Intellectual Property Rights Meaning Intellectual Property is the creations of mind such as inventions, innovations, literary works, artistic works, designs, symbols, names, and images. Intellectual Property Rights are given to the creators for a certain period. Why to get IPR? • To protect our creations - Others cannot use our work without our permission. • Creators (inventors / innovators) get due recognition & they can commercialise their creations (new technology / new product/ new process / new service) for the development of the economy. • The creators can get incentives (Royalty) from the person who is using their rights by giving a license to them. • Availability of genuine products is ensured Types of IPR 1. Patents: Patents are governed by The Patents Act 1920. It is a right given for inventions and innovations. Invention is different from discovery. Highlighting a concept or a this already existing is called discovery. Whereas, invention means finding out something which is new. Example: Newton found that apple fall and discovered gravity whish is considered as discovery. Invention means creating a novel or something unique. Example: Alexander Graham Bell invented telephone. All inventions begin with an idea which should be novel, non-obvious and should have industrial applications. Once the idea is converted into a product, the inventor can apply to the Government of India for patent right. The Patent Office examines the application form and checks the legal aspects and verifies whether the invention or innovation fulfils the other criteria such as novelty, non-obvious and industrial applicability and then grants patent rights. This patent right is given for 20 years after which, the invention can be used by anyone. During this 20 years, the inventor can commercialise his inventions by granting licence to persons who need the product in consideration for a fee known as royalty. 2. Copyright It is a right given to vreators of literary works and artistic works like books, music, paintings, sculpture, films, computer programs, data bases, advertisements, technical drawings, graphical designs, photographs etc. Copyrights are governed by The Copyrights Act 1957. Registration is not mandatory for copyright. After finishing the book, copyright will be assigned as default. But it is better to register for copyright because in future it would be very difficult to prove that it is our work. Copyrights are given for 60 years. 3. Trademark Trade mark is any word, name or symbol or combination of all these aspects which help a customer to differentiate the products. Tade mark is governed by The Trade Mark Act 1999 and is granted to protect any sign, symbol, words, design, shape of goods, packaging, brand name, slogans, logo, sound in ads (or ) film production companies like Disney. Example: Roaring of Lion in MGM, ` 4. Design This right is granted to protect the appearance of a product. The colours, shapes, lines, contours, texture, and patterns of the product are also protected by Design Rights Act 2000. This right is valid for 15 years. 5. Geographical Indications It is given for products based on the place of origin. This right is given for the products that are popular in a particular place. This right can be applied only by any association of persons, producers, organisation or authority established by Law. This right is given only for 3 products, namely, agricultural products, food products and handicrafts. The GI is governed by Geographical Indications of Goods Act 1999. Example: As the Electric Wet Grinder was invented in the Coimbatore, this city naturally emerged as a center for the manufacture of wet grinders. In 2005, the Government of Tamil Nadu applied for Geographical Indication for Coimbatore wet grinder. The Government of India recognized it as a Geographical Indication officially since the year 2005-06. Other examples are Dindugal Lock, Tirupathi Laddu, Kovilpatti Kadalai Mittai, Thanjavur Doll etc 6.The Semiconductor Integrated Circuit Layout Design Act 2000 Any person who wants to register his layout-design is required to apply in writing to the Registrar Semiconductor Integrated Circuits Layout-Design Registry in the concerned territorial jurisdiction, as per the procedure prescribed in the SICLD Act, 2000. This Act prohibits the semiconductor integrated circuit layout designs which are not original. An integrated circuit also known as chip or micro chip or microelectronic circuit is a semiconductor wafer on which thousands or millions of tiny resistors, capacitors, diodes, and transistors are fabricated. These chips are not only found in computers but also in all electronic devices like mobile phones, cars, amplifiers, network switches, washing machines, micro wave ovens, toasters, televisions etc. 7. Other IPRs are Trade Secrets like secret formula for manufacturing a product, Traditional Knowledge such as applying neem, turmeric which are antiseptic and Plant Varieties (Protection of Plant Varieties of Plant varieties and Farmers Right Act, 2001) Example: Washing Machine Semiconductor Integrated Circuit Layout Design Mother Board – Printed Circuit Board (PCB) with electrical parts for controlling washing machines – Brain of the Washing Machine. Trade Mark – LG Washing Machine Patent Design Copyrights Programming Language – Linux based – ( C ) Operating System (Programme initially loaded into the computer- Soft Real Time Operating System (Soft RTOS) in washing machines

Entrepreneurship Meaning The word ‘entrepreneur’ is derived from the French word “enterprendre” meaning to undertake. So, entrepreneurs are persons who undertake the risk of doing something new. Entrepreneurship consist of all the activities of developing and managing a new business venture by taking risks in the corporate digital world and solving the problems faced by the society through technological innovations. It is the ability to develop, organise and run a new business enterprise to earn profit Need for entrepreneurship in today’s fast changing world Today the biggest challenge before the youth in India is to make our Country an economic global giant. 1) Entrepreneurs solve problems and challenges faced by the people through technological innovations. Example: Tartan Sense, a Bangalore based Startup introduced an AI-based Robot for using in farms to remove weeds. This reduced chemical usage and helped farmers to avoid unnecessary costs. 2) Entrepreneurship increases the GDP & generates employment. When a new business is launched, production will increase and more people are to be recruited to run the business along with the entrepreneur. As the business grows, more branches are to be opened, & more people are to be recruited. (Rate of economic growth should be between 8-9% to decrease unemployment rate) 3) Entrepreneurship improves the standard of living of the entrepreneur, employees and customers (by giving solutions to customers) 4) Entrepreneurs conduct research continuously as they give priority for Research & Development. They also fund educational institutions to conduct research in order to introduce innovations and to promote startups. You may raise two questions. • Why should we think of becoming an entrepreneur? • Why not work in an organisation which offers job security? Two factors namely, pull and push factors motivate a person to become entrepreneur. Pull Factors: Following are the factors that pulls a person to become an entrepreneur: • Dissatisfaction in the present job • No increment • No chances for using our skills • Conflict between superior and subordinates • No freedom to work • Lack of recognition • Lack of promotion • Getting a job in a government organisation and in a private sector is a difficult task as the graduates could not fulfil industry’s skill requirements. • Closure of the organisation due to loss Push Factors: Following are the factors that push a person, that is stimulates the desire of a person to take up a business venture: • Desire for self-fulfilment • Desire to increase the wealth • Desire to think creatively and innovatively • Desire to work as a part of a good team and to solve problems and challenges faced by the people through technological innovations. • Desire to work independently • Desire for self esteem • Desire for achievement and self-actualisation • Desire to give employment opportunity to others instead of relying on others thereby can contribute significantly for the development of the country • Desire to start a similar enterprise at a small level Entrepreneurship would be a better career option for young minds who are ready to face challenges, take risks, adopt new technology, think creatively, and crave for innovations. All the graduates can’t become entrepreneurs. But they should inculcate in them entrepreneurial skills and qualities that would enable them to either take up entrepreneurship at a small level that is Start Ups (or) get placed in dignified positions in a reputed organisation as an intrapreneur (Chief Executive Officer).