Introduction to Intellectual Property Rights (IPR)

Definition of Intellectual Property Rights:

• Intellectual Property Rights (IPR) refer to legal rights granted to creators and inventors to protect their intellectual work from unauthorized use.

• It promotes innovation by rewarding creators with exclusive rights over their inventions or works.

Types of IPR

1. Patents – Protect inventions (processes or products) for 20 years.

2. Copyrights – Protect literary, artistic, and musical works.

3. Trademarks – Protect brand names, logos, and symbols.

4. Trade Secrets – Protect confidential business information.

5. Geographical Indications (GI) – Protect products linked to specific regions (e.g., Darjeeling Tea).

6. Industrial Designs – Protect the visual design of products.

Importance of IPR in Pharmaceuticals

1. Patent Protection – Allows pharmaceutical companies to secure exclusive rights for new drug formulas.

2. Innovation Incentive – Encourages research and development (R&D).

3. Market Advantage – Prevents copying and maintains competitiveness.

4. Generic Drugs – After patent expiry, generic manufacturers can produce affordable versions.

5. Compulsory Licensing – Allows governments to authorize the production of patented drugs during emergencies.

International Agreements

1. TRIPS Agreement (1995) – Sets international standards for IPR.

2. WIPO (World Intellectual Property Organization) – Manages global IPR protection.