Vol. 6, Issue 5 (2020)
Vocal for Local: IPR protection will boost Indian Economy
Author(s): Akshat Chaudhary
Abstract: Today, the World is growing at the cost of knowledge. Knowledge is acquired at the expense of time, energy, money, and other resources. The ultimate goal of knowledge is to coin a new idea or implement it to invent something unique. When intellectuals achieve something unique, there is a lifetime of effort, perseverance, dedication, academics, and economic factors behind their success. Few intellectuals intend to share their inventions to World for the well-being of the community. Yet, in certain circumstances, such altruistic sharing is not desirable without denying that they deserve to bear the fruit of their endeavors. They have the legitimate right to decide how and when their creation should be used. Here comes the need for the protection and safeguard of their production from piracy and plagiarism. Intellectual Property Rights (IPRs) acts as a protective shield. In a country like India where the aim is to enhance empowerment for localites via agendas like Vocal for Local, Stringent implementation of IPR Act can effectively boost the motives.