Licensing/Agreement under IP Law; Reliefs and Remedies
Volume III, Issue III, 2020
This abstract seeks to bring out the study of licensing/ agreement under IP law; reliefs and remedies. Nowadays, License and agreement has been considered as the spine of the MNC’s across the globe. Having an ownership of rights over intellectual property provides plus point in growth of shares, generating profit, leveraging, creating goodwill etc. Nowadays it has been mandatory for all the MNC’s to get it in their name for maintaining inventiveness which leads in speed growth. The simple meaning of intellectual property is “providing someone’s idea, imagination, invention, creation etc. which is in some form that can be protected under any law from being used by someone else without the owner’s permission”. These are said to be legal rights that allows the owner to do exploitation of the creation done.
Intellectual property rights in India are governed under several Acts such as; Indian Patent Act, 1970, Trademarks Act, 1999, Indian Copyright Act, 1957 and Designs Act, 2000. These Acts provide security to the inventor or owner of the intellectual property and if any infringement came in light then it provides remedies.
Licensing/ agreement are the main key aspect of Intellectual property that gives power to the creator of the work to give it to someone else for a certain period of time.
The researchers would like to review all the related articles and data’s of various such incidents and occasions to draw an inference about the present situation that can be helpful in resolving the disputes among the parties that has been taken place by the way of existing laws and what changes are required for maximizing the outcome of such polices.
In the light of above stated research methods researchers would like to attain a conclusion that now is the high time for the concerned authorities, legal professionals, jurists and general mass to discuss about the process of resolving the matters and come out with solutions which is most probably new legislation or better enforcement of existing provisions for ensuring the fact that the state is primarily responsible for taking care of the underprivileged ones and the fact that the justice should be provided to one and all.