India is known as the country of tradition and culture. The diverse range of flora and fauna is the most valuable and the biggest asset of the country. The rural population of our country solely depend upon the traditional and cultural values for livelihood [1]. A very small portion of this traditional knowledge is documented […]
The TRIPS agreement came into effect on January 1, 1995. The TRIPS agreement that is Trade Related Aspects of Intellectual Property Rights includes various categories of intellectual property that are patents, trademarks, copyrights, industrial designs, trade secrets, etc. The privileges granted to individuals and organizations for their originality and advancements are a form of intellectual property. Within a certain amount of time, such rights typically offer the producer an exclusive privilege to use his or her invention. Throughout all levels-statutory, bureaucratic and judicial-the value of intellectual property in India is quite well known. This sets up minimal rules for the treatment and promotion of the rights in the member States that, with a view to reduce distortions and hindrances to world commerce, are expected to facilitate effective and consistent protection of intellectual property. The responsibilities resulting from the TRIPS Agreement correspond to the establishment of basic requirements of security within the legal structures and procedures of the Member States.
Under the Patents Act, 1970, when a patent is granted to a person for some new invention of a product, article or process, then he is conferred with exclusive rights in order to prevent a third party from making, using, selling or importing such invention without the consent of the patentee. This prevents third parties
