INTELLECTUAL PROPERTY RIGHTS IN THE KNOWLEDGE ECONOMY

Abstract

The IP rights determine innovation and that is applied in the economic growth, especially in the globalized economy that depends on the knowledge (Kumari, 2023)(Virchenko et al., 2021). In this chapter the authors present the Intellectual Property Rights situation in India that is not straightforward. It considers their growth, challenges, and opportunities of creating a strong ecosystem of innovation (Unnikrishnan, 2024). It analyzes how the Indian legal system on IPR has been supporting the international standards with the environment of the nation (the socio-economic context) in mind (Maharajan, 2024). It also deals with the effect of new technologies on established views on intellectual property in India, i.e. artificial intelligence and blockchain. It is also about the necessity to act legally and in relation to the policy in such a way such responsive action can be shifted (Unnikrishnan, 2024). The other consideration is a thorough analysis of the problems of jurisdiction and internet piracy and the ways that the technology may be applied to the practical implementation of IPR (Unnikrishnan, 2024). The evolution of the IPR process which began with the discretion of the royal back occasionally but has been subsequently subject to myriad accusations of weakening different parts of the world (Hashim and Arfeen, 2021). The above historical context applies specifically to India in which a policy of encouragement of innovation and equal knowledge access is a significant issue (Narayan et al., 2021). The number of new technologies, such as artificial intelligence, blockchain, and biotechnology, that are rapidly growing consumes this balance, which is why they need to be provided with an incredibly thorough insight into how they interact with IPR in the digital era (Unnikrishnan, 2024). With the advent of Artificial Intelligence, the new questions are the standards of patent of AI-generated inventions and the suitability of AI-generated copyright. This means that a re-evaluation of current laws and cases is needed (Unnikrishnan, 2024). One should think about the economic consequences of the introduction of AI into the intellectual property related to its power to serve as the driver of innovations and disruptive technologies in the context of incentives of AI innovations as well as obstacles requiring an obstacle on the existing system of intellectual property (Cuntz et al., 2024). The intellectual property rights have also been able to be transformed by the AI. In the meantime, such rights bring up transparency issues in AI systems (Swamy, 2021). Such thorny areas to the intellectual approach to doing things will be explored in the chapter, as well as provide you with an insight of how the intellectual property environment in India can be harnessed to bring forth innovation in the realms of addressing the threats of new technologies and economic changes in the realm.