Page 53 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Entrepreneurship and Small Business Management

Notes
Did u know? Intellectual property is divided into two categories: Industrial property, which
includes inventions (patents), trademarks, industrial designs, and geographic indications
of source; and Copyright, which includes literary and artistic works such as novels, poems
and plays, films, musical works, artistic works such as drawings, paintings, photographs
and sculptures, and architectural designs.

Rights related to copyright include those of performing artists in their performances, producers
of phonograms in their recordings, and those of broadcasters in their radio and television
programs.
1. The term Intellectual Property (IP) reflects the idea that its subject matter is the product of
the mind or the intellect. These could be in the form of Patents; Trademarks; Geographical
Indications; Industrial Designs; Layout-Designs (Topographies) of Integrated Circuits;
Plant Variety Protection and Copyright.

2. IP, protected through law, like any other form of property can be a matter of trade, that is,
it can be owned, bequeathed, sold or bought. The major features that distinguish it from
other forms are their intangibility and non-exhaustion by consumption.
3. IP is the foundation of knowledge-based economy. It pervades all sectors of economy and
is increasingly becoming important for ensuring competitiveness of the enterprises.

Following are the various components of intellectual property rights:
4.1.1 Copyrights

Copyright is a form of intellectual property protection granted under Indian law to the creators
of original works of authorship such as literary works (including computer programs, tables
and compilations including computer databases which may be expressed in words, codes, schemes
or in any other form, including a machine readable medium), dramatic, musical and artistic
works, cinematographic films and sound recordings.
Figure 4.1: Symbol of Copyright

Source: http://cdn.differencebetween.com/wp-content/uploads/2010/12/copyright.jpg
Copyright law protects expressions of ideas rather than the ideas themselves. Under section 13
of the Copyright Act 1957, copyright protection is conferred on literary works, dramatic works,
musical works, artistic works, cinematograph films and sound recording. For example, books,
computer programs are protected under the Act as literary works.

48 LOVELY PROFESSIONAL UNIVERSITY