IPR: A Fuel For Brand Building In India

Building a unique brand is essential for every business, be it involved in manufacturing, distribution of products or delivery of services. Businesses rely significantly on their brand value and reputation for commercial growth and consumer base expansion. However, more than establishing a brand, it is important to get its exclusive proprietorship. Intellectual property is one of the most crucial asset of a company which makes it imperative to protect it and safeguard it against unwarranted use and wrongful gain. Even if a brand is capable of defending itself against exploitation by unscrupulous competitors, it is necessary to seek as much legal protection for the established goodwill as possible.¹ Recently, Suresh Prabhu, Minister of Commerce and Industry, also commented on the importance of IP protection for effective brand building.