World Intellectual Property Day, 2020

By Shubham Diwate

Theme: “Innovate for a Green Future

Every April 26, we celebrate World Intellectual Property Day to learn about the role that Intellectual Property (IP) rights play in encouraging innovation and creativity. World Intellectual Property Day celebrates and brings awareness to the importance of Intellectual property to motivate innovation and creativity. The observance encourages regular people to motivate themselves to always try to think outside the box and achieve astonishing results.

Intellectual property rights (IPR) provide certain exclusive rights to inventors or creators of that property, in order to enable them to reap commercial benefits from their creative efforts or reputation.

Types of Intellectual Property Rights:

1] Patents: Protects functional or ornamental features. (e.g.; Swipe feature, iPhone design)

2] Trademarks: Protects brands. (e.g.; Apple for cell phones)

3] Copyrights: Protects works for authorship. (e.g.; books, movies, drawings)

4] Trade secrets: Protects secret information. (e.g.; New invention, Coke formula)

26th April was chosen as the date for World Intellectual Property Day because it coincides with the date on which the CONVENTION ESTABLISHING THE WORLD INTELLECTUAL PROPERTY ORGANIZATION entered into force in 1970. The main aim of this day is to raise awareness of how patents, copyright, trademarks and designs impact on daily life and to celebrate creativity and the contribution made by creators and innovators to the development of societies across the globe.

Different forms of IPR demand different treatment, handling, planning and strategies and engagement of persons with different domain knowledge such as science, engineering, medicines, law, finance, marketing and economics. Each industry should evolve its own IP Policies, management style, strategies, etc. depending on its area of specialty. Pharmaceutical industry currently has an evolving IP Strategy.

In this highly modern world we need some serious copyrights in order to save important data ultimately it will result in reduction of cyber-crime which turns up its graph. IPR, in this way aids the economic development of a country by promoting healthy competition and encouraging industrial development and economic growth.

Today [Message from WIPO (World Intellectual Property Org.) Director General]:

“Together we can innovate for a greener, brighter and more sustainable future.”

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