand due diligence is done by the IP Law Firm to ensure that no time in dealing with the IP Litigation shall be used.
3. Protecting Employees:
The employees are the blood of the organisation and they are more prone to leaking of the information. An IP Law Firm makes sure to have the right contracts with the employees to prevent any disclosures.
4. Protecting the Future of the Organisation:
An IP Law Firm prepares the right documentation for the sale or licensing of the assets of the documents at the time of the sale. Therefore, this is very essential to protect the future of the business.
What are the types of Intellectual Properties secured through IP Laws?
As we have already discussed various types of Intellectual Property are required to be saved from misuse and protection. Therefore, the IPs have been divided into two categories:
1. Industrial Property:
These types of IPs are those that have some sort of industrial application or are used by organisations such as Trademarks, Designs, Patents, Trade Secrets, and Geographical Indications.
2. Non-Industrial Properties:
The non-industrial properties are those properties that have no industrial application or are developed by organisations such as Copyrights.
Key Reasons for hiring an IP Law Firm for the business
There are some grounded reasons for hiring an IP Law Firm for the business and these are as follows:
1. Protecting the Innovations:
One of the prime reasons for hiring an IP Law Firm for your business is to protect the innovations and the unique ideas that have been developed through the creation of these IPs.
2. Avoiding any disputes:
At the time of the creation of an IP the business may not be in a position to understand what can be the probable threats to their IP or what kinds of claims can be made. However, with the appointment of an IP Law Firm, this can be made clear to the businesses beforehand and even before applying to obtain an IP.
3. Enhancing Valuation:
IP Law Firms allow organisations to have a handsome portfolio of IP and this is an established rule that businesses that possess higher and a strong portfolio of IP attract higher valuation.
4. Management of the Portfolio:
This point is an extension of the last point where the IP Law Firms help businesses manage their IP Portfolios apart from only presenting the application for registration. The work of management involves tracking the status of the application, and the renewals of the IPs.
5. Attracts Investment:
Every bit and piece of the IP Portfolio is associated with the economic advantages to the organisations. An organisation that possesses a strong IP portfolio is eligible to attract more investment venture capital and private equity investors on board.
6. Compliance:
IP Law Firms help organisations in navigating through the compliances and the applicable regulations. Adherence to compliance is an essential factor as it will help in minimising the penalties.
7. IP Licensing and Monetization:
With IP Licensing and Monetizing, an organisation can become economically strong. This is the reason for onboarding an IP Law Firm as it will help in negotiating the deal that offers the best price for the organisation.
What is the role of IPR Law Firms in Patent Registration?
All the IPR Law Firms have the right amount of individuals who possess both legal and scientific knowledge and with this expertise in the field, they help businesses navigate the right claims and draft the perfect Patent Application. The role of the IPR Law Firm is not only linked to these but also to:
Assessment of the Invention:
The first and most important aspect of registering a Patent is assessing its patentability. With a den of knowledge, the IPR Law Firms conduct a thorough search to confirm whether the invention is innovative, new and has an industrial application.
Application Drafting:
A Patent Application is one of the most crucial steps in the process of Patent Registration as the granting of the Patent is based solely upon this. IPR Law Firms help in drafting the Patent Application in compliance with the Patent Act and the Patent Rules. IPR Law Firms also draft clear claims to the application that adds an extra layer of protection to the invention.
Filing the Application:
After the perfect drafting of the application, the IPR Law Firms file the Patent Applications on behalf of the organisations to the Patent Office by filing the relevant applicable fees.
Prosecuting the Patent Applications:
IPR Law Firms, apart from filing Patent Applications, also provide a defence to the organisations against the objections or claims raised.
Protecting Patents:
An IPR Law Firm helps protect the Patents of organisations by filing suits against the unauthorised infringement of the Patents.
Different methods of handling IPR Disputes
There are different methods with the help of which an IPR Law Firm can handle the IPR disputes. The most prominent methods of dispute resolution are as follows:
Non-Litigation:
The non-litigation methods of IPR dispute resolutions are Arbitration, Mediation, and Conciliation. In these three types of non-litigation methods of IPR dispute resolution, the IPR Law Firms try to settle the dispute out of court as this is a cheaper and less time-consuming method for the organisations.
In these non-litigation IPR dispute resolution methods an arbitrator, mediator, or conciliatory is appointed for reaching an amicable settlement after hearing both the parties to the dispute.
Litigation:
Litigation is the resort for every kind of dispute and even for IPR disputes as well. An IPR Law Firm helps in filing and defending the IPR Lawsuits for and against the organisations. Litigation can be initiated only after the failure of the non-litigation methods.
IPR Law Firms file lawsuits to civil courts by drafting the applications and making the claims in them. Cease and Desist Orders are issued by the courts as a remedy against the disputes. The whole process of litigation, from summoning to hearing, happens, which makes the litigation a time-consuming and costly procedure.
How does IPR Law Firm help in Brand Enforcement and Anti-Counterfeiting?
We have already discussed the importance of the protection of the IPR and what kinds of roles are played by the IPR Law Firms as IPR is that intangible asset of the organisation that needs extra protection. The major functions of the IPR Law Firms in Brand Enforcement and Anti-Counterfeiting involve:
Developing the Portfolio Strategy:
The most important aspect is the development of the Portfolio Strategy by the IPR Law Firms by which the crucial IPs of the organisation can be separated and a concrete strategy toward filing, renewing, and protecting them can be established.
Issuance of the Cease Letters:
The issuance of cease and desist letters to the organisations involved in the counterfeiting of the goods is an essential task assigned to the organisations as it will help in changing the designs of the infringer, reaching a settlement, or even entering into the settlement agreements.
Registering with the Customs authorities:
The other important function performed by the IPR Law Firm is registering with the customs authorities the IPs of the organisations as the Customs authorities can be a leading source in providing information about counterfeiting goods because they contain the whole database of information related to IPs.
Protection of the Domain Name:
Protecting the Domain Names is essential as counterfeit websites can misrepresent the brand consumers, which is why legal suits can be brought against counterfeit brand names.
How do IPR Law Firms help in safeguarding Copyrights?
A Copyright is a type of intellectual property right that gives the inventor an exclusive right to distribute, adapt, display, and perform a creative work. An IPR Law Firm helps copyright owners safeguard their artistic and creative works by:
Registering the Copyrights:
The first step that is performed by the IPR Law Firms is the registering of the works to prevent them from getting infringed.
Creating an Environment of Innovation:
The most important step towards preserving the copyrights is to create an environment outside and within the organisation that fosters towards creation of such kinds of artistic works. IPR Law Firm helps businesses in legally creating such an environment without hampering the company’s copyrights.
Entering into Different Agreements:
Copyrights are more prone to being infringement therefore, different types of licensing and technological agreements must be entered between the organisations to limit the infringement.
IP Audits:
Regular IP Audits are performed by the IPR Law Firms to check if no counterfeit works are being created in the market and timely litigation or cease and desist letters can be issued to the counterfeiter.
Commercialisation of Intellectual Property with the help of IP Law Firms
Initially, only the tangible properties were the source of being licensed to one individual or organisation but with time, the concept of IP Licensing has evolved to help organisations to commercialise their IP by giving it one license at a time to different organisations or individuals.
Licensing Agreements:
IP Licensing Agreements are those agreements that give the owner of the IP to give it on a license to use their IP for a certain period, certain purpose, specific region, and on negotiable terms.
This gives the right to a third party to use the works of the organisation and this is why the need of an IPR Law Firm is required because it will help in not only drafting the agreement but also negotiating the terms of it.
Technology Transfer Agreements:
Technology Transfer Agreements are those agreements through which the inventor transfers their technology to a third party for any economic advantage or the development of a new product.
This gives the right to a third party to use the works of the organisation and this is why the need of an IPR Law Firm is required because it will help in not only drafting the agreement but also negotiating the terms of it.
Patent Prosecution and the Role of an IPR Law Firm
Patent Prosecution starts as soon as the Patent application is filed by the organisation. The application is drafted and filed by the IP Law Firm. After the filing of the application, it is scrutinised by the Patent Officer and if there are claims or objections to be raised, then the same will be raised by the Patent Officer. This is where the IP Law Firm comes into the picture to safeguard and represent the organisation. This is how an IP Law Firm helps from scratch to the registration to the renewals of the IPs.
Conclusion
Businesses should hire an IP Law Firm to boost their growth and to stand in the market against other business houses. The work of IP Law Firms never ends at the stage of registering the IPs; however, it continues to endlessly preserve, maintain, and protect the IP of the organisation.
Frequently Asked Questions on Intellectual Property Law Firm
Q1. What is the need for the IPR Laws?
Ans1. The IPR laws give the creators of intellectual property the right amount of protection.
Q2. What is the need for IPR Protection in India?
Ans2. The IPR Protection for the country is the need of the hour to protect creativity and intellectual property from infringement.
Q3. What is an IPR Law Firm?
Ans3. IPR Law Firms help individuals and organisations protect their individual intellectual properties from any kind of infringement.
Q4. What is the need for IPR in organisations?
Ans4. IPR gives organisations the right direction for innovation, expansion, and growth.
Q5. What is the scope of IPR Law in India?
Ans5. The IPR laws in India give the authority and liberty to the creators to use, adapt, publish, reproduce, and publish their creative and innovative works.
Q6. What are the objectives of intellectual property law?
Ans6. The intellectual property law’s main objective is to protect the creators or inventors from infringement of their products or ideas.
Q7. What are the 7 types of IPR in India?
Ans7. The 7 types of IPR in India are Patents, Trademarks, Copyrights, Trade Secrets, Designs, Industrial Designs, Geographical indications, and Plant Variety Rights.
Q8. Who controls IPR in India?
Ans8. The Department for Industrial Property and Promotion controls the IPR in India.
Q9. What is the validity of IPR in India?
Ans9. The validity of the IPR is 20 years in India.
Q10. What are the 4 aspects of Intellectual Property Law?
Ans10. The 4 aspects of the Intellectual Property Laws are Copyright, Patent, Trademark, and Designs.
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