Operative Strategy to Protect Your Intellectual Property in India
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Are you among people who own businesses exporting to or operating in India or who are considering it as a future market? Note that your Intellectual Property (IP) is a valuable business asset, and in an emerging market such as India could be your main competitive advantage. Hence, you should have an IP management strategy that identifies all of your IP to protect them and extract profit from them.
India has been operating as a member of the World Trade Organization (WTO) since 1995. Therefore, it is common to find similarities between the IP Law of India and that is in force in the UK. India is also a signatory to several international treaties on Intellectual Property Rights (IPRs) like trademarks, patents, and Industrial Designs, which can be protected through registration. Enforcement procedures of these rights are taken care of by the Indian courts that can provide interim remedies like injunctions in the event of an infringement. The courts can even instruct perpetrators to accounts for monetary or other profits generated from infringement.
Registering IPRs in India
Intellectual Property Protection is jurisdiction-specific. It means the registration of IP in India is essentially required even if they are already protected in the UK. Considering backlogs at the IP registries, registration of trademarks, copyrights, patents, and others could take months or years. So the businesses should plan to register their IP prior to entering the market. Indeed, even the experienced IP Attorneys suggest that the owners should register their IP as soon as they could.
IP Enforcement in India
In India, there are three IP enforcement channels, including police, customs, and judiciary. Patents and designs can be enforced through civil litigation, whereas trademarks and copyrights can be enforced through any of the criminal or civil litigation. Some remarkable risks with IP enforcement in India are as follows:
- Systematic and capacity associated issues, compounded by lack of awareness regarding IP protection amongst the public
- Judicial delays, where Indian courts can take months or even years to come to a final verdict. However, they can grant interim injunctions that offer immediate relief to the rights-holders pending the consequences of cases against infringers
- Small players account for several IP infringements. It means that breakdowns, even if small, require sustained and costly efforts to make any vital impact.
A noticeable advantage for the foreign businesses running in India is that the legal system is based on law common to several nations, so the fundamental processes are quite similar.
Checklist for an Operative IP Strategy in India
India is one of the continuously emerging markets that can help new players and already established businesses to make considerable profits, which can then add to their growth and success. Some of the steps you should consider to build an IP strategy that can ensure your growth, along with keeping the IP issues away, are:
Be Meticulous as Prevention is Better than Cure
The foremost thing you should do is to be aware of as much information as possible. Find out local risk reviews, seek advice from IP experts, and go through websites rendering information on IP related subjects. Conduct proper risk assessments and due diligence on individuals, organizations, or any third-party that you will be dealing with either for licensing your IP or anything else. It will provide you with an idea on how to protect your genuine products from being infringed, i.e., copied or sold under a different name or by an unauthorized user.
Secure Your IP Rights
Under the assistance of an experienced IP Lawyer, register your IPRs in India. Since registration could take time, you should plan for the same well ahead of entering the market. Stay careful during the entire process from application to grant of the registration certificate.
Don’t Miss the Dispute Resolution Clauses
Besides including appropriate dispute resolution clauses in legal contracts, you should also consider mediation before defensive action. Reduce risks of infringement by ensuring that your contract is watertight in relation to your IP Rights. Nevertheless, if you still face piracy or violation, then it is better to appoint a skilled attorney who can understand your concern and initiate appropriate legal proceedings.
Build Good Relationships with Helpful Organizations
There are many organizations and individuals that can help you with subjects related to your IP. For instance, suggestions can be acquired from organizations like the UK India Business Council, the UK IPO, and Chambers of Commerce. You may also consult with agents, suppliers, and distributors who conduct similar businesses in India on how to safeguard your IP rights in this nation.
Believe in Constant Innovation
In the emerging economies where a large number of players account for several infringements, constant innovation often acts as a key to protect your competitive advantage. While IP protection boosts innovation, constant innovation provides an added protection against infringers. For more visit: https://www.kashishipr.com/
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