What is Industrial Property?

Introduction

Patents for inventions, industrial designs (aesthetic creations related to the appearance of industrial products), trademarks, service marks, layout-designs of integrated circuits, commercial names and designations, geographical indications, and protection against unfair competition are all examples of industrial property. Aspects of an intellectual work are sometimes less precisely defined, despite the fact that they are present. Signs expressing information about items and services offered on the market, particularly to consumers, are the subject of industrial property. Unauthorized usage of such signs that could mislead consumers, as well as deceptive activities in general, are protected.

The Paris Convention defines the word “industrial property” in its broadest sense. Industrial property regulation is part of the larger body of law known as intellectual property (IP), which broadly refers to human mind inventions. IP rights defend innovators and creators’ interests by granting them ownership of their creations. Literary, artistic, and scientific works; performances of performing artists, phonograms, and broadcasts; inventions in all fields of human endeavour; scientific discoveries; industrial designs; trademarks, service marks, and commercial names and designations; protection against unfair competition

IP protection laws exist in most countries for two reasons:

  1. To give formal expression to creators’ and innovators’ rights in their creations and innovations, while also balancing the public interest in gaining access to those creations and innovations;
  2. To encourage creativity and innovation, thereby contributing to economic and social progress.

In the fast-paced world of real estate, industrial property is frequently disregarded. Under the commercial banner, however, it remains an important part. People are more inclined to think about where they work and shop, rather than where their items come from, when they list retail and office as the key sectors of business activity.

Simply put, when consumers need certain things, manufacturing and inventory storage must follow, which is a prerequisite for hiring additional employees and adding offices to expand the firm financially.

Industrial property is a segment with a lot of potential in many places of Asia. Where the country’s industrial sector has received a huge influx of foreign investment due to:

  1. Labor expenses are low (almost half of China)
  2. Low investment costs: land prices, maritime freight
  3. A business income tax that is favourable
  4. Involved in trade agreements: AEC, EU FTA, Korea

It’s critical to understand the variations between the many types of property in this industry, whether investing or trying to get involved in industrial real estate for other reasons.

FACILITIES FOR FABRICATION/MANUFACTURING PLANTS
When it comes to industrial property, the most popular image is of factories where items are assembled and produced. Some factories are large and used for heavy production, while others are modest and used only for assembly. Some rely heavily on manpower to produce items, while others rely on robotics and automation, while still others utilise a combination of the two. In general, less than 20% of office space is found in both large and small factories

Companies must still pick what style of operation they want to run when it comes to manufacturing plants. Consider the following scenario:
Ready-Built-Factories (RBFs) can give tenants more flexibility in terms of investment and financing, as well as access to ready-to-build land as their business grows. They also benefit businesses who wish to enter the market swiftly and begin operations right away.

Built-to-Suit Factories are often larger structures that are tailored to the needs of the tenants. The procedure takes longer, and both couples must make greater financial, time, and effort commitments. The tenant benefits from a more customised solution, but leases are often longer, ranging from 10 to 15 years, to allow the landlord to repay its investment during the lease term.

WAREHOUSES FOR DISTRIBUTION
These are storage facilities for commodities destined for distribution. It is used to store products while they travel from the manufacturer to the distributor before being delivered to their different retail locations. As a result, the facility’s location is critical — how accessible is it to nearby air and sea ports? Manufacturing businesses, third-party distributors, and retail establishments all profit from distribution warehouses because they save time, money, and provide piece of mind.

WAREHOUSES FOR PRIVATE USE
Private warehouses are more commonly utilised for storage than delivery, such as cold storage for perishable goods. Manufacturers own and operate them, and they’re built near their production facilities. They are often smaller than their counterparts in distribution. Users of these facilities benefit from a degree of control, but because to the fixed size and cost, it might be pricey in the short run.

FLEXIBLE SPACE (OFFICE/RESEARCH AND DEVELOPMENT/SHOWROOMS/WAREHOUSING)
Flex industrial buildings are built to meet the needs of the building tenant in a variety of ways. These structures, which are sometimes referred to as ‘hybrid’ space, can incorporate some or all of the following spaces: office space, retail showrooms, warehouse and distribution, and R&D. Because many R&D buildings are occupied by tenants in hi-tech, electronics, or biotechnology, ‘flex’ space appeals because it allows for a greater range of functions in one location. In comparison to pure manufacturing and warehouse buildings, flex spaces typically have lower ceiling heights and a higher amount of office space, ranging anywhere from 40% to 60%.

AREA OF DATA CENTERS
Electrical switching, uninterruptible power supply, backup generators, ventilation, and cooling systems are all required in these areas, which are used by enterprises in the hi-tech industry. They’re close to important power and communication cables, so they can host a lot of servers, and the buildings are well-secured to prevent unwanted access to data. In data centres, the higher the ceiling height, the better. The area above the cabinets collects rising heat and then dissipates it by mixing it with cold air. In Vietnam, data centres are increasingly finding homes in industrial spaces, such as FPT Data Center in Tan Thuan Industrial Parks’ ‘e-office’ portion of the industrial zone.

Aishwarya Says:

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