THE EFFECTS OF INTELLECTUAL PROPERTY LAWS ON INNOVATION AND CREATIVITY
AUTHOR – AVANTIKA SRIVASTAVA, STUDENT AT INTEGRAL UNIVERSITY, LUCKNOW
BEST CITATION – AVANTIKA SRIVASTAVA, THE EFFECTS OF INTELLECTUAL PROPERTY LAWS ON INNOVATION AND CREATIVITY, ILE WEEKLY REVIEW (ILE WR), 1 (10) OF 2023, PG. 1-5, APIS – 3920 – 0037 | ISBN – 978-81-964391-3-2.
Abstract
Law governing Intellectual Property is essential in fostering creativity and imaginative thinking. Intellectual Property gives inventors and artists the legal tools they need to safeguard their concepts and works, enabling them to make money off of their labor. This therefore encourages further creativity and originality, which is advantageous to both the person producers and society at large. This Article will examine how IP law affects innovation and creativity and explain why it is crucial for companies to comprehend and abide by these regulations. The introduction of the article discusses the basic ideas and varieties of proprietary rights, including trademarks, copyrights, patents, and trade secrets. After that, it explores the theoretical foundations of Intellectual Property laws, emphasizing the need for striking a balance amongst exclusive rights and the requirements of the general public. By providing individuals and organizations with legal protection for their intellectual inventions, property rights (IP) laws play a critical role in promoting innovation and creativity. In this Article, we will investigate the complex linkages among intellectual property regulations and the encouragement of creative and innovative thinking. It offers an overview of how trademarks rules have helped foster creativity and innovation. It examines how these regulations encourage inventors and creators by giving them exclusive privileges for their works, enabling them to make money off of what they create and enjoy the benefits. Additionally, trademark rules encourage the spread of understanding by requiring the release of important information in return for protection, which promotes technological growth and the free exchange of ideas. The report also takes into account any potential adverse consequences of trademarks laws on innovative thinking and creativity. The Article also considers the difficulties generated by electronic and internet-based technology, who have increased the complexity of trademark rules and called for their reconsideration.
Keywords : Intellectual Property, Rights, Law, Innovation, Creativity.