A geographical indication is a name or sign used on certain food products that correspond to a specific geographical location or origin. Such geographic locations includes:
An estimate states that the international market of medicinal plants-related trade at US $60 billion per year growing at about 7% annually. India has only 2.5% share of this market. Quantities features of certain goods have impact of geographical conditions prevailing within it. The use of a GI may act as a certification that the product possesses certain qualifies, or enjoys a certain reputation, due to its geographical origin. Geographical indications do protect the interest of remote territories and augment the import and exports of the nation. Also portion inherited knowledge, indigenous architectural designs and knowledge about herbal medicines could preserve under this category. They protect and reward traditions while allowing evolution. They emphasize the relationships between human cultures and their local land and environment. They are not freely transferable from one owner to another. They can be maintained as long as the collective tradition is maintained.
The existing system of IPR does not protect the resources from exploitation by an individual Commercial interest in plant and animal species in industrializing countries and traditional knowledge and remedies have raised questions of ownership of such resources, previously assumed to be in public domains. Convention on Biological Diversity recognizes the sovereign rights of the states over the genetic resource
A recent survey showed that the motivation for patenting in decreasing order of importance is as follows::
Dr. Amol Potagantwar
Dean IPR & HOD CSE SITRC, Nashik