Most often than not, when an person turns entrepreneur armed with his ‘new’ business idea, he and his team gets so immersed in turning the business idea into reality and then a success, that he completely forgets/puts-off the protection of the intellectual property that his business produces. Intellectual property refers to creations of the mind — inventions; literary and artistic works; and symbols, names and images used in commerce. It can be studied under two categories:
• Copyright that covers literary works (such as novels, poems and plays), films, music, artistic works (e.g., drawings, paintings, photographs and sculptures) and architectural design.
• Industrial Property that includes patents for inventions, trademarks, industrial designs and geographical indications.
In a two-part series, we will discuss how, as an entrepreneur, you can protect your copyrights and trademarks. In this section, we will talk about copyrights.
Copyright and its Governance
Copyright is a form of intellectual property protection granted under Indian law to the creators of original works of authorship such as literary works (including computer programs, tables and compilations including computer databases which may be expressed in words, codes, schemes or in any other form, including a machine readable medium), dramatic, musical and artistic works, cinematographic films and sound recordings.
You need to be aware of the following legal aspects in order with respect to your copyrights:
1. Governance: All rules and regulations related to copyrights is governed by the Copyright Act of 1957, further amended in 1994.
2. Copyright Ownership: As per Section 17 of the Act, the author or creator of the work is the first owner of copyright. An exception to this rule is that, the employer becomes the owner of copyright in circumstances where the employee creates a work in the course of and scope of employment.
Copyright Register: Copyright registration is invaluable to a copyright holder who wishes to take a civil or criminal action against the infringer. Registration formalities are simple and the paperwork is least. In case, the work has been created by a person other than employee, it would be necessary to file with the application, a copy of the assignment deed.
The owner of a copyright should make an application in the prescribed form accompanied by the prescribed fee to the Registrar of Copyrights for entering the particulars of his work in the Register of Copyrights. However, remember that non-registration will not deprive the owner of copyright of his right to bring both criminal and civil action.
• Mode of making applications:
• Application of registration need to be made to the Registrar of Copyrights, New Delhi (Address: Registrar of Copyrights, B.2/W.3, C.R. Barracks, Kasturba Gandhi Marg, New Delhi- 110 003)
• Every application for registration of copyright shall be made in accordance with Form IV and every application for registration of changes in the particulars of copyright entered in the Register of Copyrights shall be made in accordance with Form V.
• Fees: Fees for different copyrights depend on the Second Schedule of the Copyright Act (to be hyperlinked with http://copyright.gov.in/frmFeeDetailsShow.aspx ). The fees is payable to the Registrar of Copyrights, New Delhi, by:
• A postal order or
• A bank draft issued by a Scheduled Bank or
• By deposit into a Government Treasury or a branch of the Reserve Bank of India or the State Bank of India under the head of account: Major Head – ‘XLVI – Miscellaneous’. Minor Head ‘Naturalization, Passport and Copyright Fees’
3. Infringement of Your Copyright: Copyright in a work is infringed upon when any person, without a licence granted by the owner of the Copyright or the Registrar of Copyrights:
• Does anything that he is not legally permitted to do
• Sells, lets on hire, distributes or exhibits to public the copyright work.
4. Remedies for Infringement: As an owner of your work, if you discover that your copyright has been infringed upon, you will be entitled to all such remedies by way of injunction, damages, and accounts and otherwise as are or may be conferred by law for the infringement of a right.
The Copyright Act in India is strong and effective enough to take care of the copyright of the concerned person. It covers both traditional cases as well as modern cases that are brought about by changed circumstances and latest technology. It is important that, as an entrepreneur, you are aware of the protection requirements of your intellectual property and take due measures to secure them from unauthorised use.
Category: General |
Inventory is nothing but the ‘stock’ of a business – the product that the business is holding for sale. It includes the raw materials, semi-finished goods and finished goods.