Monday, April 30, 2012

Know Your Rights

World Intellectual Property Day was celebrated in our campus and all the senior school students were part of it. Mr. Nageshwara Rao, VP- Legal and Compliance of GE Capital enlightened us with his indepth knowledge on the intellectual property rights, its relevance today and how the children can use the resources in the legal manner.

One of the child-Vignesh, from grade VIII, has given us a reflection on the event: Intellectual property can be defined as thoughts, ideas and such that have been created with the use of one’s mind. Such property is playing a huge role in today’s competitive world. People are being evaluated on basis of their knowledge and thinking abilities. And this is where visionary Innovators come. These people saw things at ways others didn’t. They did things previously thought impossible. And they changed the world. Be it Thomas Edison, Hedy Lamarr, Alexander Fleming or Steve Jobs. We owe a lot to them. They had intellectual property of the finest kind. So much that people decided to copy them. And this is where Intellectual Property Rights (IPR) comes in.

These rights were introduced so that if someone thought of or created something, it was theirs. They enjoyed all the benefits for it. Ex:- an inventor can sell his idea for money. The idea to this also came when the idea of ownership and human rights prospered. These are some types of IPR’s:
Copyright: This is usually done in written material. It means no one can copy that material without the creator’s permission.
Patent: This bond identifies the owner of the invention and prevents any one else from copying that idea. This is a government bond and can be traded.
Trademark: A logo, phrase or anything such that it identifies a brand or a product. Violation of these result in breaking the law and is subject to penalty.

The reason Intellectual property is so valuable is:
• It can’t be reproduced
• It is one of a kind
• It requires skill that can only be obtained by the person itself
• It can be translated into money
• It doesn’t have a set value
• An entity is valued based on intellectual property

The reason intellectual property is good is:
 Prevents misuse of ideas
 People strive to create something better.

Dr. Nageshwar Rao is an alumnus of National Law School in 1996. After working 6 years as a lawyer for 6 years, he is now a legal advisor at Global Services Limited. Today, on April 27, he gave us a speech on Intellectual property. What I liked about him is that he opened his speech in a unique and creative manner. It was almost as if he has the Intellectual Property himself.

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