Abstract: What is regarded as new today becomes old tomorrow. In this competitive world, every organisation tries to attract customers by introducing additional features to existing products in the market, or by innovating new range of goods, so as to maximize economic benefits. Intellectual Property Law confers exclusive or monopolistic rights when such inventions or additions exhibit some novelty, originality or inventive step, for a particular period of time, paradoxical to the principles of the Competition Law which seeks to prohibit monopoly for promoting free and fair competition in the market. Thereby, the two branches of law are generally categorised as rear bed fellows. The present era particularly focuses on the areas of interlace between them. The contemporaneousness of both branches of law is essential for the purpose of promoting market efficiency and protecting the interests of consumers, as one seeks to foster innovation and their commercialization, while the other corrects the malfunctions in the market.
Author: Sangeetha. M and Saravanan. R are 4th year law students of the Tamil Nadu Dr. Ambedkar Law University. The authors may be contacted at firstname.lastname@example.org or email@example.com.
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