The importance of intellectual property in India is well established at all levels- statutory, administrative and judicial. India gave its agreement establishing the World Trade Organization (WTO). This agreement also contains an Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) which came into force from 1st January 1995.
The obligations under the TRIPS Agreement relate to provision of minimum standard of protection within the member countries legal systems and practices.
Patent Any invention in respect to any branches of technology be it product or process is patentable if it passes the three tests of being involving an inventive step and can to applied practically. But there are few exceptions available where Patent is not permissible due to protection of morality, human, animal, plant life or health or to avoid serious prejudice to the environment.
Trademark A trademark is a name, logo, tagline, colors that identify a product or service. Business owners are given rights on their trademarks. It distinguishes the goods or services of one undertaking from those of other undertakings. Such distinguishing marks constitute protectable subject matter under the provisions of the TRIPS Agreement. The initial registration and each renewal should not be less than 7 years can be renewed indefinitely.
Copyright Creative artists are given copyrights for their creations. Copyright is done to protect original work of authorship including books, articles, photographs and other creative works. Several measures have been adopted to strengthen and streamline the enforcement of copyrights. These include the setting up of a Copyright Enforcement Advisory Council, training programs for enforcement officers and setting up special policy cells to deal with cases relating to infringement of copyrights.
It is a summarization of an article from India In Business. For more details, visit http://indiainbusiness.nic.in/newdesign/index.php?param=investment_landing%2F267%2F3