March 19, 2019
As on 2017, world-wide IP applications figures are: Patents ..31,68,900 Utility models .. 17,61,200 Trademarks 1,23,87,600 Industrial designs 12,42,100 (WIPO Statistics Database, September, 2018)
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The connotation of Property since olden times was viewed as one having a tangible perspective. On that scale, possessor of property is believed to usher in wealth and elevated societal status. However, with passage of time, property also included within its domain, an intangible perspective technically coined as Intellectual Property.
It is believed that a society shall progress only when their occur development of material, social and intellectual environment amongst all the members of the society. Hence, social development implies qualitative changes in the structure and framework of the society to enable better realization of its aims and objectives.
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