Intellectual Property Rights Maintenance
Have you ever been to Sadar bazaar, Gaffar Market or Sarojini Nagar market in Delhi? Why are they so famous?
Other than some great budget products, you will find a lot of pirated/ duplicate products there as well like FastTrack watches, Nike shoes, Samsung smartphones, LV bags, etc. Have you ever wondered how much loss these companies bear annually because of this blatant breach of Intellectual Property (IP) rights? How can you prevent the same from happening to your brand?
Enforcing IP rights in India
There are a plethora of ways for you to enforce your intellectual property right in India from custom seizures, civil litigation to even filing for criminal liability. For instance, the Copyright Act, 1957 and the Trade Marks Act, 1999 provide for an imprisonment of 3 years and a fine of INR 2L for infringing one’s IP rights.
Various dispute resolution mechanisms are also at your disposal like Arbitration, Mediation, etc which might be proven even speedier than going for a full-fledged legal battle. You may consult competent and experienced professionals to ascertain which medium to resort to in various kinds of situations.
IPR Maintenance - Best Practices
IP valuation has a substantial impact on an organisation’s financials and thus it is crucial to not only conduct an extensive trademark search, retaliate to all the opposing claims and get a bullet-proof registration for your IP but also to maintain that IP in times where piracy is at its peak.
You have to constantly monitor the market to check if any competitor is cashing on your trademark. Further, checking that there exist no counterfeits of your product in the market is also a task. Making prior arrangements, doing all due diligence and ensuring regulatory compliances for the renewal of IP before it expires & becomes vulnerable to duplication/piracy is also to be kept in mind.
You will find hundreds of lawyers who provide IP registration services. However, lawyers who also help with the protection and the maintenance of your IP and assist you to secure the highest possible valuation on your IP is what USAIndiaCFO brings on the table. But it doesn’t end there, besides having highly versed and experienced lawyers, we also have a dedicated team for Chartered Accountants and Company Secretaries to assist clients on every step in the process of IP protection and valuation pertaining to financials and corporate governance, while keeping the whole process optimum.
To know more about how we will implement our optimum and innovative solutions in your organization give us a call on 7727887799 (also available on WhatsApp) or drop us an email containing your business requirements at firstname.lastname@example.org and our team will reach out to you within 2 hours.
We offer IPR maintenance, along with a range of other services to take full accountability as the virtual CFO to your business.
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