Incentives by the Government of India for promoting Intellectual Property Rights

January 2023

Abstract

With phenomenal growth of the Indian economy, it is vital that Intellectual Property (IP) Rights are generated in India and then legally protected and exploited. IPs are increasingly becoming crucial drivers of social and economic growth by encouraging creativity and innovation. Enforcement of IP is necessary for economic development, especially industries, rely on such IPs. It is essential to provide an incentive for new creations. These incentives come in the form of monopoly rights given to the creator of such IP. Respecting others’ IP is necessary to promote such development. Only when an assurance of rights over the IP generated is given to the creator, one will be willing to generate more such IPs. Not only to the creator but IP is important for consumers as well to identify the products and ensure their purchase with the guarantee of quality. IP activity in India is showing a remarkable upward trend in the last few years with an upswing in the number of IPs filed.

Author

Safir Anand

Senior Partner and Head of Trademarks, Contractual & Commercial IP, Anand and Anand, India

Safir Anand is senior partner and head of trademarks, and contractual and commercial IP, at Anand and Anand. He is recognised as one of Indiaâ€™s top IP attorneys and has over 25 years of experience in advising and representing clients from diverse industries, from fast-moving consumer goods to pharmaceuticals, software, social media, food, media, sports, entertainment, luxury, fashion and government. Safirâ€™s strategic insights, blended with an astute understanding of IP law, makes him one of the most sought-after lawyers of his fraternity providing wholesome solutions to multidimensional business requirements including brand creation; valuation; risk mitigation; licensing and franchising; corporate taxation (evaluation, risk assessment, counselling on various complicated tax problems, and the consequences of new and updated tax laws that affect the clientâ€™s business); brand protection from dilution; commercialisation and monetisation; and due diligence. He currently serves on INTAâ€™s Commercialization of Brands Committee and its first Research Advisory Council. Also serves on INTAâ€™s Global Brand Transactions and Tax Subcommittee. He is also a member of Advisory Group Member for the Business Track- 2023 Annual Meeting Live+. He has also contributed a chapter in a book by INTA which brings together global eminent authors from diverse industries on Business Environment Trends on brand value, brand equity, brand valuation, and brand evaluation. Safir has also joined on invitation an expert group of Confederation of Indian Industry (CII) with an aim to boost the monetization practice. He also sits on the Board of Fashion Design Council of India (FDCI). Recently, he has joined on invitation Indian Council for Research on International Economic Relationsâ€™ (ICRIER). Safir has created a body of seminal thought leadership works with pointed pieces on a variety of subjects ranging from IP in various industries to government policies, from his pen being published in leading IP publications and media alike. Safir has been recognised as the Best IP Lawyer of the Year at the Business World Global Leaders Awards 2021; IAM Strategy 300- The Worldâ€™s Leading IP Strategists for 2022; Managing IP Trademark Star 2022; Enlisted as Elite Practitioner by Asia Law 2023; Trademark Lawyer of the Year at the Legal Era Indian Legal Awards 2021-22; conferred with the International Advisory Experts Award for exemplary performance in the field of Intellectual Property for the year 2022; WTR 1000 Worldâ€™s Leading Trademark Professional since 2015 ; WTR Global Leader 2022,to name a few.

Company

Anand and Anand

Anand and Anand is a leading full-service Intellectual Property law firm, providing end-to-end legal solutions across all facets of Intellectual Property and allied areas. The firm is professionally managed by 31 Partners supported by a management team comprising the CFO and the CIO. With offices in New Delhi, Noida, Mumbai and Chennai, the firm currently employs over 400 people, including over 100 qualified attorneys / engineers. Our legal, scientific and technical expertise in addressing complex IP challenges of all types has been widely acknowledged by our clients, industry bodies, enforcement agencies and leading IP publications. We regularly deal with protection of IP and contentious matters before different forums including the Courts at all levels, the Patent Offices, the Trademark Offices, the Copyright Office, the Design Office, WIPO and the National Internet Exchange of India. We, at Anand and Anand, balance commercial realities with legal pragmatism and offer creative solutions that tackle the root and not merely the symptoms of any problem. We have been instrumental in paving the way for a stronger IP regime and are committed to pushing the envelope when it comes to change in substantive and procedural law and helping clients monetize their intellectual property. Some of the recent laurels received by the firm are as follows: Awarded IBLJ Indian Law Firm Awards - Firm of the Year -IP Enforcement, IP Protection, Licensing & Franchising, Pharma & Life Sciences Awarded MIP Asia Pacific Awards - India Trademark Contentious Firm of the Year Awarded ALB India Law Awards - IP Law Firm of the Year Awarded Luxury law Award 2022 for â€˜Luxury Law Firm of the Year â€“ Independent Law Firmâ€™ Awarded Global Law Experts - Advertising and Marketing Firm of the Year Awarded Leaders League Best Firm in Patent Prosecution & Litigation and Trademark Prosecution & Litigation Awarded Asia Law Profiles 2022 - Outstanding Firm - Intellectual Property, Pharmaceuticals & Life Sciences and Media & Entertainment Awarded Global IP Excellence Awards 2020 by IAM & WTR - Patent Litigation Firm of the Year - India Awarded Global IP Excellence Awards 2020 by IAM & WTR - Trademark Litigation Firm of the Year - India Awarded Assocham IP Excellence Awards - Full Service IP Firm of the Year and Trademarks Firm of the Year WTR 1000 Gold Band Firm Prosecution & Strategy and Enforcement & Litigation Global Law Experts - Advertising and Marketing Firm of the Year Chambers and Partners Top Ranked firm for Intellectual property Asia Pacific Rankings 2023 and Life Sciences Asia Pacific Rankings 2023

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Incentives by the Government of India for promoting Intellectual Property Rights

Abstract

Author

Company

Anand and Anand

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