A STUDY ON IMPORTANCE AND TRENDS IN INTELLECTUAL PROPERTY RIGHTS

Creative works and many inventions are increasing in the fields of Business, Industry, Science and technology, Literature etc. Innovative thinking of creators is creating new techniques, methods and designs which are simplifying activities in various fields and coming out with excellent outcomes. These successfully implemented innovations of creators are to be protected as their property. The creators should have legal rights on all those they have invented/created. These legal rights are Intellectual property rights. The common aspects of them are Patents, Copy rights, Trademarks and secrets. The ideas, thoughts or innovations must be registered with the authority concerned which provides the c legal rights to the creators with which they can use them without competition in their respective fields because any other person, firm or company can’t use their innovations without consent of creators. Legal rights protect them. This paper is an attempt to focus attention on importance of Intellectual property rights and trends in implementation processes. Researcher has tried to analyse the usefulness of IPR to the creators and to society and the movement of applications for registration for the specified past period and how many of them have been being in force etc. The study is completely based on secondary data collected from the annual reports of Ministry of Commerce and other websites.