Corporate Appropriation of Traditional Trade Identities: Need to Protect under Ethos of Intellectual Property

India possesses cultural diversity such that both modern and traditional economies thrive simultaneously with their distinct identity and character developed over a period of time. This has a considerable impact on habits and preferences of consumers with respect to goods and that drive market economy. Traditional Eatries or Dhabas are extremely popular among various strata of society both village and city. Similarly, antiquated trades such as cobblers (mochi) or Tea vendors (Chaiwaala) are identities which are reminiscent of age-old trades which operate on the confidence of larger Indian society in every part of the country. In the modern economy, such age-old trade identities urgently require safeguards under the property regime. These identities are susceptible to misappropriation by corporate interests. The profit seeking nature of corporations drives them to eliminate competition from the market by appropriating trade identities of economy. While it may require deep market research to establish the economic value of traditional trade identities, nevertheless the appropriation of traditional trade identities give corporations to expand their market presence thereby enabling them to maximize revenue with incremental use of financial resources and latest technology. It is of prime importance that traditional businesses greatly rely on their antiquated identity to draw consumers while corporations have greater resources to fabricate and advertise new product and services without encroaching into the territory of traditional trade identities. Further, it adversely affects the reputation of traditional business built over generations and regrettably causes irreversible damage to the community. In the above context, this paper aims to evaluate the calculated attempts by corporate entities to misappropriate the traditional trade identities for maximisation of profits. Subsequently, this paper will evaluate the need to secure trade identities and to protect the connection of larger society with traditional businesses that are untouched by corporate designs. Furthermore, the absence of comprehensive legislation aimed at safeguarding the trade identities is a pressing need of the hour. It is essential in a globalised market place to contemplate and outline the safeguard needed for traditional businesses and commercial identities under intellectual property regime. Therefore, the paper looks at the issue and proposes the legislative safeguards for traditional trade identities which are a part of society since time immorial. Lastly, there is a long-standing requirement to formulate novel approach to put a stop to misappropriation of traditional trade identities.