Since the adoption of TRIPS agreement in 1994, it has been emphasized that a stronger intellectual property laws will result in creation of more intellectual property in India. However, mere adoption of stronger intellectual property laws has not resulted in creation of more intellectual property in the country. The main reason being that it takes more than just intellectual property laws to create intellectual property.
Intellectual property laws are very important for protecting inventions & innovations and in providing an incentive to create intellectual property. However, for an inventor or an innovator, intellectual property laws are just a legal means provided by the state to protect their intellectual creations. Therefore, if intellectual property laws are an incentive to create from our minds, then the obvious question is what are the essential elements for creating from our minds?
The following are the essential elements for creating intellectual property:
1. Critical thinking and freedom of speech
If you cannot think, you can never create anything from your mind. Above all, the process of thinking has to be critical. Critical thinking allows one to think ‘out of the box’. It allows one to see and imagine what others have missed and have not imagined yet. It also enables a person to identify problems and gaps in the market and find opportunity in unexpected places or things. Freedom of speech and expression is equally important because if you are not allowed to express a different viewpoint or opinion, the possibility of creating anything new is almost zero.
The ability to empathize allows an inventor or an innovator to understand the needs & requirements of the market even before the market realizes what it needs.
3. Risk & Failure
Trying to create a new product or service from our mind always entails a very high risk and more often than not, in the initial stages, it leads to failure. If individuals are afraid of failure, then it is quite unlikely that they will take a chance and try to create anything new from their mind.
4. Persistence, patience & faith
Moment of genius does not produce invention or innovation. It takes a long time, from conceptualizing the idea to finally making a product or service. Light bulb or aeroplanes were not created overnight. Above all, one needs a very high level of faith that all the hard work and labor will produce desired results.