The US Chamber of Commerce’s latest International IP Index ranked India 42nd out of 55 countries. The index evaluates the protection of Intellectual Property  rights in 55 of the world’s leading economies, together representing around 90% of global GDP. The report covers everything from patent and copyright laws to the ability to monetise IP assets and the ratification of international agreements.

India’s key areas of weakness as per the Index

the 2021 dissolution of the IP Appellate Board, combined with the longstanding issue of an under-resourced and overstretched judiciary, which raises serious concerns about rights holders’ ability to enforce their IP rights in India and to resolve IP-related disputes. Limited framework for the protection of biopharmaceutical IP rights and patentability requirements which are outside international standards are the other weaknesses.

Bright spots as per the index of India

continued strong efforts in copyright piracy through the issuing of “dynamic” injunction orders; the 2019 precedent case law on online trademark infringement and damages; and generous R&D and IP-based tax incentives.

LEARNING FROM HOME/ WITHOUT CLASSES/ BASICS

Intellectual Property Rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time. Ex. Books, films come under copyright; inventions can be patented; brand names and logos can be registered as trademark.

WTO’s TRIPS Agreement, which came into effect on Jan 1, 1995, is a multilateral agreement on intellectual property. It establishes minimum level s of protection that each government has to give to the intellectual property of fellow WTO members. Consequently India passed the Patents Amendment Act, 2005.

Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture and films, to computer programs, databases, advertisements, maps and technical drawings.

A patent is an exclusive right granted for an invention. Generally speaking, a patent provides the patent owner with the right to decide how – or whether – the invention can be used by others. In exchange for this right, the patent owner makes technical information about the invention publicly available in the published patent document.

A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises.

Nigeria’s Ngozi Okonjo-Iweala, the former Nigerian finance minister and World Bank veteran, on February 15 2021, was appointed as the first female and first African head of the beleaguered World Trade Organization.

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. World Trade Organization, as an institution was established in 1995. It replaced General Agreement on Trade and Tariffs (GATT) which was in place since 1946.

The goal is to ensure that trade flows as smoothly, predictably and freely as possible. it operates a global system of trade rules, it acts as a forum for negotiating trade agreements, it settles trade disputes between its members and it supports the needs of developing countries. Location :Geneva, Switzerland . The WTO has over 159 members