As we all know how rapidly the IT department is growing. Hence a result of the industrial revolution, technology has continued to advance, and with the present shift to the digital era, nearly all jobs can be completed with the help of technology. Additional advantages of technology development in the contemporary digital era include the facilitation of communication and information transmission to ease labour. These effects are felt by all. Since the job of IT specialists is inextricably linked to technical advancements, any new works or inventions should be safeguarded as intellectual property.

The main Intellectual Property rights in the tech industry are copyright, trademark, patent, database rights, confidentiality, and trade secrets. In the current scenario managing Intellectual Property in the tech industry is crucial for protecting and commercialising innovation. It's vital for tech companies to have a well-defined intellectual property (IP) policy in place to safeguard their discoveries and stop third parties from infringing on them. This can involve putting in place stringent confidentiality agreements for partners and workers, filing for patents and trademarks, and doing routine IP audits. Companies should also be aware of and abide by International intellectual property laws and regulations. When necessary, they should also take action to enforce their IP rights.

Intellectual property's significance in the Technology sector

Intellectual property (IP) in the tech sector refers to the legal ownership of mental creations, including innovations, literary and creative works, names, symbols, and pictures used for commercial purposes. Trade secrets, copyrights, patents, and trademarks are the most prevalent types of intellectual property in the technology sector.

Patent: The government will give an inventor exclusive rights to a patent for a predetermined amount of time. Novel, practical, and non-obvious inventions — such as new software, goods, and technologies — are protected by patents. They grant the creator the authority to stop others from creating, utilizing, or commercializing the innovation without their consent.

Example: Amazon One-Click Patent

This patent, granted in 1999, allowed customers to make purchases with just one click, making online shopping much more convenient and revolutionizing e-commerce.

Copyright: Creative works including software, apps, graphic designs, music, movies, and other digital information are protected by copyright. Copyright gives authors the ability to assert their exclusive rights to use, share, and profit from their creations. Because their work would be safeguarded and rewarded with a just compensation, makers of software and digital material are encouraged to keep innovating.

Example: Microsoft holds the copyright to the Windows operating system, which allows it to sell usage licenses to both companies and individual users. This allows Microsoft to continuously develop new operating systems and provide needed security and feature updates.

Copyright infringement- Google LLC vs. Oracle America:

• Both Google and Oracle are tech behemoths and supply a range of products and services to customers worldwide.
• The dispute between these giants was related to parts of Java application programming interfaces (APIs) and several thousand lines of source code.
• Oracle alleged that Google used the APIs and source code for initial versions of its Android operating system. It sued Google, seeking $8.8 Billion in damages.
• Google admitted to using the APIs but relied on a fair use defense. Fair use permits a party to use copyrighted work without the copyright owner's permission for some purposes as stipulated in relevant copyright laws.
• The tech industry watched the case closely because a decision in either company's favor would have far-reaching impacts on the software development and tech industries.
• The legal battle lasted for years and involved multiple trials and appeals. Finally, the Supreme Court ruled in Google's favor, finding that using Java APIs fell within four fair use factors.
• As a consequence of the dispute, Google moved Android to a copyright-unburdened engine that does not use source code owned by Oracle.

Trademark: Trademarks are symbols, names, and logos that are used to set one company's products or services apart from another. They stop others from using confusingly similar marks and assist customers in determining the origins of a good or service. In the IT industry, a trademark is important in building a brand image and differentiating products or services from competitors.

Example: Apple is one example of a company that has successfully built a strong brand name. The Apple Bite logo and the word "Apple" are directly associated with the company's innovative and quality products.

Trade Secret: Intellectual property that can be exchanged or licensed to other parties is known as a trade secret. A fraudulent and unfair act can be defined as any unapproved acquisition, use, or disclosure of a trade secret without the owner's agreement. This can also be defined as a violation of trade secret laws, which can result in criminal activity and the leakage of significant secrets.

There are several things that must be met by the applicant in order to have a trade secret, including:

• Confidential information has commercial value so it is kept secret
• This information is only known by certain people or groups
• There is a non-disclosure agreement
• Comply with the SOP implemented by the information holder to keep the information confidential
• In this field, knowledge of software development processes, technical details, commercially valuable information, and information on cutting-edge technology are all protected as trade secrets.

In short, intellectual property (IP) plays an essential role in the IT sector's innovation and commercial strategy. Tech companies can secure their ideas and stop others from stealing or using them without permission. It also gives them a competitive edge, makes it possible for them to monetize their IP, and attracts investors. Businesses that enter new markets must safeguard their intellectual property there and be informed of any applicable local rules and regulations. Companies should also have a strong cyber security plan to guard their intellectual property against online attacks.

Written By: Forum Parekh