ECONOMICS (CBSE/UGC NET)

ECONOMICS

PROPERTY RIGHTS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which of the following is excluded from an intellectual property law?

A	Trademark Act, 1999
B	Patent Act, 1970
C	Income Tax Act, 1962
D	Copyright Act, 1957

Explanation:

Detailed explanation-1: -Certain examples of Intellectual property are patents, copyrights and trademark, and it does not include physical property of an intellectual. Hence the correct answer is D.

Detailed explanation-2: -"Customs Act 1962” does not come under the Intellectual Property law. Customs Act 1962 governs the implementation of custom duties on various goods inside the territory of the country. It is governed by the Central Board of Direct taxes.

Detailed explanation-3: -The four classifications of intellectual property are patents, copyrights, trade secrets, and trademark. Innovation does not belong to the forms of intellectual property protection. Hence, Innovations is the correct option.

Detailed explanation-4: -Works that are in the public domain are not protected by any intellectual property (IP) rights, because they are not eligible or because those rights have expired or been forfeited by the creator, either deliberately or through carelessness. Anyone is free to use public domain material.

There is 1 question to complete.