Globalization has made the world a tiny global village by incorporation of the worldwide across-the-board markets. It has given customer and users a wide choice of products and brands with reduced costs. Yet , this has likewise led to a delicate and dangerous exposure of which to the several unfair practices adopted by producers.
It is a acknowledged and valued fact in the current era that the presence of any strong intellectual property correct (IPR) routine is a significant precondition to get the improvement and rise with the economic growth in the country. This facilitates better investment in research and development as well as provides way to improve the quality of life of people from the nation. IPR not only helps to protect and offered ventures in the innovative and creative potential of competitors and owners of IP rights that supply goods and services, it concerns itself with the hobbies of the customers of those goods and services, directly or indirectly. The presence of such legal rights proves vital and is essential for overall advancement society.
The areas of intellectual real estate that are most relevant for customer protection happen to be: Trade Represents, Geographical Symptoms and Protection against unfair competition. These IP rights ensure that the consumers in ordering quality products and protect them from use of substandard products which can cause health insurance and safety problems. Thus, the appropriate operation setup of IP rights and the enforcement is important for consumers. Further, it is the core basis that people of the country must be protected via unfair competition, that is, via any work of dishonest practice in trade and business.
Protection against unfair competition continues to be recognized as one of the many objectives of intellectual home system, which prohibits any act of competition that is certainly contrary to genuine practices in industrial or commercial issues, referred to as ‘unfair competition’. The acts of unfair competition not only adversely affect the rivals, which tend to lose their customers and market share, but as well affect customers as they are probably misinformed and misled and tend to go through economic and private prejudice. What ever form unfair competition will take, it is in the interest of the genuine and legitimate businessperson, the consumer and the auto industry at large that they should be averted and protected via it since early and as effectively as it can be.
Free and good competition among enterprises is considered the best ways of satisfying source and require in the economy and of serving the hobbies of consumers and economy all together. This accelerates and paves for a way of creativity and productivity and leads to the optimum share of assets in the economy, reduces costs and improves top quality, as well as boosts economic development and growth, hence an attempts to undertake a study in the above cadre between IPR and Consumer Protection sector in India.
