Intellectual Property: Intellectual Property (IP) is critical for competitive economy in the back drop of ongoing globalization.

Sustainable economic growth now depends largely on Hi-tech R&D base and efficient knowledge input. The new concept of IP based nation is gaining ground because it is Intellectual Property which enables technology creation and technology transfer by providing the necessary enabling environment. For these considerations Intellectual Property was mainstreamed in Pakistan in 2005. IP was brought under the limelight of public policy by simultaneously establishing IPOPakistan, empowering the Federal Investigation Authority (FIA) and activating Pakistan Customs against IPR violations. Industrial Design: An industrial design is the ornamental or aesthetic aspect of an article. The design may consist of three-dimensional features, such as the shape or surface of an article, or of two dimensional features, such as patterns, lines or color. Industrial designs are applied to a wide variety of products of industry and handicraft: from technical and medical instruments to watches, jewelry and other luxury items; from house wares and electrical appliances to vehicles and architectural structures; from textile designs to leisure goods. An industrial design is primarily of an aesthetic or visual nature, and does not relate to the technical features of an article. Copyright: Copyright is a set of exclusive rights granted to the owner for a limited time to protect the particular form, way or manner in which an idea or information is expressed. Examples literary & artistic work, music, films, paintings, sculptures, computer programs and database etc, Copyright is Moral and economic rights of authors/ writers, publishers, performers and producers of sound recordings (phonograms). Duration of Copyright protection is life time of the author plus 50 years thereafter Genetic Resources (GR): Genetic resources are genetic material of plants, animals or microorganisms of value as a resource for future generations of humanity. Traditional Knowledge (TK): Traditional knowledge (TK), indigenous knowledge (IK), and local knowledge generally refer to the matured long-standing traditions and practices of certain regional, indigenous, or local communities. Traditional knowledge also encompasses the wisdom, knowledge,

and teachings of these communities. In many cases, traditional knowledge has been orally passed for generations from person to person. Folklore (F): Folklore consists of legends, music, oral history, proverbs, jokes, beliefs, and customs that are the traditions of that culture, subculture, or group. It is also the set of practices through which those expressive genres are shared. IPO-Pakistan is in the process to develop GRTKF database of Pakistan and drafting of legislation for protection and promotion of GRTKF. A separate directorate has been established at IPO HQs, Islamabad to achieve these targets. Patent: A patent for an invention is grant of exclusive rights to make, use and sell the invention for a limited period of 20 years. The patent grant excludes others from making, using, or selling the invention. Patent protection does not start until the actual grant of a patent. A patent cannot be obtained on a mere idea or suggestion. Patent applications are examined for both technical and legal merit. Trade Marks: Trade Marks Registry (TMR) is premier body of Intellectual Property Organization of Pakistan (IPO-Pakistan) working for the registration of trade and services marks under the Trade Marks Ordinance, 2001. It is a federal government body and its jurisdiction for trade and services marks lies within the geographical boundary of Pakistan. It works as a civil court and its decisions are appealable at the provincial high courts. The Trade Marks Registry is headed by a Registrar and its office is located in Karachi. Advantages of intellectual property: The owner is able to prevent unauthorized copying or imitation of his or her design by third parties. In addition, as industrial designs add to the commercial value of a product & facilitate its marketing & commercialization, their protection helps ensure that a fair return on investment is obtained. Protection of industrial designs encourages fair competition & honest trade practices. It leads to the production of more aesthetically attractive & diversified products, thereby broadening consumer choice. Industrial design protection acts as a spur to a countrys economic development by contributing to the expansion of commercial activities & by enhancing the export potential of national product. The copyrights will help the company to safe there company secret and also help them in maintaining the market share. Its also help them to keep there company and ingredients secrets. Copy right also help the company to maintain the high level of technology to provide security to there brand image and products.

The company can gain a competitive advantage by creating uniqueness in there products. Both the company has a good brand image in the international market that helps them to promote the country positive image. Can stable the demand of the product in the market because no copy of the product is available. Provide company a way to increase its prices any time. Create a sense of security amongst the customer about the quality and quantity of the products and the ingredient. Create values among the customer. Disadvantages of intellectual property: The owner is unable to prevent unauthorized copying or limitation of his or her design by third parties. Unprotection of industrial designs discourages unfair competition & dishonest trade practices. The increase in the cost of the product. The maintaincess of the product quality increased its price. It can some times create the shortage in the market for some specific product of both companies.