Emerge, the Entrepreneurship and Innovation wing of Young Indians Mysuru celebrated GEW by organizing three programs.
Intellectual Property for Startups
Khyati Bhatt, IPFC, CII
Intellectual Property (IP) refers to the creations of the human minds for which exclusive rights are recognized. Innovators, artistes, and business owners are granted certain exclusive rights to a variety of intangible assets for a specified duration.
Business owners are granted exclusive rights on the use of their trade marks and geographical indications which were established by them;
Creative artistes are granted copyrights on musical, literary, dramatic and artistic works for their creations; while
Innovators are granted protection for their patents, industrial designs, trade secrets, confidential information, and layout-designs of integrated circuits for their innovations.
IP is an intangible asset to a company. It gives business partners and financial institutions the confidence to invest in or collaborate with the organization.
In addition to protecting their creation, business owners can maximize the value of their IPs in many ways. They can franchise, license out or transact their IP.
Khyati explained the basic types of IPs and how we can protect them. There are 8 types Intellectual property(Creations of the mind).
What is a patent?
A patent is a right granted to the owner of an invention that prevents others from making, using, importing or selling the invention without his permission.
A patent able invention can be a product or a process that gives a new technical solution to a problem. It can also be a new method of doing things, the composition of a new product, or a technical improvement on how certain objects work.
Once you register a patent, apart from using the patent to prevent others from exploiting your invention, you can employ it to raise funds for your business, license it to third parties for commercial returns or sell the patented invention.
For an invention to be patent able, it must, in general, satisfy three key criteria:
1. New – The invention should not be publicly known in any way, anywhere in the world.
2. Inventive step – The invention must be something that represents an improvement over any existing product or process that is already available.
3. Industrial application – The invention must be useful and have some form of practical application. It should be capable of being made or used in some form of industry.
The following is not a patentable invention:
An invention of a method for the treatment of the human or animal body by surgery or therapy, or of a diagnosis practiced on the human or animal body.
An invention that could encourage offensive, immoral or anti-social behavior, even if it satisfies the key criteria for patents.
Volt vs Bolt, Bajrangi Bhai Jaan, Faber castle vs Cello and other such cases were discussed.