Geographical indications are typically used for agricultural products, foodstuffs, wine and spirit drinks, handicrafts, and industrial products.
PROCESS
BENEFITS
One the benefit of GIs could very well be fraud detection. Since GIs are EU-regulated certifications that guarantee the origin of a product and, depending on the type of GI, provide information regarding a product’s production, processing and preparation, the consumer can be certain that a product with a GI is authentic. In this way, GI labels serve to undermine geographical indication imitation.
Another benefit of GIs is that, by separating the true products from their imposters, they can add value to protected products and preserve tradition in the production areas. GIs protect a whole class of firms producing the same good product in a local economy. Consequently, both producers and consumers stand to benefit from GIs and their protection and promotion of geographic origin.
COMPARISON
Geographical Indication
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Trademark
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Geographical indications (GIs) identify a good as originating from a particular place.
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Trademark identifies a goods or services originating from a particular company.
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Geographical indication is usually predetermined by the name of a geographical area.
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A trademark often consists of a fanciful or arbitrary sign.
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GI may be used by any persons in the area of origin, who produces the good according to specified standards, but because of its link with the place of origin. Cannot be assigned or licensed to someone outside that place or not belonging to the group of authorized producers.
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A trademark can be assigned or licensed to anyone, anywhere in the world, because it is linked to a specific company and not to a particular place.
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ARTICLE REVIEW (Tangible & Intangible)
Tangible assets are physical assets such as land, vehicles or equipment. They form the backbone of a company by providing the means to produce goods and services. But, they risk damage from a naturally occurring incident, such as a storm, or by theft or accident. Tangible assets are current or fixed. Current assets are inventory or items a company turns into cash to ease debt problems. Fixed assets are physical items a company owns but doesn’t sell, including the machinery and land needed to keep the business running. Intangible assets are non-physical items, including patents, trademarks, goodwill and copyrights. Depending on the business, they can be internet domains, licensing agreements, software, blueprints, medical records, trade secrets and other assets. Intangible assets add to a company’s future worth, and they can be much more valuable than tangible assets. Tangible and intangible assets are recorded on a balance sheet. The balance sheet provides the information companies need when considering expansion, and that banks and investors need to determine a company’s worth.
ARTICLE RELATED TO GEOGRAPHICAL INDICATION
COPYRIGHT ACT 1987
A number of treaties administered by the World Intellectual Property Organization (WIPO) provide for the protection of geographical indications, most notably the Paris Convention for the Protection of Industrial Property of 1883, and the Lisbon Agreement for the Protection of Appellations of Origin and Their International Registration. In addition, Articles 22 to 24 of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) deal with the international protection of geographical indications within the framwork of the World Trade Organization (WTO).
ARTICLE RELATED TO GEOGRAPHICAL INDICATION
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