Paper Details
Paper Code: CP01V12023
Category: Research Papers
Date of Publication: December 06, 2023
Citation: Ms. Kongkona Bordoloi, “Global Perspectives and Evolution of Concepts Related to Intellectual Property and Business”, 1, AIJIPCA, (2023).
Author Details: Ms. Kongkona Bordoloi, Guest Lecturer, Dr. R.K.B Law College
ABSTRACT
In the Technical Session ‘V’ named ‘Global Perspectives and Evolution of Concepts related to Intellectual Property and Business’ the paper revolves around the significant aspects of the applicability of Article 27.2 of TRIPS to genetically modified organisms, abstract ideas of historical evolution of intellectual property, bridging between commercialization and conservation for sustainable utilization of biological resources, intellectual property as a tool to foster FDI, collision of AI with patent law, emerging areas of intellectual property rights protection, global policies and avenues for doing businesses, a vision on the growth of start-ups in India, moreover a socio-legal study on the trade secrets of Bodo Traditional clothing. Thus, this paper analyses the diverse perspectives and concepts in relation to Intellectual property and Business as well as examines how Intellectual Property Rights as a business tool build awareness and improve the availability of protection to the innovators as its prime concern.
KEYWORDS
TRIPS Agreement, bio-logical resources, For-eign Direct Investment, Artificial Intelligence, Start-ups, trade secrets
Introduction
In today’s competitive environment, innovation is the mainstay for every business that leads to the development of intellectual property. Identifying, developing, and leveraging innovation provides competitive edges and aids in the long-term success of the company. Intellectual property is not limited to technology companies but is valuable for every business that invests huge sums in research and development for creating indigenous products and services.[1] This paper is intended to disseminate awareness on the role of IPR in protecting the rights of the creators/ inventors and thereby act as a catalyst for the expansion of IP in different disciplines of human civilization. Moreover, it is also intended to discuss the impact of IP on the socio-economic development of a country and thereby stimulate innovations. At the same time, the dynamics and complexities of the corporation are ever-increasing. Thereby various factors have necessitated regular review and amendments in the existing legal framework and business world.
The paper presenters of this Technical Session ‘V’ are the accumulation of various authors from all over India namely Mrs. Swapanil, Central University of South Bihar, Gaya, Bihar; Mrs. S. Syed Ali Fathima Nisha, Crescent University; Mr. Jayanta Boruah, NEHU, Shillong; Mrs. Archana P, Inter-University Centre for IPR Studies, CUSAT; Mr. Hrishikesh Rajkhowa, J.B. Law College, Guwahati; Mr. Poujiabthai Gangmeih, NEHU, Shillong; Mrs. Runa Sarmah, Jorhat Law College; Ms. Bhagyashree Das, Department of Law, Tezpur University and lastly, Ms. Preeta Brahma & Prof.(Dr.) Annam Subrahmanyam, Vel Tech Deemed University, Chennai.
Intellectual property rights have great importance in the growth of a country. Intellectual property law is different in all countries. In many developed countries, strict enforcement of the IPR role has a huge contribution to economic growth. IPR promotes innovation which leads to economic growth. Nowadays, every business in the world is the creation of innovation. The current era has realized the importance of IPR laws. It is not only innovation but also the name that matters in today’s world. The name carries huge value in the form of goodwill. Some companies just sell their name in exchange for a huge amount of money. Intellectual Property rights have a great influence on the financial improvement of a nation. The IPR can play both negative and positive growth in economic development. This paper analyzes the role of Intellectual Property rights in the economic conditions of businesses. This paper studies the relationship between IPR and the business sector. It is very important to protect the interest and rights of people to evolve in innovation and creation which is directly linked to the development and growth of the country.[2]
Analysis of the Key Concerns
In this Technical Session V, almost nine papers were presented in the seminar under the theme named “Global Perspectives and Evolution of Concepts related to Intellectual Property and Business”. At first, the paper titled “Patent Protection to the Environment: An Application of Article 27.2 of TRIPs to Genetically Modified Organisms” was presented by author named Mrs. Swapanil. The paper highlights that the modern world is a sphere of technological advancement. Biotechnology is an agglomeration of various technologies where one is recombinant DNA technology or genetic engineering the biggest revolution that has happened in the modern world. Recombinant DNA technology is the art of manipulating an organism’s genetic material to achieve a desired result. Countries have their own patent laws that provide patent protection for genetically modified organisms (GMOs). International treaties such as Trade Aspects of Intellectual Property Rights (TRIPs) assume patent protection for GMOs. According to the TRIPS agreement, interested countries allow curbing the development of dangerous technologies such as “Terminator Technology”. Therefore the main challenge is the reduction of environmental damage which cannot be done within one country, so cooperation between them is needed. Article 27.2 of TRIPs encourages the development of more beneficial GMOs while preventing Member States from rejecting patents for environmentally harmful inventions. So, the most relevant issue is Article 27.2 which explains some exceptions to the patentability of inventions. Moreover, clause 27.2 is ambiguous and the standard is encrypted. In general, Article 27.2 of TRIPs raises many practical questions. Thus, according to my analysis, this paper discusses the interpretation of Article 27.2 and applies that interpretation to genetically modified organisms, highlighting the phrase “serious environmental damage” because people have a moral obligation to protect the environment for future generations. Therefore, there should be a clear interpretation of Article 27.2 which is required to prepare for the future. Moreover, conflicting policies of different countries can have a negative impact on the environment.
Secondly, the paper titled “Evolution of the Concepts of Intellectual Property and Business Studies; Historical Perspectives” was presented by author named Mrs. S. Syed Ali Fathima Nisha. This paper explained the concept of intellectual property to a company’s or individual’s collection of intangible assets that are legally protected from unlawful use or application. Moreover, an intangible asset is characterized as a non-physical asset owned by a firm or individual. It emphasizes the equal protection of human intelligence with that of physical property.
Thus, intellectual property is owned and legally protected by a person or company from outside use or implementation without consent. This paper highlighted the legal safeguards of tangible and intangible property in most industrialized economies. It studied about the first records of Intellectual Property that was from Sybaris in Ancient Greece around the 6th century BCE. Therefore according to my analysis, this paper gave a comprehensive study on the evaluation of intellectual property from the national and international perspective and the future potential of India in the field of innovation.
Thirdly, the paper titled “Linking Commercialization with Conservation for Sustainable Utilization of Biological Resources under International Legal Perspective” was presented by author named Mr. Jayanta Boruah. This paper revolves around the central idea of the conservation of biodiversity across the Globe as biodiversity is always prone to misuse and loss. The main step required is the initiation of measures for the conservation and preservation of biological resources through limiting commercialization by the conscious world fraternity. However, the main challenge is that complete or absolute de-commercialization is not possible for human survival.
Therefore, the measure adopted to mitigate this challenge is the regulation of commercialization of Biological resources in a sustainable manner. It studied about the UNCTAD initiative framework for Bio-trade attempts to combine the normative framework of CBD, SDG, and MDG and at the same time supports the UNCCD, CITES, and the Ramsar Convention. Therefore, according to my analysis, this study tries to establish relationship between the conservation and commercialization of Biological Resources and the strengthening of the incentives and implementing sustainable practices about the impacts of Bio-trade on species as well as ecosystems.
Fourthly, the paper titled “Intellectual Property as a Tool to Foster Foreign Direct Investment in Indian Pharma Sector” was presented by author named Mrs. Archana P. This paper studied the importance of Foreign Direct Investment (FDI) for fostering development in the pharmaceutical industry of the country. It emphasizes the need to increase greenfield investments and reduce brownfield investments for better advancements, innovation, and technology in every sector where there is a market open for FDI. This paper mainly focuses on highlighting the importance of the health sector which is dependent on a strong pharmaceutical sector through FDI. It tries to bring in the need for intellectual property to act as a tool for fostering FDI in the Indian Pharma Sector. Therefore, according to my analysis, the main motive of this paper is to examine how FDI is important for the Pharma sector and the need for its improvement through infrastructure, technology, skilled professionals, and other parameters necessary for strengthening public health.
Fifthly, the paper titled “When Artificial Intelligence Collides with Patent Law: A Study Based upon WIPO’s Draft Issue Paper, 2019” was presented by author named Mr. Hrishikesh Rajkhowa. The paper revolves around the issues put forward by WIPO in situations when AI collides with Patents in the field of IP rights and AI-based computer-generated works (CGW) in the field of Intellectual Properties. As such the paper enumerates how WIPO in the year 2019 formulated a WIPO Technological Trends Report to portray the future of AI along with warning the global policymakers thereby publishing of Draft Issue Paper on the aforementioned issues leading to discussions and thus inviting ideas and comments from widest possible audience. Thereby the author undertakes to examine the impact of AI on the existing patent system and to find out solutions to the problems addressed in the Draft Issue Paper. Therefore, according to my analysis, the main point of this paper is that there is a need for a proper mechanism to examine the present legal standard of innovation and also to evaluate the patent eligibility standard. Further, emphasis is to be laid on the analysis of liability issues in independent AI infringement.
Sixthly, the paper titled “Emerging Areas of Intellectual Property Rights Protection: An Overview” was presented by author named Mr. Poujiabthai Gangmeih. The paper studies about the creation of new landscapes in intellectual property in the 21st century as to how mankind has been able to conquer outer space and pave the way for developmental activities involving intellectual property. This poses an inevitable question as to whether there are sufficient legal frameworks to grant protection to intellectual property in outer space by the existing international outer space law and intellectual property law. This paper examines the provisions of outer space law as a region where appropriation by the state is prohibited by international law and if there be any research and exploration, it must be carried out for the benefit of mankind and is based on the principle of ‘res communist’ whereas intellectual property laws are based on territoriality, which grants protection to the creator within the territorial boundary of a state by national law. Therefore, according to my analysis, the paper highlights the protection of outer space activities with reference to patents and copyrights but in reality, there are various conflicting stances as patent protections of space invention are recognized by some states based on their national legislation and agreement and some don’t.
Moreover, same goes for copyrights in relation to remote sensing databases received a mixed response under the present regimes. Thus, there is a want for a specific legal framework that may provide for the balancing of socio-economic justice with that of intellectual property rights concerning space activities internationally.
Seventhly, the paper titled “Global Policies and Avenues for Doing Business, Foreign Investments, World Economic Order, Global Flow Currency, Blockchain, Cryptocurrency, etc was presented by author named Mrs. Runa Sarmah. This paper focuses on the blockchain technology crypto currency which has gained worldwide popularity and formed a new sphere of public relations that requires regulations and control from the government. It points out the fact that the absence of regulations creates uncertainty for industry players, opening them to unforeseen liability with enforcement authorities. Thereby, in the absence of any clarifications issued regarding how FEMA or any other law in India may touch upon the business of crypto asset services, it is a challenge and difficult for these businesses to navigate such frameworks autonomously. Therefore, according to my analysis, this paper throws light on the special features of blockchain technology functions and legal regulations in the Indian crypto market and various other countries. As the future of the crypto market is promising and reveals more opportunities to bring positive changes and progress to the e-business and e-payment sector there is requirement for strong regulations of business laws to deal with smart contacts and special laws to deal with digital assets.
Eighthly, the paper titled “Growth of Start-ups in India: A Vision of “Atmanirbhar Bharat” was presented by author named Ms. Bhagyashree Das. The paper mainly concentrates on the multiple reforms of the Government of India launched under the Atmanirbhar Bharat campaign which aims towards improving the business climate in India. India has emerged as the third largest start-up ecosystem in the world after the US and China. It highlighted about the importance of making India self-reliant through Atmanirbhar Bharat to be competitive globally. It also throws light upon the advantages of having this mission which empowers local manufacturing, constructing local supply chains, and converting local products into global brands. Therefore, according to my analysis, the major findings of this paper are true that Indian start-ups and innovators play a vital role in the success of the mission as the mission itself has helped to overcome the crisis of the pandemic by being self-reliant towards achieving the agenda of Global village and the development of local business start-ups in the nation.
Ninthly, the paper titled “Trade Secrets for Bodo Traditional Clothing: A Socio-Legal Study” was presented by authors named Ms. Preeta Brahma and Dr. A. Subrahmanyam. The paper is centralized upon the study of the applicability of trade secrets in matters of traditional knowledge, legal protection, and recognition to the Bodo handloom weavers and the option of a suitable market to the traditionally weaven Bodo dresses with the presence of fair competition mainly concerning the Bodo handloom weavers of Dumbazar and Kumguri villages under Gossaigaon sub-division and Legislative Assembly constituency of Kokrajhar District, Assam.
It mainly spotted out the flaws in the existing IP laws that are incapable of providing inclusive protection to traditional knowledge. Moreover, precisely trade secret grants protection to the owners against the unfair use of information, and misappropriation of confidentiality. But India must ensure effective legal remedies to protect the interest of the people who created or originated an item by putting their skill and labor. Therefore according to my analysis, the major finding is that there is an immediate need to enact regulations so that India is adequately safeguarding the trade secret for fair competition in the market. Also, it is an agreed fact with the author that as far as the existing traditional knowledge is concerned, trade secret is limited as it does not protect outsiders and hence trade secret is not a comprehensive one to address the problem of traditional knowledge holders. Alternatively, it is suggested that local customary law is the best way to inclusive protection of the Bodo traditional clothing and also to ensure socio-legal justice for the weavers.
Suggestions
Although, there is some theoretical and descriptive work has already been done on the impact of intellectual property rights on business/trade, yet, there is no empirical evidence on whether, how, and to what extent India’s business is sensitive to national and international differences in intellectual property rights. Thus, it needs an in-depth study of Indian business in the light of IPRs to formulate a strategic and regulatory framework that can create a conducive environment for having a positive trade balance and thus promote economic development. In fact, there is requirement to analyze the impact of IPRs on India’s trade. Therefore, it needs more systematic analysis and empirical testing in the field of crucial and worldwide importance.
Moreover, it can be said that a strong intellectual property protection is the main obligation in attracting knowledge-related or technological advancements in the business arena for further economic development. Thus, the government must adopt trade-promoting policies which expectedly will give a boost to IPRs.
Conclusion
In conclusion, it can be said that IPRs have a significant and stable long-run impact on Indian Trade and business. So, the need of the hour is to bring more amendments in IP laws so that the same can help the business to become more competitive and manage IP-related risks to protect innovations, increase visibility, distinguish business from the competition, access technical and business information, and avoid the risks of third party.[3] Hence, there is a need to give further impetus to trade the categories of IPRs for the growth of the Indian economy. Furthermore, this paper concludes by establishing the essential link between IP and innovation (business and innovation), by reviewing the papers of various authors in relation to the aforementioned theme about how robust IPRs benefit all nations (developed and developing alike) and by explaining why robust IPRs are essential to maximizing IP a legitimate and fundamental component of trade agreements and global trade governance to achieve greater levels of innovation.
[1] Relevanve of Intellectual Property for Business, The Economic Times, available at: <https://m.economictim es.com/small-biz/legal/relevance-of-intellectual-prop erty-for-business/articleshow/49563911.cms> accessed 2 August 2022
[2] The Role of Intellectual Property Rights in Economic Development, Khurana & hurana, available at: <www. khuranaandkhurana.com/2021/03/10/the-role-of-intell ectual-property-rights-in-economic-development/?amp =1> accessed 2 August 2022
[3] Why Intellectual Property is Essential for Your Business, WIPO, available at: <www.wipo.int/sme/en> accessed 2 August 2022.
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