Q9.In a globalised world, Intellectual Property Rights assume significance and are a source of litigation. Broadly distinguish between the terms—Copyrights, Patents and Trade Secrets.

In a globalised world, Intellectual Property Rights (IPRs) are crucial for fostering innovation and creativity, often leading to litigation. Understanding their fundamental distinctions is vital.

Key Distinctions

• Copyrights: Protect original literary/artistic expressions, not ideas. Protection is automatic, lasting author's life plus 60 years.
• Patents: Protect new, non-obvious, useful inventions (processes, machines). Grant exclusive rights for 20 years from filing, requiring registration and public disclosure.
• Trade Secrets: Protect confidential business information (e.g., formulas) for competitive advantage. Protection relies on maintaining secrecy, enforced via contract, with no fixed duration or registration.
• These IPRs differ in subject matter, acquisition (automatic, registration, secrecy), duration, and enforcement (statutory vs. contract).

Recognising these distinct IPRs is essential for effectively leveraging and protecting intellectual assets in a dynamic global economy.