Harsh Gunjay, Maharaja Agrasen Institute of Management Studies, GGSIPU & Shruti Anand, KIIT School of Law, KIIT University
Introduction
Art demands unimpeded creativity and music is no exception to that. The music industry is constantly growing, creating, evolving where individuals and companies are making melody and writing lyrics out of thin air by their intellect. This creativity and intellect need to be protected legally so that the creators get the due recognition and remuneration they deserve. This is where intellectual property laws come into the picture. Intellectual property is defined as ‘an intangible asset that is a result of creativity’ it is indispensable that intellectual property must be protected with the same legal sanctions as physical property is protected. These legal sanctions give assurance to creators that what they create is theirs and will not be misused or exploited for anyone else’s profit, thus giving them a reason to keep creating and innovating. The music industry is very vulnerable to intellectual property crimes, once the music is released in the public domain it can be accessed by anyone and thus be copied or exploited then resold for their profit. The existence of intellectual property laws gives legal security and enforceable right to the creators against their intellectual property.
Music has enduring value in society, the economy, and our culture. The economic value of music stems from the intellectual rights associated with creative works, their performance, and transmission, in addition to its fundamental human and cultural value. These rights are the foundation for the countless commercial deals that take place in the music industry every day. Copyright and related rights are the most important IP rights for artists among the current IP rights such as copyrights, design rights, trademarks, and patents. Because music is something that can be easily duplicated and sold, there is a substantial risk of piracy in the music industry. This is where IPR comes into play, as it protects the owners' rights.
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