International-Business-Dr-R-Chandran-E-book

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International Business- Dr. R. Chandran
10. INTELLECTUAL PROPERTY RIGHTS
Human brain is a powerful creator, executor and controller
of every function in the world, if optimum utilized. By
converting its efforts one becomes world renowned, others
remain common. Invent, Create and beyond,
Commercialise.
Learning value:
On going through this chapter reader will understand:
1. The concept and importance of IPR
2. Classification of IPR
3. Methods of protecting IPR
4. Procedure to file IPR
What would have happened if Stevenson had not invented steam engine,
Edison had not invented gramophone, Graham Bell had not invented
telephone, Albert & Wilbert had not invented airplane and finally Einstein
had not propounded three laws of gravitational force?
Every product/s we use or enjoy is an outcome of known and unknown
intellectuals. They continue to invent for the society and future.
“It is intangible, sometimes perishable, infringeable and intrudable property
of mind could be encashed by anyone if it is not legally protected”.
Intellectual property refers to ideas, discoveries and inventions that can be
commercially exploited. At one time, intellectual property was manipulated
by smart business. They could take ideas from innovations and inventors and
make fortune. Currently, such inventions can be owned, protected and
marketed by the inventor himself. Such legal protection is scheduled as a
part of the WTO agreement. In some sectors like the pharmaceutical,
chemical, engineering and manufacturing sectors ‘Intellectual Property
Rights’ has become common parlance.
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