Voice Of The People

Preeti Tyagi, Senior Associate at LexOrbis talks about Intellectual Property Rights

The interview is about:

Preeti Tyagi, a Senior Associate at LexOrbis, an IPR Firm, is in a conversation with Akriti Bhatia of Jan Ki Baat about the different issues regarding IPR and the challenges related to it. Tyagi believes the National Symposium on IPR to be a positive development in its history because of its ability to invite a number of involved parties who keenly aim to configure the environment for the growing current of the startup culture. IPRs both monetize and provide protection to the creator. Tyagi, a patent attorney, looks at the legal aspect of IPRs. She clarifies a few myths about IPR, counter-observing: patents and IPRs are not only inexpensive, but also marketable and highly advisable. The tax benefits for startups, too, have reduced from 13% to 10%, making this a highly favourable environment to work in. Tyagi also differentiates between patents and trademarks: patents are for the technological aspect of the products whereas trademarks come into the picture as a symbol when that product is launched in the market.

Launch of a product is nowadays under public scrutiny and the launchers have to ensure the uniqueness of their product in this competitive market and protect it once they realize this. Relevancy of a product in market remains as much a legal concern as a social one; legal advisors work towards the infringement analysis of the product to safeguard its present as well as future value. IPRs are now backed by law to ensure a smooth functioning of the business of the companies.

Challenges exist at multiple levels, with software technology being the hardest to defend, both in the patent world as well as in court because of cybercrimes, identity theft and other such problems. But this only amplifies the importance of attainment of that technology’s ownership.


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