Intellectual property is the imagination or innovation of something which relates to the assets of the creator. The general use, publicity and sale become the right of the inventor in the market. These rights are purely accepted and protected under the IP law where the innovator has exclusive rights in which he can publicize the product, license the production and supply the invention into various parts of the markets and ask for legal formalities for any kind of illegal copy of the same innovation The common intellectual property rights are such as copy rights, patents, Trademarks and Trade secrets.
A generic intellectual property is the specific which has become the brand name for the product or the service and more clearly, this is the generic property is the one which started with a distinctive purpose and in the later use it changed to the general use. A generic property is the one which has ruled the market and in present, it has become the product or service common name for the public. These generic rights has legal protection to such items from the global risks and which is being lost completely and competitors are able to launch the similar product or service with the same marks as the counterfeit in the market. So the Generic products are unprotected due to availability of the counterfeits in the market. The proprietor of the product and service has been continuously working to correct and prevent the illegal and unfair use. Mostly the pharmaceutical industries are worst affected by this kind of practice and which attempts to protect the generic by the way of providing a common name based upon chemical mixtures. Most common illustrations of generics in pharmaceuticals are Aspirin & heroin, introduced in 1897 & 1898 respectively.
World intellectual property organization (WIPO) is International organizations to secure the generic works, by providing the IP law, to deals with the defaulters who adopt the unlawful practices bring the duplicates of the generic. The prime aims of these laws are to protect and promote the generic and to discourage the counterfeits. By this way WIPO motivated the innovators to work in unique direction of generics and besides they get sufficient amount of incentives by disclosing their generics or patents.
WIPO and several other directives of international organizations work aimed at protecting the IPR to maintain the financial and economical growth of the country. Globally counterfeiting of IP has been growing at large scale and the loss to generics is very high. The Anti counterfeit trade agreements ACTA states that the enforcement of the counterfeit is difficult to sustain the economical and financial growth of the industrial sectors. Nations around the world are suffering with the counterfeits in the generics and this hazard has been so serious to the world economy where Jerusalem Private Investigators shown tremendous stamina and great work to handle the cases of IPR. It became the common business of Jerusalem investigators to create the effective net to fish in the criminals or offenders who bring in the counterfeit of IP to demoralize or discourage the generics. The credentials of an individual, a company, a group and a country become easily accessible. It became huge danger and serious threat to the natural innovations.
The generic IP works were not protected as hackers developed the technology to create a counterfeit IP to identify and break the formulas utilized by innovators to create Generics. Law and order is not strong to handle the IP Crimes. Crimes done are untraceable and not identified. Government steps to control the IP crimes are tracked out by the criminals and these crimes are continued to rise and role of generic products losing the grounds and innovators of such works discouraged.
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