Awareness on IPR- Significance of Trademarks and Trade Secrets

On 23.5.2024 an awareness on IPR was organized on the title “Significance of Trademarks and Trade Secrets” by the Entrepreneurship Development Cell and IIC in association with the Electronics and Communication Engineering department. The session was handled by Dr. R Prem Ananth, IIC Convener, IIC Innovation Ambassador for "Design thinking & Innovations", Assistant professor, Francis Xavier Engineering College. 60 students and 1 faculty participated in the program. This event was coordinated by Mr Pradeep T Rajan, Assistant Professor, Department of ECE, Francis Xavier Engineering College.

The guest speaker started session by creating an awareness on Intellectual Property Rights (IPR). He said understanding IPR helps to protect the inventions, respect the intellectual property of others, and navigate the legal landscape of patents, trademarks, copyrights, and trade secrets. He fosters an awareness of IPR, that empower students to safeguard their creative efforts, promote ethical practices, and enhance their ability to contribute to technological advancement and economic growth. He explained the IPR and types of IPR (patents, trademarks, copyrights, trade secrets). A utility patent is the most common type, protecting new and useful inventions or discoveries, including processes, machines, manufactures, or compositions of matter. It covers the functional aspects of an invention and typically lasts for 20 years from the filing date. A design patent, on the other hand, safeguards the ornamental design of a functional item, focusing on the aesthetic aspect rather than utility. This type of patent protects the visual characteristics of an object for 15 years from the date of grant. This patent provides protection for the plant variety for 20 years from the filing date, ensuring that the patent holder has exclusive rights to the plant's reproduction and sale.

He also said that trademarks and trade secrets are two important forms of intellectual properties in the business world. A trademark is a recognizable sign, design, or expression that identifies and distinguishes products or services of a particular source from those of others. He coated examples include the Nike swoosh, the Apple logo, and the distinctive Coca-Cola bottle shape. He said trademarks helps in building brand identity and consumer loyalty, providing legal protection against unauthorized use that could confuse or deceive consumers. On the other hand, trade secrets encompass confidential business information that provides a competitive edge, such as formulas, practices, processes, designs, instruments, or patterns. He explained the classic example is the recipe for Coca-Cola, which is closely guarded and known only to a few individuals within the company. Unlike trademarks, trade secrets are not registered but are protected through non-disclosure agreements and other security measures. Both trademarks and trade secrets are essential for safeguarding a company's intellectual assets, ensuring long-term competitive advantage and market differentiation.