IP EDUCATION: BUILIDNG CAPACITY AND RAISING AWARNESS OF IP AMONG FUTURE INNOVATORS, ENTREPRENEURS AN

Lalbee S
Jul 24, 2023
4 min read

IP EDUCATION: BUILDING CAPACITY AND RAISING AWARENESS OF IP AMONG FUTURE INNOVATORS, ENTREPRENEURS AND LEGAL PROFESSIONALS

Written by S. Lalbee, Law Student

Introduction:

A general word used to describe works created by the intellect, or brains, is intellectual property. Intellectual property is similarly protected in the same way that tangible property is. Since intellectual property is so important, the United Nations established the World Intellectual Property Organization (WIPO), a specialized agency, and charged it with a variety of duties related to intellectual property, including spreading awareness of, protecting, and upholding those rights arising from IP on a global scale.[1]

Significance of Awareness for IP:

IPR Awareness: Outreach and Promotion is the primary goal of the National IPR Policy since it is essential for the generation of IPRs and subsequent commercialization of IPRs. Since IP is a product of human thought, there is a need to raise knowledge of IP across all societal segments.[2] The Policy envisions an India where individuals in Tier 1, Tier 2 and Tier 3 cities as well as rural regions are informed about their intellectual property rights, as well as students in schools, colleges, and universities, industrial clusters, and citizens nationwide. The judiciary and enforcement authorities of the nation must be informed of the most recent IP legislation and sensitive to the need to enforce the IP rights of persons and businesses.

Utilizing IP is essential for advancing the National IPR Policy and boosting India's creativity, innovation, competitiveness, and economic progress. It is crucial that IPRs are created in India, then legally safeguarded and utilized given the spectacular expansion of the Indian economy. The development of intellectual property in India has been hampered by inadequate understanding of people' rights to protect their ideas and creations as well as by limited awareness of the processes necessary to establish an IPR.

Awareness of Intellectual Property Rights for Future Student Innovators:

Increased need for IPRs: Particularly in emerging nations, there is an increase in demand for IP. To safeguard student ingenuity in an era where innovation, international research, and cooperation are increasingly valued, it is essential to educate yourself on intellectual property rights. It is now more crucial than ever for nations to comprehend the significance of IPRs as they work to construct and execute sustainable development. Research is now translated and transformed into services or goods. IPRs assist inventors in market survival and protection. Designers and business owners will get a competitive edge if the ideas are patented and utilized to trade for novices.[3]
Including IPRs in the curriculum: IPRs come in many forms, such as copyright, trademark, design, and copyright, and different elements of them are more frequently debated in the academic world than others. According to experts, pupils should start learning about the Creator's rights at the classroom level. By acquiring knowledge in the teaching profession, it should be included into courses taught in schools and universities since students will eventually enter the professional world where they will acquire and use intellectual property rights.

Intellectual Property and Entrepreneurship:

It is crucial for everyone to defend their opinions. Securing this funding is crucial for business owners. Systems for protecting intellectual property (IP) can be crucial in assisting start-up businesses in converting their creativity and potential for innovation into market value and competitiveness. Intellectual property rights (IPR) can be utilized to safeguard a concept's innovation, design, and brand identity. In a manner akin to owning tangible assets like a home or vehicle, it grants the inventor complete ownership of the idea. Owners have discretion over how their intellectual property is used in exchange for money.[4]

A crucial asset in luring investors or securing finance is intellectual property. Strong intellectual property portfolios are frequently attractive to investors because they show that the company has significant assets that can be sold in the future.

Creation of Awareness About The IP Asset:

The business owner should educate the general public and consumers on who owns what intellectual property and the value of preserving it. Some brands have become so well-known that they run the risk of being used as the generic term for the item or the method. The finest illustration is the name of the procedure, Xerox, which is a trademark held by the Xerox Corporation but carelessly used by customers and the general public. The Xerox Corporation has made a number of steps to inform the public that the term "Xerox" is distinct from the photocopying process.[5]

Legal Protection:

Legal Protection against intellectual property theft or infringement is provided by intellectual property protection. When a company's intellectual property is stolen or duplicated without authorization, the company has the right to file a lawsuit to enforce its rights and recover damages from the offender.[6]

Raising Awareness of IP Among Legal Professionals:

New options are being investigated for resolving disputes, and the rising use of technology has been particularly beneficial for enhancing the IP Ecosystem. As a result, IP owners now have more faith in India's IP enforcement and protection systems. In early years of practise, trouble adopting new technology since lawyers are often less open to it. To offer customers the finest services possible, lawyers now need to be well-versed in the most recent technology due to the ever-evolving technological world. Lawyers are now anticipated to possess greater technological proficiency than in the past. When it comes to preserving and enforcing intellectual property (IP) rights, each industry poses particular difficulties. Historically, conventional enterprises made up a larger portion of our clientele; but, in recent years, clients from the more technologically advanced and creative industries have increased. Learning about cutting-edge and distinctive goods and services is one of the most interesting elements of the profession since new firms constantly spring up that need the assistance of IP legal professionals.[7]

Conclusion:

In order to maximize the commercial potential of IP, it is crucial to protect it. to assess and grasp the academics in India's knowledge of intellectual property rights (IPR). The most crucial factors are the level of IP awareness among Indian academics, understanding whether their current understanding of IP is useful for commercialization, and determining whether their current understanding of IP activities is sufficient to support their careers as academics and to profit from their inventions.

References:

[1] Dcmsme.gov.in/schemes/ipr10.pdf [2] IPbulletin.in/awareness-of-intellectual-property-rights/ [3]Researchgate.net/publication/313371926_Intellectual_property_rights_IPR_awareness_among_undergraduate_students [4] Alanet.org/intellectual-property-legal-professionals [5] coursera.org/learn/intellectual-property-for-entrepreneurs [6] Alanet.org/intellectual-property-legal-professionals [7] superlawyer.in/increasing-awareness-about-ip-rights-is-crucial-because-it-helps-individuals-and-businesses-understand-the-value-of-their-intellectual-property-and-how-to-protect-it-omesh-puri-partner-lexorbis/