Why You Should Protect Your Ideas Like Logos and Innovations?

In this digital age every individual has their own unique ideas which they combine with technology. These became more than just thoughts; they are profit-making assets for them. These ideas in the form of brand logos should be protected, as these represent your identity and reputation in the competitive market. This is highly the era where everybody is lacking in the protection of the ideas, and people are becoming the copycats who want to earn profits from the ideas. That’s where the intellectual property rights play an important role against the copying and misusing of the ideas by securing them with the help of trademarks, copyrights and patents.

WHAT DO YOU MEAN BY INTELLECTUAL PROPERTY RIGHTS?

These are also known as IPR. These are the rights that are given to the person to take legal action against the protection of their intellectual property, creation, ideas and innovations.  These can be protected by the trademarks, patents and copyrights. These ideas are the assets that enable the person to earn profits. These give you a competitive edge in the market by building your brand image and reputation. It also creates the long-term relationship with the customers along with their loyalty. So, this stands for the rights given over the creation of the mind of an individual. [1]

WHY THIS SHOULD BE PROTECTED?

The ideas should be protected because of their many advantages, which are as follows:

1. Helps in preventing copying and limitation – IPR prevents the ideas from being copied by registering them and making them yours. If it is done on time, then others will not be able to initiate the same as yours.
2. Creates brand identity – IPR helps to create the brand identity which will enable the customer to differentiate it from other brands and prove their trust and loyalty in them. [2]

• Encourages innovation – if there is protection on the innovations and the creative creation along with a surety and satisfaction among the creators, then they are more enthusiastic and encouraged to innovate more without any fear of stealing.

1. Avoids future legal issues – if there is a protection and already a registration then it will be very easy to deal with the issues that arise in the future.
2. Global growth – it helps to increase its brand value in the market, which enables it to have growth in the global market, and it increases the business value and helps in earning the profits.

TYPES OF IPR

The ideas are like the DNA, and law is the cell membrane. Cell membranes protect the inner things and make them protected; likewise, ideas are protected by the law. Law protects the ideas from them misused, copied and wrongfully acquired. These provide many safeguards, such as

1. TRADEMARKS – It is a sign which distinguishes one brand from the others. It protects the brand name, logos, and slogans.
2. PATENTS – It is the right that is given to the creation of innovation. It also tells the creators to decide how and who can use their innovations. It protects the innovation and creation of ideas.

• COPYRIGHTS – It is the right that is given to the creation for its design and creative ideas and marketing materials. It protects the original work of the artist.

1. TRADE RIGHTS – These are the rights that are given for the protection of the confidential information. This cannot be used by others.[3]
2. GEOGRAPHICAL INDICATORS – These are the rights which are conferred on the goods that have a specific geographical origin.

IPR IN INDIA

In India there are many acts which are established for the protection of ideas. Some of the acts which are provided by the government of India are as follows:

TRADEMARK ACTS – This helps in protecting the trademarks of the country. Some of the trademark acts are as follows:

• The Trademarks Act 1999
• Trademarks Act 1999 in new elements
• The Trademarks (Amendment) Act 2010[4]

PATENTS ACTS – The main objective of this act is to encourage innovations of new and useful manufactures. Some of the acts which are amended are as follows:

• The Patents Act 1970
• The Patent (Amendment) Act 2002
• The Tribunals Reform Act 2021
• The Jan Vishwas (Amendment of procedures) act 2023

There are many more acts related to copyrights and geographical indicators, such as Copyright Act 1957, Design Act 2000, and the GI Act 1999, etc. This shows how important it is to protect our ideas. With the help of many acts, we are safeguarding our own assets and innovations, which will be very beneficial in future prospects too.

CONCLUSION

IPR is the most important right which should be availed to every individual particularly those who have ideas, creative innovations and many more such things. This helps them to protect against the unauthorized use of their ideas by the others. If the ideas are not protected, then it will create a huge mess for that person. They will face many legal suits; the ideas can be stolon, and they won’t be able to prove they are theirs. It will also lead to brand loss, profit loss and loss in loyalty and retention of the customer. So, it is very important to protect your ideas. [5]

[1] A Partnership Firm – Procedures and Requirements for Registration https://share.google/bMqC5fMeVR6uHSpac

[2][2] Importance and Types of Intellectual Property Rights (IPR) – GeeksforGeeks https://share.google/Jr3QKoEX0zGdhjK0q

[3] WIPO – World Intellectual Property Organization https://share.google/UElUv1ua75dfswad5

[4] Official website of Intellectual Property India https://share.google/kM14Vq0NUApqqDFQ4

[5] What Are the Risks of Not Protecting Your Intellectual Property? – dreyfus https://share.google/CXgBfAfZ2IlJPpKvu