Introduction to Intangible Property: Transfer of Property Act 1882
Written by Awni Chowdhary
Introduction to Intangible Property
John Locke believed that a person has a natural right to hold his property, especially the one which he acquired through his own labor. “Property” brings to mind the concept of ownership, which is a relationship that a person shares with an object. Ownership entails complex rights, duties, and obligations. This concept has deeply influenced our society, and we cannot imagine our world without it. Ownership now extends beyond tangible objects and encompasses intangible elements. It encompasses not only physical possessions but also intangible creations such as brands, identities, copyrights, trademarks, and patents, to name a few.
Let us consider an example: a pharmaceutical company invents a medicine which is very effective in curing cancer. Now, they can exercise their right that no other scientist may copy the medicine without the permission of the original creator[2]. This right is known as intellectual property rights. Due to the industrial revolution and rapid development, there is an increased demand for knowledge of intellectual property rights regimes across countries. These regimes deal with the artistic or scientific work that can be protected by providing us with 20 years patent or 10 years trademark, 60 years copyright, etc.
Is Intangible Property Also Human Rights?
At the end of the 19th century, the desirability of intellectual property rights was not considered important. But today, in contrast, they have created their own value in the market, which comes with a lot of obligations. Thus, various new acts and bodies were formed, such as “TRIPS” (Trade Related Intellectual Property, 1995) or “WIPO” (World Intellectual Property Organization). Now, with the growing awareness of technology, human rights have also grown. The widespread recognition between human rights and IPR has gained a lot of importance.
After World War II, there has been a great upsurge in human rights treaties. These have brought a new age, the “age of rights,” and an era of humanitarians through UN intervention, which plays a significant role through the Universal Declaration of Human Rights. This has given birth to the International Covenant on Civil and Political Rights and the International Covenant on Economic, Social, and Cultural Rights (Article 17, UDHR). Thus, both human rights and IPR regimes have grown significantly, and the intersection between them has expanded.
An example can be of an Australian man, wherein a manufacturer copied Aboriginal designs of a carpet without the permission of the artist. The artwork copied was very sacred and something that could only be witnessed during a special occasion. The court considered it a violation of rights and thus asked the manufacturer to compensate the artist. The court also stated that copying a design could be compensated with money, but copying a sacred design that has also hurt the religious sentiments of the community should be viewed from the framework of human rights because it is something very important for the survival of the individual community.
How Does Intangible Property Affect the Economic Aspect?
Intellectual property, such as patents, has always been a topic of controversy. There have been many doubts regarding its growth in the country. But the only difference that prevails is its immobility, and that does not even affect its management for development. This can be the reason it is called “the currency of the knowledge economy.” When we try to analyze innovations from an economic point of view, it is then that we can justify the primary creation of IPR laws. IPR deals with innovation, which allows people to explore more with the available resources, thus making innovation an important component through which the economy can flourish.
During 1970, there was the creation of the Patent Act which led to the promotion of the industrial sector. The main aim behind this act was not just the availability of rights to inventors, but also the speedy development of technology in the country, which could enhance the economic condition of the country. Before the TRIPS agreement, the Indian market was not able to flourish much due to the lack of availability of such rights on various products like medicine. In India, major drug development was basically started by the Central Drug Research Institute. They were supposed to get recognized by R&D but were not provided with the same because Indian markets lacked in reserving engineers and inventing new drugs. However, when the TRIPS agreement came into existence, there came a number of opportunities that enhanced the Indian economy by providing new market opportunities to invent. A survey was organized to analyze the IPR system and how the economy has been affected by its intervention.
Let us take a look at the company “Ranbaxy”. Ranbaxy is an Indian company that started in 1961 in Gurgaon. After the implementation of IPR (Intellectual Property Rights), it recorded total sales of $1.03 billion and became the largest market in the U.S., Brazil, Russia, as well as China. Thus, the harmonization of IPR laws has opened new opportunities for innovation in developing countries like India.
How Is It Emerging in India?
It is a limitation as well as an exception in fair dealing to the authors who create new things. This fair dealing helps to copy the available material but also leads to the infringement of rights. That is why fair dealing has been kept out of this intellectual property rights concept.
Now, this defense was made available through the doctrine of equity, which has allowed people to copy new creations. One of the main reasons to follow this copyright was just because of the promotion of new work created by any inventor so that their work does not remain stagnant. It was because of this doctrine that people could differentiate between the moral intention of copying a work and the dishonest intention of copying a work. That is the reason this doctrine was added in TRIPS, and all the member countries have to follow it.
The copyright laws in India and the UK are considered to be strict and limited, as they do not allow much flexibility. On the other hand, the laws in the US are more open, allowing for easier additions to any work. Despite India’s significant development, it has still struggled to make progress in the area of fair use. India has always been stringent when it comes to enforcing copyright laws, and even a minor violation can be seen as an infringement.
The best example of this is “Independent News Services Pvt. Ltd. v. Yashraj Films Private Limited and Supercassetes Ltd. This whole case was about the defendant, “INDIA TV,” which showed a documentary regarding the life of a singer, his performances, his songs, and clippings of his movies. As a result, the plaintiff filed a case of copyright infringement. However, the defendant party claimed that it was fair use of their rights as they acted according to fair dealing principles. Consequently, the judges ruled in favor of the plaintiff and restrained the defendant from using any music, songs, or movie clips, as it would constitute a violation of the law. This judgment emphasizes the need to reconsider the concept of fair dealing to improve our system and achieve a better understanding of the difference between proper and improper use of materials to foster the development of our country.
Conclusion
Intellectual property rights have gained a lot of importance in the growing technology due to increased awareness. People are becoming aware of its benefits for society as well as new ways of earning. This 21st century has brought with it new technologies as well as new challenges. Each coin has two sides to the story, so with the increasing benefits of technology, the burden to match the technology has also started peeping. This modern way of possessing any intangible property is a boon for new inventors to invent more by learning more and thus earning more. This not only helps the artistic world to grow but also gives a great push to the imaginary world to prove its existence and shine in this world.
Keywords: Intangible Property, Transfer of Property Act 1882, Property Law, Legal Concepts, Property Rights, Ownership Transfer, Intellectual Property, Real Property, Personal Property, Legal Framework, Property Transactions, Property Laws, Asset Transfer, Legal Definitions, Property Ownership, Rights and Obligations, Intangible Assets, Patents, Trademarks, Copyrights, Property Disputes, Legal Principles, Transfer of Rights, Intangible Assets Act, Legal Provisions, Property Transfers Act, Intangible Property Rights, Property Transactions Act, Intangible Asset Management, Property Ownership Act.
