**2.2 Copyright and related rights**

Copyright/author's rights—A legal term to describe the rights conferred for novel literary and artistic works created by an author/creator. Inventions that come under copyrights include books, musical compositions, portraits, films, computer programs, information databases, commercial advertisements, geographical maps, technical drawings, etc. Exhaustive lists of works covered by copyright are usually not to be found in legislation.

The two kinds of rights covered under copyright include:

**Economic rights:** It allows the owner to produce monetary rewards from the application of respective works

**Moral rights:** It protects the non-economic interests of the author(s). The economic rights the owner of a work can exclude or allow:


The Berne Convention is a landmark in copyright protection, where the copyright is granted automatically without registration. Most of the nations have a systematic structure for the registration of innovative works. Such registration arrangements can assist in resolving disputes over ownership or creation and facilitate the financial transactions and/or transfer of rights [3].

## **2.3 Trademark**

A trademark is a "distinctive sign" that identifies certain goods or services as those produced or provided by a specific person or enterprise. Trademarks may be obtained for the brand name of a particular product or service.

The significance of trademark is mentioned as follows:


#### **2.4 Registered design rights**

Industrial designs constitute the esthetic aspect of designs. It comprises of 2D and 3D structures of articles. The owner of registered design rights prevents others from making, selling, licensing, and importing or copying the designs. The industrial design concerns more the aspect and esthetic of the device and also in the life sciences and biotechnology field.

WIPO is an organization for intellectual property (IP) services, policy

*Patents as a Yardstick for Economic Growth: Case of Indian R&D System*

192 member states. WIPO is established with under mentioned committees:

i. **The governing bodies:**

*DOI: http://dx.doi.org/10.5772/intechopen.92605*

PCT Union Assembly)

iii.The WIPO Conference

ii. **The permanent committees:**

iii.**The standing committees:**

**4. India and IP system**

ii. The WIPO Coordination Committee

i. Program and Budget Committee (PBC)

iv. Advisory Committee on Enforcement (ACE)

Geographical Indications (SCT)

iv.Committee on WIPO Standards (CWS)

The country signed different pacts to be included with:

• Patents: India's Patents Act of 1970 and 2003

• Geographical Indications of Goods Act, 1999

• Industrial designs Act, 2000

Make in India program.

**83**

i. Standing Committee on the Law of Patents (SCP)

formation and implementation, etc. This agency of the United Nations is supported by

ii. Committee on Development and Intellectual Property (CDIP)

Resources, Traditional Knowledge and Folklore (IGC)

iii. Intergovernmental Committee on Intellectual Property and Genetic

ii. Standing Committee on the Law of Trademarks, Industrial Designs, and

iii.Standing Committee on Copyright and Related Rights (SCCR)

India is a significant member of World Trade Organization (WTO) from 1995. It was a connection established to establish harmonization with IP standards [4].

• The Berne Convention, Copyrights Act, and Information Technology Act, 2000

The National Intellectual Property Rights Policy is established in compliance with WTO's (World Trade Organization) agreement on TRIPS (Trade Related aspects of IPRs) aims to sustain entrepreneurship and to enhance the capabilities of

i. The WIPO General Assembly and member states of each union (e.g., the

#### **2.5 Geographical indications**

The geographical indications (GIs) are the signs used on the products that have some specific place of origin. The quality and characters of a product must be essentially due to its place of origin. It includes agri-products, foods, alcoholic drinks, handicraft items, and industrial products.

#### **3. Implication of World Intellectual Property Organization (WIPO)**

Established in 1970, the World Intellectual Property Organization (WIPO) is an international organization that ensures the maintenance of rights of inventors and owners of intellectual property worldwide, and they are appraised monetarily for their originality [4]. This international agency is recognized as an agency fostering creations of innovators, thus assisting the scientific world and literature. WIPO provides an edge to the dynamic industrial world by facilitating several revolutionary measures to international trade. WIPO acts meticulously with its member nations toward a guarantee that intellectual property system remains firm and in the benefit of IP assets across the globe.

Intellectual property (IP) rights are recognized as the yardstick of technoeconomic growth of the country. This is because IP is directly proportional to the R&D divisions of the economy. Patents are a critical competitive arm in this cutting-edge competition, and a huge investment is needed for promoting and nurturing IP. Envisaging such facts, government's role, and initiative for an exhaustive environment are needed which would encourage innovation and commercialization [5]. In short, the economic benefits of the patent system are derived from its roles in promoting innovation and encouraging investment, economic growth, knowledge sharing, and the efficient use of resources.

In 1994, the General Agreement on Tariffs and Trade (GATT) conducted the Uruguay Round for international trade negotiations in line with Trade-Related Aspects of Intellectual Property Rights (TRIPS). Substantially, the member nations of World Intellectual Property Organization (WIPO) in 2000 agreed with the Patent Law Treaty. TRIPS transformed the regulation and the Patent Law Treaty, which primarily focused on rationalizing the procedural reforms.

WIPO is an organization for intellectual property (IP) services, policy formation and implementation, etc. This agency of the United Nations is supported by 192 member states. WIPO is established with under mentioned committees:
