Concept of Property

BY MS PRIYANKA BISWAS
Creation, enjoyment and accumulation of
property has been an important activity
in human life.

Property is what belongs to a person exclusively

of others and can be a subject to bargain and
sale.

Itincludes good will, trademarks, licences to use

a patent, book debts, options to purchase, life
policies and other rights under the contract.
 Types of Property
Property is broadly categorised under two
heads:

Tangible –
(movable) eg. chattels, cars.
(Immovable) eg. Land, Building, etc

Intangible – Intellectual property.

Eg. Trademarks, patent, copyright, etc.
Intellectual Property
Intellectualproperty is a property created by the
creative work of human intellect.

Human beings are superior from other living

creatures and thereby creative genius. They create
intellectual property which can be exploited properly
and can earn wealth, etc.

Because IP is created by the intellect of the person

it is called Intellectual property.

Inventions,
industrial design, literary and artistic
works, symbols used to promote commerce are
commonly known forms of IP.
“Intellectual Property shall include the rights relating to
WIPO Convention

◦ literary, artistic, dramatic and scientific works,

◦ performances of performing artists, phonograms, and
broadcasts,
◦ inventions in all fields of human endeavor
◦ scientific discoveries
◦ Industrial designs
◦ trademarks, service marks and commercial names
and designations
◦ protection against unfair competition

and all other rights resulting from intellectual activity in

the industrial, scientific, literary or artistic fields.”
Classification of IP
Copyright
Industrial Property

Patents
Industrial Designs
Trade Marks
Geographical Indications
Layout Designs/Topographies Integrated
Circuits
Trade Secrets
Protection of New Plant Varieties
 IP Laws of India
The Copyright Act, 1957

The Patents Act, 1970

The Designs Act, 2000

The Trade Marks Act, 1999

TheGeographical Indications of Goods (Registration and Protection) Act,

1999

The Semiconductor Integrated Circuits Layout-Design Act, 2000

The Protection of Plant Varieties and Farmers’ Rights Act, 2001

 Justification of Intellectual
Property
 A Craftsman should enjoy the fruit of his
creativity.

He must be encouraged to the investment skills,

time, finance and other resources in a innovative
way that is beneficial to the society.

Thereby he must be incentivized by granting him

exclusive time limited right so that he can
maximize his economic benefit.

 Balancing of interest between rights of the

creator and societal rights.