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D.Gowthami Reddy, Partner, M/s.Pentallect Partners

IP UNFOLD - Weekly IP Info Dec 29 - Jan 4, 2025

IP UNFOLD -    Weekly IP Info    1) Should Gukesh Dommaraju register his name as a trademark? World Chess Champion Gukesh Dommaraju should consider trademarking his name and likeness, says legal expert Raghav Malik. With rising fame after his 2024 World Championship win, he risks unauthorized use by brands, similar to what Indian athlete PV Sindhu faced. Registering trademarks or securing image rights could protect his brand value and prevent misuse.   2)   KIPO warns Indonesian “Korean Ramyeon” commercial with NewJeans might deceive customers KIPO raises concerns over Indomie’s "Korean Ramyeon" product, fearing it may mislead consumers into thinking it's Korean-made. The product, endorsed by K-pop group NewJeans, has gained viral attention, prompting discussions about potential intellectual property issues. 3) Uzbekistan joins the Hague System Uzbekistan joins the Hague System, expanding WIPO’s global design coverage to 98 countries. Effective January ...
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D.Gowthami Reddy, Partner, M/s.Pentallect Partners

How important is it to exploit one's intellectual property?


Many seem to know, what is Intellectual Property? Different intellectual property rights and what all can be protected through those rights. However, very few seem to know what to do with it. Are we to keep it in the cupboard and forget about it? On the other hand, should we boast about possessing an IP?

Most commonly, IP right holders say to themselves, "Thank God I have registered my IP, no one can copy now. If anyone copies I will drag them to court".

Well, it is important to protect IP from infringers and safeguard your IP. Nevertheless, that is not its only purpose. I would say if IP’s are not exploited it is equal to an abandoned house.

A house for example, can be sold, mortgaged or could be given for lease and income can be earned. Similarly, IP can also be licensed, pledged or assigned and income can be earned.

No owner of a house would wish to keep it locked if he knows that it will fetch decent income. Therefore, all IP holders should recognize that IP is capable of generating revenue and should exploit to the maximum. In others, words should be treated as a valuable asset.

 

 




 

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