THE OBJECT AND PURPOSE OF PROTECTION OF INTELLECTUAL PROPERTY

A statute defines the rights conferred on a particular species of intellectual property as the exclusive right to use the patent, apply the design, use the trade marks or commercially exploit the work in certain forms, as in copy rights, in practice what the statute confers is the right to prevent competitors from commercially exploiting the respective rights to the detriment of the owner of the property.

The intellectual property rights received attention due to their any characteristics and possibility of their violation easily. These intellectual property rights differ from other forms of property because of uncertainties regarding their value and how they can be used.  Intellectual property rights cannot be kept in safe deposit vault or be deposited in a bank or locked up in a house. The said property whether in the form of copyright, trade mark or trade name or in any other form, is easily and readily available in the general public, therefore there is, possibility of theft and exploitation.

The unique nature of these rights and their possible exploitation, the developing countries took note of necessity to protect these rights by international cooperation and necessary legislation in respective countries. Consequently, various international conventions, treaties and agreements have been entered into and the member states also passed necessary legislation.

Intellectual prooerty plays a crucial role in development of industries, commerce and trade and in the growth of creative efforts in almost every field of human endeavor.

The days are changing fast and the material-based society is changing into knowledge-based society, hence the intellectual property plays very important role in the coming years.