Get protected internationally

Manisha Singh and Zoya Nafis explain why Indian companies should register their IP in overseas markets

India has proved the notion that the twenty-first century is the century of knowledge, indeed the century of intellect. It has not only translated knowledge into wealth and economic success, but has also provided a framework for the protection and enforcement of intellectual property. India’s IP regime is now well established and stable from every perspective, be it legal, judicial or administrative. It is also in total compliance with the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). In addition to this, India is a signatory to a wide range of international treaties and conventions relating to intellectual property.

The relevance of intellectual property has risen over time and is now known to all. Even the smallest companies take stringent efforts to protect their IP, at least in their domestic market. However, Indian companies must note that intellectual property rights are territorial in nature and operate only within the boundaries of the countries in which such rights have been registered. With the impact of globalization, even the smallest businesses have started to operate globally, and with a global footprint comes the necessity to register IP in overseas markets.

Misconceptions

Some companies and inventors already seek protection for their IP at an international level. However, the majority still fail to put in place adequate international protection. Cost is certainly one of the major reasons why inventors are reluctant to file for overseas IP protection. Many still live with the misconception that obtaining overseas protection is extremely costly. This is especially the case now that Indian IP lawyers no longer work for meagre fees. In fact their rates are often comparable to those of IP lawyers in developed markets. But in spite of this, acquiring protection in international markets is often cheaper than people expect.