Intellectual Property(IP) is the property created by the application of human mind i.e. an intellect. Intellect has an added value in the current scenario of rapid economic evolution. Development depends on whether and how the intellect finds expression. IP is respected under property rights regime. The manner in which products and processes as a result of the intellectual activities are used and disseminated in society is very crucial. Intellectual property rights (IPRs) are expected to encourage innovation and original research by rewarding the inventors. Strong IP is intangible and has a character of non-viral public good. It means that one person’s use of it does not diminish the ability of other person to use it. IP has been generally divided into two main categories viz. a) Industrial Property, and b)Copyright.
Industrial Property consists of rights related to inventions i.e. patents, trademarks, industrial designs, protection of plant variety(PPV&FV) and geographical indications (GI). While copyright protects rights related to the expression of thoughts in the fields of literature, musical and artistic works. IP rights need to fulfil the requirements specified by jurisdiction to get an exclusive right to creator for a specified period of time.
IP Spectra offers effective and economical one stop IP facilitation services to agro based MSME which is as follows