Informatics Publishing Limited

Priyadarshini Singh ¹, Gouri Gargate ¹

Affiliations
1 Rajiv Gandhi School of Intellectual Property Law, Indian Institute of Technology Kharagpur, Kharagpur - 721 302,West Bengal,, IN

Abstract

Intellectual property (IP) is one such legal area that has evolved with time. IP is very precious in today's economy, and its existence becomes crucial if the creator of such IP is unaware of the commercial potential. The IP creator might not have the expertise to understand the economic intricacies which an IP possesses hold. To understand these economic intricacies and to value IP, experts have suggested various IP valuation methods. However, for any IP valuation to follow, the first step is IP evaluation. The statutes' legal protection does not have much to offer when determining IPs' economic potential. In this paper, the authors have tried to pull all the relevant data concerning IP protection and IP management (IPM) of two of the Institute of National Importance (INIs) academic units and tried to structure the same in an IPM Audit Model. Thus, the system will help IP creators to self-evaluate their IP once they are legally protected. The authors have adopted an exploratory, case study research methodology. The research's focus is limited to 8 types of IP generated by an academic institution. The study demonstrates an exploration of the IPM audit framework to reduce the complexity involved in IP evaluation, which substantiates the legal protection offered to IPs.

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Soumya Prakash Patra ¹, Priyadarshini Singh ²

Affiliations
1 Department of Commerce and Management, St. Xavier University, Kolkata — 700 160, West Bengal,, IN
2 Rajiv Gandhi School of Intellectual Property Law, Indian Institute of Technology Kharagpur, Kharagpur- 721 302, West Bengal,, IN

Abstract

Consumers perceive trademarks as commodities due to their exceptional quality attached to the brand. Consistency is established when customers purchase a specific brand, and its appearance is an additional driving factor for such a purchase. Due to this emerging understanding, both in the US and in Europe, there is acceptance of the fact that financial concepts for trademark reasoning are insufficient to reflect the present-day functions of trademarks accurately. Trademark’s functions have been restructured over the past few decades, which correspond to trademark evolution and expansion of consumer-centric society on the other hand. Given the non-traditional business reality, it is not, at this point, adequate to ignore the propelled elements of trademarks. It is fundamental to comprehend the different reasons for the trademark. In the present financial arrangement, these capacities assume an essential job in the foundation of a trademark. There is a perceivable change witnessed in the market and society, which in turn has influenced the legal landscape. Among these, an overview will be given in this article for the protection offered in the various jurisdictions to these non-conventional (personality) functions of trademarks.

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