We live in a knowledge economy, where ideas and innovation are driving growth. This paradigm shift from procuring tangible properties to intellectual assets has paved the way for career opportunities in Intellectual Property (IP) law. The growing AI space is further fuelling this growth.
IP deals with laws that protect the rights of creators and their intellectual property, which includes inventions, music, design, artwork, content, and software, among others. IP comprises copyright law, patent law, trademark law, and trade secret law. It also includes other areas like unfair competition and licensing. These laws assign credit where it is due and help creators earn recognition and monetary benefits from their work.
IP Rights are invaluable assets to a business and the economy of a country at large. Identifying and protecting intellectual property is essential, especially if it concerns financial gain. IP registration is, thus, important to determine ownership. As a country that is the hub of start-ups and innovation, pursuing a career in IP law in India is a lucrative option.
To become an IP lawyer in India, an aspirant needs a Bachelor’s degree and clear the CLAT and AIBE examinations. They must specialise in IP law and obtain licensure from the Bar Council of India to register as trademark attorneys. As a custodian of an inventor’s work, their job might include legal counselling, execution, and enforcement of IP laws.
An IP law enthusiast can study several courses while in law school or even after graduating. There are courses by online e-learning portals in India. The World Intellectual Property Organisation also provides a variety of courses in IP laws. The candidates can also learn and stay updated about recent changes, new laws in the IP with internships, online skill enhancement courses, books and journals.
There is a high demand for IP lawyers even at the entry level. With the rapidly growing market for consumer goods, technology, media, automobiles, and luxury items, entry level jobs in corporate, fashion, media, export, entertainment, valuation and audit, and investment come with high monetary rewards.
Opportunities include working in corporate law, competition law, legal counselling including investigation and enforcement advisory, and practising in niche areas such as music, fashion, sports, art, etc. where IP laws play a pivotal role.
Law students and recent law graduates, lawyers, in-house counsels, and legal professionals who wish to switch to IP law practice or are looking to kickstart a career as IP lawyers, chartered accountants, company secretaries, cost and work accountants, government officials, academicians, managers, CEOs, company directors, and prospective entrepreneurs can benefit from IP courses. Business professionals, advisors, and managers interested in a detailed legal understanding of how to procure a comprehensive IP profile for their organisation can also use IP law courses to their advantage.
IP-intensive industries account for the majority of jobs today. Legal plays an essential role in maintaining their excellence and integrity, making IP law one of the fastest-growing law silos in the country.
The author is Director, EBC Learning.