Intellectual property as entrepreneur’s asset

Intellectual property (IP) rights are vital part of entrepreneur’s assets as IP promotes creativity and innovation and is assurance that entrepreneur gets fair profit from his investments. IP rights are important also because they promote economic growth by protecting inventors, artists and designers and enabling them to get profit from their work.

Trademarks in particular are helpful for consumers, as trademarks assure the consumers that the products and services they consume are of high-quality, legal, safe and reliable.
The increasing value of IP rights is an indicator of success. This inevitably makes these rights tempting also for counterfeiters, who have enough money and have become active in industrial business.

Traditionally, luxury goods, music and film industries, clothing and accessories have been the subject of an infringement of IP rights. Nowadays, IP rights are infringed also in consumer’s goods like cosmetics, foods, spare parts of airplanes and cars, toys, technics and electric products. Counterfeiting with medicins has also increased. This puts people’s lives and health into a great danger.
Trading in goods infringing intellectual property may often seem to be an innocent activity, but the consequences that can result from the use of such goods, may be quite sad.
We need to change our attitude towards the use of counterfeit products. Many of you probably know someone who ownes fake watch or sunglasses.

The general attitude can be like this:

  • a watch is a watch and it doesn’t matter
  • it doesn’t harm anyone
  • the originals are too expensive
  •  trademark owners get already enough profit and they survive with a smaller turnover too.

They do get profit, but it is important to be aware of the direct connection between trading with counterfeit products and criminal organizations.
We have to think that the issue is not only the decrease in IP rights owner’s profits, but also a direct threat to human life and health:

  • if someone buys counterfeit medicines which don’t have the desired effect or the effect is a direct threat to one’s life
  • if someone’s car has brakes that are counterfeit and of poor quality
  • if pesticides destroy entire coffee plantation
  • if a counterfeit artificial heart machine is found in hospital
  • if counterfeit fastening materials are used in airplanes

None of these examples are fictional.

The infringement of IP rights has become a great issue to society. On one hand, the IP rights owners suffer losses because of the huge investments made in the quality, marketing and betterment of their products.

On the other hand suffers the consumer when buying in a good faith a praticular company’s product or product with particular trademark, but receiving a product with low-quality. The costumer therewith supports illegal activity.

IP rights help significantly promote innovation, creativity and trade. Infringement of IP rights cause economic damage. Therefore, it is important for everyone to fight against the infringement of IP rights, protect the entrepreneurs’ interests and people’s lives and health.

Enforcement of intellectual property rights

Enforcement of intellectual property rights means the activities of the rights’ owner when his rights are infringed. These activities are nonjudicial agreements with the wrongdoer, challenge in Industrial Property Board of Appeal or in the Court and customs action. The right to intellectual property automatically arises with the creation of the work (copyright) and disclosure (EU unregistered industrial design). The right to intellectual property also arises with registration in the Patent Office (patents, utility models, trademarks, registered industrial designs, geographical indications, layout-designs of integrated circuits).