Written by: Heemani Agarwal, Intern, AMA

Ever had a brilliant idea that nobody had ever thought of? That’s intellectual property (IP)!  Think of anything that takes birth from your intellect, be it inventions, designs, or creative works. WIPO, the World Intellectual Property Organization, the governing body of Intellectual Property works to protect these creations.

According to WIPO, Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.

Here are some key types of Intellectual Property:

Patents: Shield new inventions for a set time.

Copyrights: Guard creative works like books or music.

Trademarks: Protect logos and brand names.

IP protection lets you control your work, potentially earn from it, and stop unauthorized plagiarism.

We recently had Intellectual Property Summit (IP) 2024 at AMA, where we had a special talk by Justice Manmohan Singh, a former Delhi High Court judge and Chairman of the Intellectual Property Appellate Board (IPAB), who highlighted the significant evolution of intellectual property (IP) and its cases. The trajectory of growth in this area extended until 1940 when India introduced the Trademark Act, 1940, drawing inspiration from the British Trademark Act, 1938. Post-independence, the legal landscape saw further refinement with the enactment of the Trade and Merchandise Act, 1958. During the period from 1948 to 1958, injunctions played a prominent role, particularly in cases where identical trademarks were associated with the same business.

In 1999, a pivotal moment arrived with the introduction of a new trademark act, and subsequent amendments took effect from September 15, 2002. These amendments, impacting sections such as separation, nine, eleven, 28, and 29, reflected a comprehensive overhaul. Presently, Justice Singh noted a paradigm shift in legal proceedings, accelerated by the COVID pandemic. All high courts are now conducting IP hearings online, leading to efficient case disposal. Justice Singh expressed optimism for the future, citing discussions with Minister Piyush Goyal, who envisioned a digital transition where legal processes, including arguments, would be conducted entirely online, minimizing physical visits to network offices and enhancing overall efficiency.

What was more intriguing and interesting were the panel discussions that took place after the talk. The first panel discussion was on the topic “IP Generation & Monetization Strategies – Sports, Entertainment & Automobile” where we had multiple prominent panellists

In the discussion, Mr. Nishant Sheokand (Associate Dean and Associate Professor Vinayaka Mosion’s Law School) dived into the intersection of generation and sports activities sports, highlighting a trendy fashion referred to as technology doping. He explained the legal side of it and how sports face different challenges compared to cars and media. He further highlighted the characteristic of intellectual belongings (IP) in controlling technology doping and the manner the enterprise monetizes from experiences, like using Virtual Reality (VR).

Ms. Bindu Shah (Founder BU4 Auto), another outstanding panellist, furnished insights into the area of layout patents and their impact on exclusivity. She emphasized the significance of patented components in fostering collaboration and generating extra income via licensing agreements. She forced the significance of having a legal team that can help navigating the intricacies of IP safety.

Talking about movies and shows, Mr. Suryadeep Basiya (Head – Gujarati Category, Shemaroo Entertainment Ltd) mentioned the evolving panorama fashioned with the impact of artificial intelligence. He shared an example from a trendy conversation with an AI business enterprise in Bangalore, illustrating how movies can seamlessly integrate product placements for monetization. He then emphasised the important characteristic of logos, trademarks, and copyrights at the inception of any movie project.

The panel dialogue underscored the dynamic nature of IP generation and monetization techniques during numerous industries. The use of patents, generation, and prison safeguards emerged as critical elements for corporations aiming to shield their highbrow property at the equal time as exploring new sales streams. As industries preserve to evolve, the collaboration among felony professionals and innovators stays pivotal for sustainable boom.

The second panel discussion was on the topic “IPR: Implications of Emerging Technologies” for which we had a another set of prominent personalities.

In the rapidly changing field of healthcare, new technology is leading to major improvements. Dr. Manish Shah, an orthopaedic surgeon at Shah Hospital, talked about the new advances in orthopaedic surgery that use digital technology to make implants more tailored to individual patients and surgeries more precise. This new approach should greatly improve patient results and satisfaction after surgery. He added how the new software allows virtual surgery simulations, making it possible to create custom 3D bone models from CT scans, ensuring a perfect fit for each patient. By using specialized instruments and wearing augmented reality devices, the surgery can be more precise and efficient.

Advances in healthcare are accompanied by increasing recognition of intellectual property (IP) rights. Ms.Lakshika Joshi of Capgemini Engineering emphasized the importance of IP, sharing an example of a medical professor’s teaching innovations that gained international attention. The lack of IP awareness highlighted the need for protection and licensing, demonstrating the value of legal assistance and education in shielding healthcare innovations.

Sandip Singh, CEO of Ishitva Robotic Systems, highlighted the significance of knowledge and understanding for startups. He emphasizes efficient resource allocation and boundary protection, promoting responsible innovation and sustainability. In healthcare, technological advancements are coupled with the need for innovation and IP protection. Partnerships between healthcare professionals, lawyers, and innovators are crucial to ensure responsible development of innovative technologies that benefit society.

As demonstrated by many professionals and experts we can say that IP plays a very pivotal role in protecting and promoting innovations across every industry. Adopting intellectual property (IP) rights allows innovators to excel and drive societal advancement, regardless of their industry. Fostering a culture that values IP, along with providing support and education, ensures that original concepts are acknowledged, protected, and yield benefits for both the creators and society.